Introduction:
The banking region is the maximum effective and main enterprise withinside the Indian economy. After numerous reforms and improvements in the course of the independence and post-independence phase, the banking region witnessed substantial prosperity. Now some of the TOP 10 largest public sectors bank in India are operating. India has one of the maximum sturdy banking, monetary, and marketplace capitalization with a number of banking companies, which include public region banks and personal region banks.
List Of Top 10 Public Sectors Banks in India:
Table of Contents
Punjab National Bank:
Punjab National Bank is one of the top 10 largest public sector banks in India. PNB is an Indian nationalized financial institution. Headquartered in New Delhi, India, it’s miles beneath the possession of the Ministry of Finance, authorities of India. The financial institution become based in May 1894 and is the second biggest and top government-owned bank in India, in phrases of its commercial enterprise volumes and its network.
The financial institution has over 180 million customers, 12,248 branches, and 13,000+ ATMs. Since the Bank came into operation, it has merged with seven banks. There are over 10,681 ATM facilities and 7000 branches of this Bank, which includes 62% of the branches set up in semi-city and rural areas. PNB has a banking subsidiary withinside the UK similar to branches in Hong Kong, Kowloon, Dubai, and Kabul. It has representative workplaces in Almaty, Dubai, Shanghai, Oslo, and Sydney.
Advantages and Benefits: PNB offers offerings like Credit cards, customer banking, company banking, finance and insurance, funding banking, loan loans, personal banking, personal equity, and wealth management. PNB has general internet sales of 94,990 crores. Over the years PNB has ended up as one of the top and best largest public sector banks in India.
- Company website: https://www.pnbindia.in/
- Address: Plot No 4, Sector -10 Dwarka New Delhi -110075
- Contact no: 1800 180 2222
Canara Bank:
Canara bank is likewise one of the few top 10 public sectors banks in India. Canara Bank is Government of India and indexed as one of the oldest public sector banks in India, in addition, to certainly consider one among the best public sector banks in India. It is beneath the possession of the Ministry of Finance, authorities of India. It is founded in Bangalore.
Established in 1906 at Mangalore via way of means of Ammembal Subba Rao Pai, the financial institution additionally has places of work in London, Hong Kong, Dubai and New York. Canara Bank has become the primary Indian Bank to get ISO certification for “Total Branch Banking” for its Seshadripuram department in Bangalore.
Advantages and Benefits: Canara Bank has now stopped choosing ISO certification for branches. Canara financial offers products like Asset management, Commercial banking, Credit cards, Investment banking, Mortgages, Pensions, and Private banking. It has an ever-growing consumer base of 8.27 crore. With complete net revenue of 84, 525 crores it’s far one of the top largest public sector banks in India.
- Company website: https://canarabank.com/
- Address: 112 J C ROAD, 3RD FLOOR. VIGILANCE WING BENGALURU.560002
- Contact no: 1800 425 0018
State Bank of India:
State bank of India is another one of the best top 10 public sector banks in India. State Bank of India is the most important and one of the oldest best banks running in India. It is a government-owned company set up in 1955 and has its headquarters in Mumbai. SBI financial institution of India is one of the largest employers within the country and maximum relied on the brand and financial institution in India. The bank offers products like Retail Banking, Corporate Banking, Investment banking, Mortgage loans, Private banking, Credit cards, Finance, and Insurance.
SBI has over 24000 branches in India. In the economic year 2012–13, its sales turned into Rs. 2.0.5 trillion (US$27 billion), out of which home operations contributed to 95.35% of sales. Forbes has ranked this Bank the 236th function in its “Fortune Global 500” listing which includes the names of the most important companies all around the globe in 2017.
Advantages and Benefits: After merging with its five partner banks and Bharatiya Mahila Bank on April 1, 2017, this Bank has completed serving extra than forty-three crore clients through more than 26,340 branches and over 60,000 ATM facilities. The Bank additionally enjoys a worldwide presence with 195 places of work installation in 36 counties. SBI has ended up as one of the top largest public sector banks in India.
- Company website: https://www.onlinesbi.com/
- Address: State Bank Bhavan, Madame Cama Road, Nariman Point, Mumbai, Maharashtra 400021.
- Contact no: +91-22-22029456
Bank of Baroda:
Bank of Baroda is 4th in listing of top 10 largest public sector banks in India. Established in 1908, the Bank of Baroda is the second largest public sector bank in India having its headquarters in Vadodara in Gujarat and company workplace in Mumbai. The Bank provides services with reference to banking and finance. Currently, its 9,500 branches function everywhere globally (Including 104 overseas branches) and over 13,400 ATM facility centres across India.
Advantages and Benefits: BOB caters to more than seventy-eight million customers in around twenty-five countries all over the world. Its services embrace debit and MasterCard facilities, loans, and wealth management. Vijaya and Dena Banks were amalgamated with the Bank of Baroda on April 1, 2019. Over the years Bank of Baroda has emerged as one of the best largest public sector banks in India.
- Company website: https://www.bankofbaroda.in/
- Address: PWXF+957, Baroda Complex, Plot no 12, R.C, 1st Floor, Scheme 134, Nipania, Scheme 134, Nipania, Indore, Madhya Pradesh 452010.
- Contact no: 0731 243 7001
Central Bank of India:
Central Bank of India is one of the few top 10 public sector banks in India. Central Bank of India (CBI) is an associate Indian nationalised bank. It beneath the possession of the Ministry of Finance, Government of India and is one of the oldest and top banks in India.
It’s based mostly in Mumbai, the monetary capital of India and the capital town of the state of Maharashtra. As of thirty March 2021, the bank contains a network of 4,608 branches, 3,644 ATMs, 10 satellite offices and one extension counter.
Advantages and Benefits: The Bank has its headquarters in Mumbai. The networks of this Bank have a presence in all of the 29 states and six of the 7 Union Territories of India. The Bank additionally enjoys global occupancy with its workplaces in Hong Kong and Nairobi. Over the years central bank of India has emerged as one of the best largest public sector banks in India.
- Company website: http://www.centralbankofindia.co.in/en
- Address: Central bank of India, operations department, central bank building , 2nd floor M.G road, hutatma Chowk, fort ,Mumbai 400 023.
Indian Bank:
Indian Bank is one among the few top 10 public sectors banks in India. Indian Bank is a prime nationalised bank. It is beneath the possession of the Ministry of Finance, Government of India. It become set up in 1907 and is based in Chennai, India. Indian Bank got here into existence as part of the Swadeshi movement on August 15 1907. The Bank has overseas branches in Colombo and Singapore. Indian Bank is a keeping enterprise to “IndBank Housing Ltd. and “Indbank Merchant Banking Services Ltd”.
Advantages and Benefits: It serves over a hundred million clients with 41,620 employees, 6,004 branches with 5,428 ATMs and Cash deposit machines and is one of the top-performing public sector banks in India. The general commercial enterprise of the financial institution has touched Rs. 930,000 crores ($120 billion) as of 31 March 2021.It has 227 Overseas Correspondent banks in seventy-five countries. Indian bank has become one of the best public sector banks in India.
- Company website: https://www.indianbank.net.in/jsp/startIBPreview.jsp
- Address: No. 62, Goudiya Mutt Road, Royapettah, Chennai, Tamil Nadu 600014.
- Contact no: 044 2835 3840
Union Bank of India:
Union bank of India is one among the top 10 public sector banks in India. Union Bank of India, normally known as Union Bank or UBI, is an Indian government-owned bank with 120+ million clients and a complete commercial enterprise of US$106 billion. Established on November 11, 1919, in Mumbai, the Union Bank of India became, to begin with commenced as a confined company.
After the amalgamation with Corporation Bank and Andhra Bank, which got here into impact on 1 April 2020, the amalgamated entity has become the 5th largest public sector bank in phrases of department community with round 9500 branches. Four of those are placed foreign places in Hong Kong, Dubai, Antwerp, and Sydney. UBI offers offerings like client banking, company banking, finance and insurance, funding banking, loan loans, personal banking, wealth management.
Advantages and Benefits: The financial institution has a community of 9300+ home branches, 11800+ ATMs, 8216+ Business Correspondent Points serving over 120 million clients with 77000+ employees. Over the years union bank have become as the best public sector banks in India.
- Company website: https://www.unionbankofindia.co.in/english/home.aspx
- Address: Ground Floor, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai, Maharashtra 400021
- Contact no: 02222892000
Syndicate Bank:
Syndicate Bank is one of the few top 10 public sector banks in India. The bank, in conjunction with thirteen major commercial banks of India, was nationalised on 19 July 1969, by the govt of India. It had been headquartered within the university city of Manipal, India.
Advantages and Benefits: On 1 Apr 2020, the bank was incorporated into Canara Bank. The bank offers merchandise like Finance and insurance client Banking company Banking Investment Management personal Equity Mortgages Credit Cards. Syndicate bank has net revenue of over 23,949.22 crores. Syndicate bank has become one of the top public sector banks in India.
- Company website: https://canarabank.com/
- Address: Door No. 16/355 & 16/365A, Manipal-576104, Udupi, Karnataka, India.
- Contact no: 1800 425 0018
Indian Overseas Bank:
Indian overseas bank is one of the few top10 public sector banks in India. Indian Overseas Bank (IOB) may be a major Indian top nationalised bank. It’s below the possession of the Ministry of Finance, Government of India primarily based in Tamilnadu, India, with concerning 3,400 domestic branches, about half dozen foreign branches and representative office.
Advantages and Benefits: Throughout the nationalization, IOB was one amongst the fourteen major banks condemned by the govt. of India. On five Dec 2021, IOB got Degidhan Award 2020-21 by Ministry of physical science & info Technology for achieving second highest proportion of digital payment group action among public sector banks. As of thirty one March 2021, IOB’ total business stands at Rs.379,885 crore. Over the years IOB has become one of the best public sector banks in India.
- Company website: https://www.iobnet.co.in/ibanking/html/index.html
- Address: 6 th Floor, Annex Building, 763, Anna Salai, Chennai – 600 002, Tamil Nadu, India.
- Contact no: 1800 425 4445
UCO Bank:
UCO bank is one of the few top 10 public sector banks in India. UCO Bank, previously United Commercial Bank, set up in 1943 in Kolkata, is one of the best nationalized banks in India. During FY 2020–21, its general commercial enterprise changed into Rs. 3.24 lakh crore.
Advantages and Benefits: Based on 2020 data, it’s far ranked eighty at the Fortune India 500 listing. UCO Bank changed into ranked 1948 in Forbes Global 2000 listing of year 2018. As of 30 March 2017 the financial institution had 4,000 plus provider devices forty nine zonal workplaces unfold throughout India. It additionally has foreign places branches in Singapore and Hong Kong. UCO Bank’s headquarters is on BTM Sarani, Kolkata. UCO bank has emerged to be one of the top public sector banks in India.
- Company website: https://www.ucobank.com/Hindi/homehindi.aspx
- Address: 8th Floor 10, B.T.M. Sarani Kolkata-700 001
- Contact no:1800 103 0123
Top 10 public sectors banks in India along with their websites:
| SNO. | Bank Name | Website |
| 1 | Punjab National Bank | https://www.pnbindia.in/ |
| 2 | Canara Bank | https://canarabank.com/ |
| 3 | State Bank of India | https://www.onlinesbi.com/ |
| 4 | Bank of Baroda | https://www.bankofbaroda.in/ |
| 5 | Central Bank of India | http://www.centralbankofindia.co.in/en |
| 6 | Indian Bank | https://www.indianbank.net.in/jsp/startIBPreview.jsp |
| 7 | Union Bank of India | https://www.unionbankofindia.co.in/english/home.aspx |
| 8 | Syndicate Bank | https://canarabank.com/ |
| 9 | Indian Overseas Bank | https://www.iobnet.co.in/ibanking/html/index.html |
| 10 | UCO Bank | https://www.ucobank.com/Hindi/homehindi.aspx |
FAQs about top 10 public sectors banks in India:
Which is the No 1 public sector bank in India?
State bank of India is No 1 public sector bank in India. Having 23% of shares of the total market assets in India, this bank is the largest public sector bank of India and tops the list of best banks in India.
Which is the largest bank in India ?
HDFC Bank is India’s largest private sector lender by assets. It is the largest bank in India by market capitalization.
Which is the No 3 government bank in India?
- PUNJAB NATIONAL BANK
- CANARA BANK
- STATE BANK O F INDIA
Which is the second largest bank in India?
State Bank of India (SBI).
Which is safest bank in India?
SBI, HDFC and ICICI are the safest banks by virtue of being declared too big to fail by RBI. It doesn’t hurt that they are also financially healthy as well.
Which is the largest public bank in India?
Central Bank of India is the largest and the oldest commercial bank in India. It was established in 1911. Canara Bank is one of the largest nationalized public sector banks established in 1906.
Which is largest public sector bank in India?
SBI is India’s largest public sector bank and is ranked 232nd on the Fortune Global 500 list of the world’s biggest corporations. The bank is also the country’s biggest lender.
Which private bank is best?
HDFC Bank was named as the ‘Best Private Bank’ in India at the ‘Global Private Banking Awards 2021’ which was organised by Professional Wealth Management (PWM) in a virtual ceremony.
How many public banks are there in India?
The merger of Public Sector Banks (PSBs) is where the PSBs are merged with ‘anchor’ banks. As of today, India has 12 Public Sector Banks, including Bank of Baroda and State Bank of India.
Conclusion:
As for the conclusion these are some of the top 10 largest public sectors banks in India. These banks are highly well maintained. They have several branches globally and millions of customers.
