A list of banks in India including all commercial banks, government banks, private banks, local banks, domestic banks, foreign banks, and financial institutions.
India is the largest democratic and has huge manpower in the world. The Asian country is considered one of the fastest-growing economic countries in the world.
At present, we will give you a brief description of the whole list of Indian banks.
About Banks in India
Banks are an essential part of the financial landscape in India. They provide a range of financial services to individuals, businesses, and government organizations, including loans, deposits, savings accounts, credit cards, and investment products. There are different types of banks in India, including public sector banks, private sector banks, foreign banks, cooperative banks, and regional rural banks.
Public sector banks are the largest type of banks in India and are owned and operated by the government. Some of the leading public sector banks in India include State Bank of India, Bank of Baroda, Punjab National Bank, Canara Bank, and Union Bank of India. These banks play a crucial role in providing affordable financial services to people across the country, particularly in rural areas.
Private sector banks, on the other hand, are owned and operated by private companies. Some of the top private sector banks in India include ICICI Bank, HDFC Bank, Axis Bank, and Kotak Mahindra Bank. These banks are known for their innovative products and services and for leveraging technology to improve customer experience.
Foreign banks are banks that are headquartered outside India but operate in the country. Some of the leading foreign banks in India include Citibank, Standard Chartered Bank, and HSBC. These banks cater primarily to high-net-worth individuals and multinational corporations.
Cooperative banks are banks that are owned and operated by their members. They are usually found in rural areas and cater to the needs of small farmers, traders, and artisans. Some of the well-known cooperative banks in India include Saraswat Bank, Janata Sahakari Bank, and Abhyudaya Cooperative Bank.
Regional rural banks are banks that were established to provide financial services to rural areas. These banks are jointly owned by the central government, state governments, and public sector banks. Some of the leading regional rural banks in India include Prathama Bank, Allahabad UP Gramin Bank, and Gramin Bank of Aryavart.
In recent years, banks in India have faced numerous challenges, including rising bad loans, increased competition, and the impact of technology on traditional banking practices. However, despite these challenges, the banking sector in India has remained robust and has played a critical role in driving the country’s economic growth.
Reserve Bank of India
Reserve Bank Of India: Reserve Bank of India which is known as RBI, is the chief bank of India that controls the Indian banking system. Ministry of Finance, Government of India is the owner of the reserve bank & the currency is the Indian rupee. The bank provides services such as:
- issuing & supplying rupee
- managing payment system
- promoting economic development
- maintaining all Indian banks
Nationalized Banks In India
As India is a big country so there are many banks under the control of the Government of India.
- Central Bank Of India – Central Bank of India is one of the oldest and largest nationalized commercial banks in India. The bank is under the control of the Ministry of Finance, the Indian Government. Although its name is the central bank it is not the central bank of India.
- Bank of Baroda – Bank of Baroda is one of the largest national banks in Indian founded in 1908. The major national bank has a great influence in many other countries throughout the world.
- Bank of India – Bank of India is one of the most influential national banks in India founded in 1906. The bank is under the control of the Ministry of Finance based in Mumbai, India.
- Bank of Maharashtra – Bank of Maharashtra is a leading public nationalized bank in India founded in 1935. It has huge numbers of customers and numerous network branches in the country.
- Canara Bank – Canara Bank is one of the biggest national Indian banks founded in 1906. The bank owns several regional banks such as Andhra Pragathi Grameen Bank, Kerala Gramin Bank, and more.
- Indian Bank – Another largest national bank in India is Indian Bank which is owned by the Government of India. The bank is founded in 1907 based in Chennai, India.
- Indian Overseas Bank – India Overseas Bank is a recognized Indian national bank operated by the Ministry of Finance. It has been awarded nationally for its significant role in digital banking in the country.
- Punjab and Sind Bank – With the tag, Where service is a way of life, Punjab and Sind Bank is a popular national bank in India. The bank was established in 1908 based in New Delhi, India.
- Punjab National Bank – Punjab National Bank is the second largest national bank in India. The bank is very influential around the world as having many international branches.
- State Bank of India – State Bank of India is a multinational bank in India founded in 1955. The bank is also listed as one of the largest Indian banks in the world.
- UCO Bank – UCO Bank is one of the main nationalized banks in India based in Calcutta. The bank has achieved places in Fortune India 500 and Forbes Global 2000.
- Union Bank of India – Union Bank of India is a public national bank in India that is controlled by the Government of India. It has branches of more than 9300 in India and was founded in 1919 based in Mumbai, Maharashtra.
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Private Banks In India
Private banks or retail banks are getting as popular as other national banks since they are most successful in the sectors.
- Axis Bank – Axis Bank is a private commercial bank in India that is founded in 1993 and based in Mumbai. The bank has achieved numerous prestigious awards in many categories.
- Bandhan Bank – Bandhan Bank is another leading commercial and younger universal bank in India. The bank started its journey as a nonprofit organization and the objective of women’s empowerment.
- City Union Bank – City Union Bank is a public commercial Indian bank that is founded in 1904. The bank was initially played an important regional figure based in Tamilnadu.
- DCB Bank – DCB Bank is a popular commercial bank that offers banking and financial services in India. The bank is a new generation licensed by the Reserve bank of India in 1995.
- Federal Bank – Federal Bank is a private bank among commercial banks in India founded in 1931. It has nearly 1272 branches throughout the country.
- HDFC Bank – HDFC Bank is a private Indian bank that is also the largest bank in the country and the world founded in 1994.
- ICICI Bank – ICICI Bank is a leading private bank and a multinational financing service that is also available in 17 countries.
- IDBI Bank – IDBI Bank is a commercial private bank in India that is 45% owned by the Government of India started its journey in 1964.
- IDFC First Bank – Another wide known private bank in India is IDFC First Bank, which has a huge service including business loans, vehicle loans, personal loans, and more.
- IndusInd Bank – IndusInd Bank is an Indian bank that is also a commercial bank that received a new generation license.
- Karnataka Bank – Karnataka Bank is one of the oldest generations of commercial Indian banks that is founded in 1924.
- Karur Vysya Bank – Karur Vysya Bank is one the oldest continuous commercial Indian bank that is initially focused on retail and wholesale banking.
- Kotak Mahindra Bank – One of the largest assets and capitalization is a private commercial Indian bank is Kotak Mahindra Bank.
- RBL Bank – RBL Bank which is previously known as Ratnakar Bank, is a major private bank that offers consumer banking, business banking, development bank, and more.
- South Indian Bank – South Indian Bank is an Indian commercial private bank based in Kerala and has nearly 924 branches.
- Tamilnad Mercantile Bank – Tamilnad Mercantile Bank is one of the fastest-growing & prestigious commercial Indian banks.
- Yes Bank – Yes Bank is an Indian commercial private bank based in Mumbai, the bank has shown a significant rise from a near collapse with the support of other commercial banks.
Regional Banks In India
India has many regional banks for development in rural and urban areas and economical situations.
- Andhra Pradesh Grameena Vikas Bank – Andhra Pradesh Grameena Vikas Bank is a regional bank among the best banks in India based in Warangal.
- Andhra Pragathi Grameena Bank – Another important rural bank in India in Andhra Pradesh Grameena Bank is based in Kadapa.
- Assam Gramin Vikas Bank – The only regional leading bank in Assam is Assam Gramin Vikas Bank founded in 1976.
- Dakshin Bihar Gramin Bank – One of the prime regional banks in India is Dakshin Bihar Gramin Bank based in Patna.
- Uttar Bihar Gramin Bank – Uttar Bihar Gramin Bank is one of the largest regional rural banks in India based in Muzaffarpur.
- Karnataka Vikas Grameena Bank – Karnataka Vikas Grameena Bank is a national regional rural bank in India that is under the control of the Minister of finance.
- Kerala Gramin Bank – Kerala Gramin Bank is a national regional bank that is sponsored by Canara Bank and has 634 branches in Kerala.
- Madhyanchal Gramin Bank – Madhyanchal Gramin Bank is a regional bank that has services in Madhya Pradesh.
- Maharashtra Gramin Bank – Another significant national regional bank in Maharashtra Gramin Bank offers retail banking services.
- Mizoram Rural Bank – Mizoram Rural Bank is a popular regional rural Indian bank that is sponsored by the State bank of India.
- Odisha Gramyo Bank – Odisha Gramyo Bank is a major national Indian bank that is sponsored by Indian Overseas Bank.
- Utkal Grameen Bank – Utkal Grameen Bank is a vital regional rural bank that is owned by the Minister of Finance, India.
- Puduvai Bharathiar Grama Bank – Puduvai Bharathiar Grama Bank is a rural Indian bank that is named after an Indian poet.
- Tamil Nadu Grama Bank – Tamil Nadu Grama Bank is a great bank that serves the whole of Tamilnadu, India since 2019.
- Uttarakhand Gramin Bank – Uttarakhand Gramin Bank is a Government-owned regional bank in India serving the whole of Uttarakhand.
- Bangiya Gramin Vikash Bank – Bangiya Gramin Vikash Bank is a Gramin bank in India that serves West Bengal’s 12 districts.
- Paschim Banga Gramin Bank – Paschim Banga Gramin Bank is one of the successful regional rural banks in India.
Foreign Banks In India
Foreign banks have several branches all over India as people are interested highly in them.
- AB Bank – AB Bank is a private sector bank in Bangladesh, that has several branches in other countries founded in 1982.
- American Express – American Express is an American multinational company and financial service, also an internationally valuable brand.
- Australian & New Zealand Banking Group – Australian & New Zealand Banking Group is an Australian second-largest multinational bank.
- Barclays – Barclays is a British multinational bank based in London founded in 1690 that also serves globally.
- Bank of America – Bank of America is a multinational bank based in America that has different categories of financial services.
- Bank of Bahrain & Kuwait – Bank of Bahrain & Kuwait is the joint bank of the kingdom of Bahrain & Kuwait founded in 1971.
- Bank of Ceylon – Bank of Ceylon is the major & state-owned bank of Sri Lanka founded in 1938 based in Colombo.
- Bank of China – Bank of China is one of the oldest continuous banks in China, and also one of the largest banks in the world.
- Bank of Nova Scotia – Bank of Nova Scotia is one of the biggest multinational banks based in Ontario, Canada.
- BNP Paribas – BNP Paribas is an international bank and financial service that is founded in 1848 in Paris, France.
- Citibank India – Citibank is an international commercial bank that has many branches around the world including India also.
- Credit Agricole Corporate and Investment Bank – Credit Agricole Corporate and Investment Bank is an international bank that is established in Paris, France in 2004.
- Credit Suisse – Credit Suisse is a global multinational & investment bank that is established in Switzerland in 1856.
- CTBC Bank – CTBC Bank is one of the largest private banks that started its journey in 1966 based in Taipei, Taiwan.
- Deutsche Bank – Deutsche Bank is one of the largest commercial banks and a German International bank founded in 1869.
- First Abu Dhabi Bank – First Abu Dhabi Bank is one of the most important banks in the world based in Abu Dhabi.
- FirstRand Bank – FirstRand Bank is a leading South African commercial public bank licensed by the Reserve Bank of South Africa.
- HSBC Bank India – HSBC Bank India is a foreign bank serving in India that is maintained by the Reserve Bank of India.
- Industrial & Commercial Bank of China – Industrial & Commercial Bank of China is a Chinese state-owned multinational bank, also one of the largest banks in the world.
- Industrial Bank of Korea – Industrial Bank of Korea is a South Korean state-owned bank that is mainly focused on the development of small and medium enterprises.
- JPMorgan Chase – JPMorgan Chase is a multinational investment bank and financial company based in America.
- KEB Hana Bank – KEB Hana Bank is a commercial bank based in South Korea that provides foreign exchanging products.
- Kookmin Bank – Kookmin Bank is one of the largest banks in South Korea and also one of the largest multinational banks in the world.
- Krung Thai Bank – Krung Thai Bank is a state-owned & major bank that is founded in 1966 in Bangkok, Thailand.
- Mizuho Corporate Bank – Mizuho Corporate Bank is a commercial bank based in Japan and also has branches in India.
- Qatar National Bank – Qatar National Bank is a Qatar-based multinational bank founded in 1964 in Doha, Qatar.
- Rabobank – Rabobank is a multinational bank & financial services based in the Netherlands focused on food and agriculture.
- Shinhan Bank – Shinhan Bank is the first commercial bank in South Korea established as a small enterprise.
- Societe Generale – Societe Generale is a French commercial and multinational bank founded in 1864 in Paris.
- Sonali Bank – Sonali Bank is a Bangladeshi largest public bank that has several branches in different countries.
- Standard Chartered Bank – Standard Chartered Bank is one of the most renowned multinational British banks.
- Sumitomo Mitsui Banking Corporation – Another wide known Japanese multinational bank is Sumitomo Mitsui Banking Corporation.
- United Overseas Bank – United Overseas Bank is a multinational bank based in Singapore that has several branches in South East Asia.
- Westpac – Westpac is an Australian mega multinational and the oldest financial company that has branches in India also.
- Woori Bank – Another Korean multinational bank & one of the largest domestic banks is Woori Bank founded in 1899.
International Banks In India
International banks are very popular among all Indian banks as they are recognized worldwide.
- Access Bank – Access Bank is the largest bank in Africa founded in 1989 and based in Lagos State, Nigeria.
- Banco Bilbao Vizcaya Argentaria – Banco Bilbao Vizcaya Argentaria is a multinational Spanish bank which is counted as one of the largest banks in the world.
- Banco de Sabadell – Banco de Sabadell is a leading corporate Spanish bank & one of the largest retail banks.
- Bank of Montreal – Bank of Montreal is one of the biggest multinational banks in Canada founded in 1817.
- Bank of Taiwan – Bank of Taiwan is a government-owned commercial bank in Taiwan founded in 1897.
- Busan Bank – Busan Bank is a regional bank in South Korea that focuses on providing regional economical facilities.
- Caixa Geral de Depositos – Caixa Geral de Depositos is the second largest bank state owned bank in Portugal.
- Credit Industriel et Commercial – Credit Industriel et Commercial is the fourth-largest commercial bank in France.
- DNB Bank – DNB Bank is the largest bank in Norway, and also a giant financial service company that offers different services.
- DZ Bank – DZ Bank is the second-largest private bank based in Germany also considered a central corporate institution.
- Intesa Sanpaolo – Intesa Sanpaolo is the largest bank international bank in the world and also in Italy founded in 2007.
- National Australia Bank – National Australia Bank is one of the largest banks of the Big Four financial institutions in Australia.
- Natixis – Natixis is a corporate, investment bank & a large financial management firm based in France founded in 2006.
- Raiffeisen Bank International – Raiffeisen Bank International is an Austrian private regional bank also considered a renowned banking group.
- Skandinaviska Enskilda Banken – Skandinaviska Enskilda Banken is an international commercial group established in Sweden.
- The Bank of New York Mellon – The Bank of New York Mellon is the largest & one of the oldest banks in America.
- Toronto Dominion Bank – Toronto Dominion Bank is a top multinational bank in North America established in Canada.
- UBS AG – UBS AG is the largest private & multinational bank in the world based in Switzerland started in 1862.
- Wells Fargo Bank – Wells Fargo Bank is an important multinational bank established in California in 1929.
- Zurcher Kantonalbank – Zurcher Kantonalbank is the largest state-owned commercial bank based in Switzerland.
Small Finance Banks In India
Small Finance banks are aimed to develop the condition of small and medium businesses.
- Jana Small Finance Bank – Jana Small Finance Bank is a private bank that operates a small finance service in India.
- AU Small Finance Bank – AU Small Finance Bank is an Indian financial institution that provides many services including small & medium businesses.
- Capital Small Finance Bank – Capital Small Finance Bank is the first small finance bank in India started in 2000.
- ESAF Small Finance Bank – ESAF Small Finance Bank provides loans and banking services in India since 2017.
Payments Banks In India
Payments banks are newly systemic banks that work on digital payments in India.
- Airtel Payments Bank – Airtel Payments Bank is a digital payment award winner bank in India majorly owned by Bharti Airtel.
- Paytm Payments Bank – Paytm Payments Bank is a leading known payment bank in India among all banks in India.
- Jio Payments Bank – Jio Payments Bank is a rising payment Indian bank that is founded by the business tycoon Mukesh Ambani.
- NSDL Payments Bank – NSDL Payments Bank is one of the largest Indian payment banks started in 1996.
Co-Operative Banks In India
Cooperative banks are multistate rural banks that provide mainly retail services.
- Abhyudaya Co-Operative Bank Ltd. – Abhyudaya Co-Operative Bank Ltd. is a financial institution that provides retail services in India.
- Cosmos Co-operative Bank Ltd. – Cosmos Co-Operative Bank Ltd. is one of the oldest cooperative banks in India.
- Dombivli Nagari Sahakari Bank Ltd. – Dombivli Nagari Sahakari Bank Ltd. is an Indian multi state financial bank.
- Punjab and Maharashtra Cooperative Bank Ltd – Punjab and Maharashtra Cooperative Bank Ltd. is a leading private bank that has many branches all over India.
- Shamrao Vithal Cooperative Bank Ltd – Another major urban cooperative bank in India is Shamrao Vithal Cooperative Bank Ltd.
Hence, all the banks in India play a great role to progress the economic growth of the country.
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Q: What are the different types of banks in India?
In India, there are four main types of banks: Public Sector Banks (PSBs), Private Sector Banks (PVBs), Cooperative Banks (CBs), and Regional Rural Banks (RRBs).
Q: What is the Reserve Bank of India (RBI)?
The Reserve Bank of India (RBI) is India’s central bank, which regulates the monetary policy and currency circulation in the country. It also supervises the functioning of all banks in India.
Q: What is the role of the Indian Banks’ Association (IBA)?
The Indian Banks’ Association (IBA) is an association of banks in India that represents their interests to the government, the RBI, and other regulatory bodies. It negotiates with employee unions and handles various industry-level issues.
Q: What is the difference between a savings account and a current account?
A savings account is designed to encourage individuals to save their money and earn interest on it, while a current account is meant for business transactions and does not earn any interest. Current accounts usually have higher transaction limits and charges.
Q: What is a Fixed Deposit (FD)?
A Fixed Deposit (FD) is a type of savings account where the customer deposits a lump sum amount for a fixed period, usually ranging from 7 days to 10 years. The interest rate on FDs is higher than that of savings accounts.
Q: What is a loan?
A loan is an amount of money borrowed from a bank or financial institution that must be repaid with interest within a specified time period. Banks in India offer various types of loans, including personal loans, home loans, car loans, and education loans.
Q: What is a Credit Card?
A credit card is a payment card that allows customers to borrow money from the bank up to a pre-set credit limit, which they can use to make purchases or withdraw cash. Customers must repay the borrowed amount along with interest within a specified time period.
Q: What is a Debit Card?
A debit card is a payment card that allows customers to spend the money they have in their bank account without borrowing. Debit cards are linked to the customer’s savings or current account, and the amount spent is deducted from the account balance immediately.
Q: What is Mobile Banking?
Mobile Banking is a service offered by banks in India that allows customers to perform various banking transactions using their mobile phones. Customers can check their account balance, transfer funds, pay bills, and even apply for loans using mobile banking.
Q: How can I open a bank account in India?
To open a bank account in India, you need to visit the bank branch with your identity proof, address proof, and passport-size photographs. You will need to fill in the account opening form and provide your signature and other details as required by the bank.