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The share of the bank sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore.
A public bank is a bank, a financial institution, in which a state, municipality, or public actors are the owners.It is an enterprise under government control. [1] Prominent among current public banking models are the Bank of North Dakota, the Sparkassen-Finanzgruppe in Germany, and many nations' postal bank systems.
State Bank of India (SBI) is an Indian multinational public sector bank and financial services statutory body headquartered in Mumbai, Maharashtra.It is the 48th largest bank in the world by total assets and ranked 178th in the Fortune Global 500 list of the world's biggest corporations of 2024, being the only Indian bank on the list. [11]
This is a list of banks which are considered to be Scheduled Banks under the second schedule of RBI Act, 1934. [1] [2]At end-March 2024, India’s commercial banking sector consisted of 12 public sector banks (PSBs), 21 private sector banks (PVBs), 45 foreign banks (FBs), 12 SFBs, six PBs, 43 RRBs, and two LABs.
The scheduled banks are further classified into: nationalised banks; State Bank of India and its associates; Regional Rural Banks (RRBs); foreign banks; and other Indian private sector banks. [7] The SBI has merged its Associate banks into itself to create the largest Bank in India on 1 April 2017.
Bank of India (BoI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. Founded in 1906, it has been government-owned since nationalisation in 1969.
Indian Bank is an Indian public sector bank, established in 1907 and headquartered in Chennai. It serves over 100 million customers with 40,187 employees, 5,856 branches with 4,937 ATMs and Cash deposit machines. Total business of the bank has touched ₹ 1,221,773 crore (US$140 billion) as of 31 March 2024.
On its 108th Foundation day, Central Bank of India launched its first step towards robotic banking, a robot named "MEDHA". CBI is one of twelve public sector banks in India that was recapitalised in 2009. [11] As on 31 March 2021, the bank has a network of 4,608 branches, 3,644 ATMs, ten satellite offices and one extension counter. It has a pan ...