In India, the Reserve Bank of India(RBI) is having the highest baking regulator authority and it was formed under the act of RBI Act, 1934. Banks in India are mostly divided into two groups, ie., Scheduled Banks and Non-Scheduled Banks. Based on the ownership, commercial banks are classified into two groups i.e. Private Sector Banks and Public Sector Banks, also it has classified into two other groups ie., Regional Rural Bank and Foreign Bank. However, you will get to see the list of PSU and Private Banks in India 2020 from the further sections.This will be helpful for the IAS Aspirant in UPSC prelims exam.

TOPICS

  • List of Public Sector banks
  • List of Private Sector banks

Banks in India are divided into four categories. They are as under

  • Commercial Banks
  • Small Finance Banks
  • Payments Banks
  • Co-operative Banks

Commercial banks are further divided into two groups i.e. Private Sector Banks and Public Sector Banks. Under scheduled banks the following are the categories

  • Private Sector Banks:- Majority of stake is held by private individuals. Examples of Private banks are; HDFC Bank, ICICI Bank, and AXIS Bank, etc.

  • 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.

  • 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

Name of Bank

Headquaters

Establishment year
Punjab National Bank Delhi 1894
Bank Of India Mumbai 1906
Canara Bank Bengaluru 1906
Indian bank Chennai  1907
Bank of Baroda Vadodara  1908
Punjab and Sind Bank Delhi 1908
Central Bank of India Mumbai 1911
Union Bank of India Mumbai 1919
Bank of Maharashtra Pune 1935
Indian Overseas Bank Chennai 1937
UCO Bank Kolkata 1943
State Bank of India Mumbai 1955

 

List of Private Sector Banks in India 2020

Name of Bank

Headquaters

Establishment year
City Union Bank Tanjavur 1904
Karur Vysya Bank Karur 1916
CSB Bank Trissur 1920
Tamilnad Mercantile Bank Thoothukudi 1921
Nainital bank Nainital 1922
Karnataka Bank Manguluru 1924
Lakshmi Vilas Bank Chennai 1926
Dhanalaxmi Bank Trissur 1927
South Indian Bank Trissur 1929
DCB Bank Mumbai 1930
Fedral Bank Aluva 1931
Jammu And Kashmir Bank Srinagar 1938
RBL Bank Mumbai 1943
 IDBI Bank Mumbai 1964
Indusind Bank Mumbai 1964
Axis Bank Mumbai 1993
ICICI Mumbai 1994
HDFC Mumbai 1994
 Kotak Mahindra Bank Mumbai 2003
YES Bank Mumbai 2004
Bandhan Bank Kolkata 2015
IDFC First Bank Mumbai 2015

 

 

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.To read more articles on economics click here