Top Government Banks In India | This article is about the top public sector banks in India. Government banks in India. There is State Bank of India, Punjab National Bank, Bank of Baroda, Canara Bank, Bank of India, and Union Bank of India. The list is here.
Top Government Banks In India List
1) State Bank of India
2) Punjab National Bank
3) Bank of Baroda
4) Canara Bank
5) Bank of India
6) Union Bank of India
1) State Bank of India
SBI stands for State Bank of India. India’s largest commercial bank is State Bank of India. SBI is ranked 236th among Fortune Global 500 companies. In 1955, it was founded.
SBI now has the largest branch network in India after merging with five associate banks. State Bank of India is one of the world’s largest government-owned banks.
In the country, SBI is the largest commercial bank with a 200-year history. Regarding assets, deposits, profits, branches, customers, and employees, SBI is the largest bank in the world. The Government of India owns over 50% of SBI.
Headquarters: Mumbai, India
ATMs: 50,000+
Branches: 22,000
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2) Punjab National Bank
The Punjab National Bank is also known as PNB. As of April 12, 1895, the Punjab National Bank began operating from Lahore. Seven banks have merged with PNB over the bank’s long history.
We have two overseas branches – Hong Kong and Dubai – an Offshore Banking Unit in Mumbai and a Representative Office in Dubai.
United Bank and OBC Bank are merging with PNB Bank. As a result, the combined bank will become India’s second-largest public sector bank.
Headquarters: New Delhi, India
ATMs: 13,000+
Branches: 12,200
3) Bank of Baroda
Bank of Baroda is India’s third largest multinational public sector bank. Bank of Baroda has become India’s third largest public sector bank after merging with Vijaya Bank and Dena Bank. It was founded in 1908 by Maharaja Sayajirao Gaekwad III.
Bank of Baroda is an Indian state-owned multinational banking and financial services company. On July 19, 1969, the Government of India nationalized the bank along with 13 other central commercial banks in India, and it has been designated as a profit-making public sector enterprise.
Headquarters: Gujarat, India
ATMs: 10,000+
Branches: 8,200
4) Canara Bank
A philanthropist, Shri Ammembal Subba Rao Pai, established Canara Bank in 1906 as the Hindu Permanent Fund. After nationalization in 1969, Canara Bank became a limited company as Canara Bank Ltd.
The Canara Hindu Permanent Fund was established in 1906 but changed its name to Canara Bank Limited in 1910. One of the oldest public sector banks in India is Canara Bank.
India’s fourth largest public sector bank is Canara Bank. A merger has taken place between Canara Bank and Syndicate Bank.
Headquarters: Bangalore, India
ATMs: 10,700+
Branches: 9700+
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5) Bank of India
Bank of India, a founding member of SWIFT (Society for Worldwide Interbank Financial Telecommunications), is one of India’s top five banks. Since 1969, when the bank became a national institution, it has expanded worldwide.
With 24 overseas branches, the Bank of India is a multinational bank. A group of eminent Mumbai businessmen founded it on September 7, 1906. Before July 1969, the bank was privately owned and controlled.
Headquarters: Mumbai, India
ATMs: 16,000+
Branches: 5000+
6) Union Bank of India
In November 1919, the Union Bank of India was founded in Mumbai. As of April 2020, Andhra Bank and Corporation Bank will merge into Union Bank of India. India’s sixth-largest public sector bank is Union Bank of India.
Headquarters: Bangalore, India
ATMs: 11,000+
Branches: 8700+