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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 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.
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.
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] It is a public sector bank and the largest bank in India [12] with a 23% market share by assets and a 25% share of the total loan and deposits market. [13]
Bank of Baroda (BOB or BoB) is an Indian government Public sector bank headquartered in Vadodara, Gujarat. It is the second largest public sector bank in India after State Bank of India. Based on 2023 data, it is ranked 586 on the Forbes Global 2000 list. [6] [7] [8]
Central Bank of India: Mumbai 4.3 0.3 53.7 6.4 Banking 60 1842 Bank of Maharashtra Pune 2.8 0.5 36.8 5.5 Banking 61 1848 Indus Towers: Gurgaon 3.5 0.7 6.7 11.1 Telecommunication 62 1853 Steel Authority of India: New Delhi 12.9 0.4 15.6 8.3 Iron and steel 63 1869 Federal Bank: Kochi: 3.2 0.5 38.1 4.8 Banking 64 1873 DLF: Gurgaon 0.8 0.3 7.2 25.2 ...
The Government of India enacted the Regional Rural Banks Act in 1976, which led to the establishment of the first five RRBs on 2 October 1975. The first RRB was Prathama Bank, which was sponsored by Syndicate Bank and had its headquarters in Moradabad, Uttar Pradesh. The area of operation is limited to the area notified by the government of ...
In the fiscal year 2005-06, Canara Bank became India's second-largest public sector bank in terms of advances and deposits. The bank changed its name to Canara Bank Limited in 1910 when it incorporated. [5] In 2002-03, the bank went in for its Initial Public Offer and raised Rs.110 crores. [2] The India government holds a 73% stake in Canara Bank.