List of Public Sector Banks in India, Complete List

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Public Sector Banks in India

A bank is generally a financial institution licensed by the government to receive deposits and make loans. The public sector banks or Government Banks are those banks which are operated by the government and its owners are also associates of the Indian government. A bank is also classified as a public sector bank if the government owns more than 51% of the bank’s stock. In India, at present, there are 12 public sector banks. All banks are headed by the Reserve Bank of India, which is controlled by the Indian government’s financial department. The Indian government usually appoints one chief of this public sector bank, who is given the charge of making all of the bank’s operational decisions.

List of Public Sector Banks in India

Finance minister Nirmala Sitharaman made an announcement of public sector bank mergers on 30th August 2019, the number of public sector banks has reduced to 12. In this article, candidates will be provided with the details of the government banks list in India 2022 after the merger of banks. . It also provides other financial support to the customer. Government banks or public sector banks are a major type of government-owned banks in India, where a majority stake is held by the Ministry of Finance of the Government of India or State Ministry of Finance of various State Governments of India. In public sector banks, the government owns more than 51% of shareholdings. Reserve bank of India is India’s central banking institution and supreme banking authority.

Government Banks List in India 2022
S. No	Public Sector Banks	Tagline	Government Share Holding (as at end-March 2022)	Established On	Headquarters
1	State Bank of India	Pure Banking, Nothing Else	57.59%	1955	Mumbai, Maharashtra
2	Punjab National Bank	The Name You Can Bank Upon	73.15%	1894	New Delhi, Delhi
3	Bank of Baroda	India’s International Bank	63.97%	1908	Vadodara, Gujarat
4	Bank of India	Relationship Beyond Banking	81.41%	1906	Mumbai, Maharashtra
5	Bank of Maharashtra	Ek Parivaar, Ek Bank (One Family One Bank)	90.90%	1935	Pune Maharashtra
6	Union Bank of India	Good People to Bank with	83.49%	1919	Mumbai, Maharashtra
7	Canara Bank	Together We Can	62.93%	1906	Bengaluru, Karnataka
8	Central Bank of India	Central to You Since 1911, Build a better life around us	93.08%	1911	Mumbai, Maharashtra
9	Indian Bank	Your Own Bank, Banking That’s Twice As Good	79.86%	1907	Chennai, Tamilnadu
10	Indian Overseas bank	Good People To Grow With	96.38%	1937	Chennai, Tamilnadu
11	Punjab and Sind Bank	Where Service is a Way of Life	98.25%	1908	New Delhi
12	UCO Bank	Honours your Trust	95.39%	1943	Kolkata, WB

Public Sector Banks: FAQs

Q1. Which institution is the supreme banking authority?
Ans. Reserve Bank of India.

Q2. At present, what is the number of public sector banks in India?
Ans. The number of public sector banks has reduced to 12 after the merger in 2019.