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List of Public Sector Banks in India, Complete List

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.

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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

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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.

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.

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