In this article, we have published the list of Public Sector Banks and Private Sector Banks in 2020.
The Reserve Bank of India (RBI) is the highest banking regulatory authority in India. It was established by the RBI Act, 1934. Indian banks are basically divided into two groups; schedule banks and non-Schedule banks.
Scheduled banks are those banks that are included in the second schedule of the RBI Act, 1934. On the basis of ownership; commercial banks are further divided into two groups i.e. Private Sector Banks and Public Sector Banks.
Types of commercial banks in India
Scheduled Banks:- Banks that have been included in the Second Schedule of RBI Act,1934; categorized as follows:-
1. Private Sector Banks:- Majority of stake is held by private individuals. Examples of Private banks are; HDFC Bank, ICICI Bank, and AXIS Bank, etc.
2. Public Sector Banks:– Majority of stake is held by the government. Examples of Public Sector Banks are; Punjab National Bank, state bank of India and Central Bank of India, etc.
3. Foreign Banks:- These are the banks with Head office outside the country in which they are located. Examples of Foreign Sector Banks are; Standard Chartered Bank, American Express, and Citi Bank etc.
List of Public Sector Banks in India 2020
|1. Bank of Baroda||1908||Vadodara, Gujarat|
|2. Bank of India||1906||Mumbai, Maharashtra|
|3. Bank of Maharashtra||1935||Pune, Maharashtra|
|4. Canara Bank||1906||Bengaluru, Karnataka|
|5. Central Bank of India||1911||Mumbai, Maharashtra|
|6.Indian Bank||1907||Chennai, Tamil Nadu|
|7.Indian Overseas Bank||1937||Chennai, Tamil Nadu|
|8. Punjab and Sind Bank||1908||New Delhi, Delhi|
|9.Punjab National Bank||1894||New Delhi, Delhi|
|10.State Bank of India||1955||Mumbai, Maharashtra|
|11.UCO Bank||1943||Kolkata, West Bengal|
|12.Union Bank of India||1919||Mumbai, Maharashtra|
|Private Sector Banks 2020|
|1. Axis Bank||1993||Mumbai, Maharashtra|
|2. Bandhan Bank||2015||Kolkata, West Bengal|
|3.CSB Bank||1920||Thrissur, Kerala|
|4. City Union Bank||1904||Thanjavur, Tamil Nadu|
|5.DCB Bank||1930||Mumbai, Maharashtra|
|6. Dhanlaxmi Bank||1927||Thrissur, Kerala|
|7. Federal Bank||1931||Aluva, Kerala|
|8. HDFC Bank||1994||Mumbai, Maharashtra|
|9. ICICI Bank||1994||Mumbai, Maharashtra|
|10. IndusInd Bank||1964||Mumbai, Maharashtra|
|11. IDFC FIRST Bank||2015||Mumbai, Maharashtra|
|12. Jammu & Kashmir Bank||1938||Srinagar, Jammu and Kashmir|
|13. Karnataka Bank||1924||Mangaluru, Karnataka|
|14. Karur Vysya Bank||1916||Karur, Tamil Nadu|
|15. Kotak Mahindra Bank||2003||Mumbai, Maharashtra|
|16. Lakshmi Vilas Bank||1926||Chennai, Tamil Nadu|
|17. Nainital bank||1922||Nainital, Uttarakhand|
|18. RBL Bank||1943||Mumbai, Maharashtra|
|19. South Indian Bank||1929||Thrissur, Kerala|
|20. Tamilnad Mercantile Bank||1921||Thoothukudi, Tamil Nadu|
|21. YES Bank||2004||Mumbai, Maharashtra|
|22. IDBI Bank||1964||Mumbai, Maharashtra|
In terms of revenue, HDFC Bank is the largest bank of the private sector in India. It has a total revenue of Rs. 816.02 billion (US$11 billion). ICICI Bank is in second place in terms of revenue. It has a revenue of Rs. 736.60 billion (US$10 billion).
The above-mentioned list of private sector banks and Public sector banks changes from time to time. So students need to get updated information through newspapers and other sources.