Categories: GK

Banks in India 2020 | List of all Public and Private Sector Banks in India

Nowadays, having a bank account from a young body to the old body becomes necessary to save money and also to receive money from the government under many student schemes like scholarships, etc. Also, knowing more about Banking products helps students to score more marks in the General Knowledge test & quizzes. So to increase your GK skills in banking, we have published the list of all public and private sector Banks in India 2020. 

On 30th August 2019, 10 PSB were joined with four huge PSB. Thus, the count of Public sector Banks in India is diminished to 12. Besides, the number of Private sector banks is diminished to 22. Go ahead and check the list of all Indian PSB and Private sector banks 2020 and know the baking products in a detailed way.

Basic Details About Banking in India: List of all Public and Private Sector Banks in India

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.

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

  1. Commercial Banks
  2. Small Finance Banks
  3. Payments Banks
  4. Co-operative Banks

Types of Commercial Banks in India

Scheduled Banks that have been involved in the Second Schedule of RBI Act,1934 are categorized into four types of banks. They are as follows;

1. Private Sector Banks: The majority of the stake is maintained by private individuals. Examples of Private banks are HDFC Bank, ICICI Bank, and AXIS Bank, etc.

2. Public Sector Banks: The bulk of the stake is maintained by the government. Examples of Public Sector Banks are Punjab National Bank, state bank of India and Central Bank of India, etc.

3. Regional Rural Banks (RRB): The Regional Rural Banks were owned by the Central Government, the State Government, and the Sponsor Bank. Examples of RRBs are Andhra Pradesh Grameena Vikas Bank, Mizoram Rural Bank, etc.

4. Foreign Banks: The list of foreign banks head offices are located outside the country. Examples of Foreign Sector Banks are Standard Chartered Bank, American Express, and Citi Bank, etc.

Here is the list of all private sector banks and public sector banks (PSU) in India in 2020, we have collected from various sources. Check them out before you apply for any bank accounts in the nearest banks India.

Check the List of Public Sector Banks (PSU) in India 2020

Bank Name Establishment Headquarter
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

Check the List of Private Sector Banks in India 2020

Bank name Establishment Headquarter
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

The above tables help students to know the details about the private sector banks and Public sector banks in India and also these may vary from time to time. So, candidates are advised to get updated information about the PSB and Private banks from the news or other online portals like Ncertbooks.guru 

FAQs on Indian Private Sector and Public Sector Banks 2020

1. How many Old and New private sector banks are there in India?

At present, there are 12 old and 9 new private sector banks in India in 2020. Check the above table and get the names of all Indian private banks.

2. How many public sector banks are there in India?

Public Sector Banks (PSBs) is a major type of bank in India, where a majority stake (i.e. more than 50%) is held by the government. There are a total of 12 Public Sector Banks beside 1 state-owned Payments Bank in India.

3. Who is the No 1 bank in India?

HDFC Bank developed as India’s No. 1 bank.

4. Which is the 2nd largest bank in India?

ICICI Bank is India’s second-largest bank with a great network of about 450 branches and offices and nearly 1,750 ATMs.

Ram

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