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Top 10 Banks in India 2023: Check List of Largest BanksSeptember 27, 2023
List of public sector banks in India and their headquarters: A bank is a financial entity that takes public deposits and generates credit. Borrowing activities can be carried out directly or indirectly via capital markets. In numerous examinations such as SBI PO, SBI Clerk, IBPS PO, IBPS Clerk, IBPS RRB Office Assistant, IBPS RRB Officer Scale 1 and many more, you will undoubtedly encounter a few questions centred on Public Sector Banks (PSB) in India.
Hence, we have provided the list of PSB with their headquarters and mottos. The appropriate maintenance of the transaction list is the primary process followed by all Indian banks. Government banks allow swift money transfers and payments to their users. Scroll down to check the public sector banks list.
Banks that are operated by the government and whose owners are also members of the Indian government are referred to as public sector banks. A bank is considered a public sector bank if the government owns more than 51% of its capital. All public sector banks in India are overseen by the Reserve Bank of India, which the Indian Government’s financial department regulates.
The Indian government normally appoints one chief executive of this public sector bank, who makes all operational decisions for the bank. However, on August 30, 2019, Finance Minister Nirmala Sitharaman announced the consolidation of many series of Indian Government Banks. As a result of this statement, numerous banks merged, and now there are a total of 12 public sector banks in India.
Check out the list of Public Sector Banks in India and their Headquarters from the below table:
|Public Sector Banks in India||Headquarters (State)||Establishment Year|
|Punjab National Bank||New Delhi||1894|
|Indian Bank||Chennai (Tamilnadu)||1907|
|State Bank of India||Mumbai (Maharashtra)||1955|
|Canara Bank||Bangalore (Karnataka)||1906|
|Union Bank of India||Mumbai (Maharashtra)||1919|
|Indian Overseas Bank||Chennai (Tamilnadu)||1937|
|UCO Bank||Kolkata (West Bengal)||1943|
|Bank of Maharashtra||Pune (Maharashtra)||1935|
|Punjab and Sind Bank||New Delhi||1908|
|Bank of India||Mumbai (Maharashtra)||1906|
|Central Bank of India||Mumbai (Maharashtra)||1911|
|Bank of Baroda||Vadodara (Gujarat)||1908|
The second-largest government bank is Punjab National Bank. Amalgamated 3 is the new name of the unified Punjab National Bank, Oriental Bank, and United Bank. This bank was founded in the spirit of nationalism and was the first bank controlled entirely by Indian capital. The Chief Executive Officer (CEO) of PNB is Atul Kumar Goel.
The oldest bank in India is Indian Bank. This bank has a workforce of 39,734 employees who served over 100 million customers. It also includes 5,721 bank branches with 5,428 ATMs and cash deposit machines. The managing director or CEO of Indian Bank is Shri Shanti Lal Jain.
It is India’s first and largest central government bank. It was also referred to as the Imperial Bank of India. India. SBI is ranked 236th among Fortune Global 500 companies. SBI now has the largest branch network in India due to the merger of its five partner banks. The banks merged in SBI are State Bank of Bikaner and Jaipur (SBBJ), State Bank of Mysore (SBM), State Bank of Travancore (SBT), State Bank of Hyderabad (SBH) and State Bank of Patiala (SBP).
The chairman of SBI is Shri Dinesh Kumar Khara. However, the chief financial officer is Charanjit Surinder Singh Attra. There are 4 managing directs in SBI:
The fourth-largest nationalized bank in India is Canara Bank. It is owned by the Government of India’s Ministry of Finance. It was founded in Mangalore in 1906 by Ammembal Subba Rao Pai. The Syndicate Bank merged with this bank. K Satyanarayana Raju has been designated as the new MD and CEO of Canara Bank.
UBI is the fifth-largest public sector bank in India. Before achieving independence, the bank was incorporated as a limited business, and Mahatma Gandhi served as its first president. The central government finalised the merger of Andhra Bank and Corporation Bank into the Union Bank of India on April 1, 2020, in accordance with Section 9 of the Banking Companies Act, 1970/80. The CEO of Union Bank of India is A. Manimekhalai.
The Indian Overseas Bank (IOB) was established in February 1937 with the dual goals of specialising in foreign exchange and overseas banking. It began with three branches in India, Karaikudi and Chennai, and Rangoon, Burma. Now, there are over 3214 domestic branches, 3270 ATMs and 4 overseas branches. The CEO of IOB is Ajay Kumar Srivastava.
The full form of UCO Bank is United Commercial Bank Ltd. A group of prominent Indian businesspeople founded UCO Bank. It is a commercial bank that has given individuals outstanding economic facilities. Shri Soma Sankara Prasad is the CEO of UCO Bank.
With 2291 branches in India, this bank has 29 million customers nationwide. On December 2, 2018, Shri. A.S. Rajeev was appointed as Managing Director and CEO of the Bank of Maharashtra.
Punjab & Sind Bank is a public sector bank based in New Delhi, India. As of 18 April 2023, the bank had 1553 branches scattered across India, 635 of which were in the state of Punjab, and 25 zonal offices located throughout the country. Swarup Kumar Saha is the CEO of Punjab & Sind Bank.
One of the top nationalized banks is the Bank of India. A prestigious group from Mumbai and Maharashtra formed it. The Bank of India is a founding member of the Society for Worldwide Inter-Bank Financial Telecommunications (SWIFT). Atanu Kumar Das is the Managing Director & CEO of BOI.
The first commercial bank in India that was entirely owned and run by Indians was the Central Bank of India. The dream of the Bank’s founder, Sir Sorabji Pochkhanawala, was finally realized with the foundation of the Bank. There are 178 extension counters and 3656 branches in its network. Mr Matam Venkata Rao joined as MD & CEO of this bank.
The third-largest multinational Indian bank is the Bank of Baroda (BOB). The BOB was formed through the merger of Dena Bank and Vijaya Bank. Shri Sanjiv Chadha is the Managing Director and Chief Executive Officer of BOB.
Check out the taglines of all the 12 public sector banks in India from the below table:
|Public Sector Banks in India||Taglines|
|Punjab National Bank||The Name You Can Bank Upon|
|Indian Bank||Your Own Bank/ Apka Apna Bank|
|State Bank of India||Pure Banking, Nothing Else|
|Canara Bank||Together We Can|
|Union Bank of India||Good People to Bank With|
|Indian Overseas Bank||Good People to Grow With|
|UCO Bank||Honours Your Trust|
|Bank of Maharashtra||One Family One Bank/ Ek Parivaar, Ek Bank|
|Punjab and Sind Bank||Where Service is a Way of Life|
|Bank of India||Relationship Beyond Banking|
|Central Bank of India||Build a Better Life Around Us/ Central To You Since 1911|
|Bank of Baroda||India’s International Bank|
Below are some of the most commonly asked questions on the List of PSB with their Headquarters and Mottos.
A: The term “public sector banks” refers to institutions that are owned and operated by members of the Indian Government.
A: There are a total of 12 public sector banks in India.
A: You can get the complete list of PSB with their Headquarters and Mottos from this blog,
A: Dena Bank and Vijaya Bank got merged into Bank of Baroda.
A: Apka Apna Bank is the tagline of Indian Bank.
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