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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.
Public Sector Undertakings (PSU) in India are government-owned entities in which at least 51% of stake is under the ownership of the Government of India or state governments.These type of firms can also be a joint venture of multiple PSUs. These entities perform commercial functions on behalf of the government.
Public sector banks in India. Subcategories. This category has the following 3 subcategories, out of 3 total. P. Public Sector Banks in India (4 C, 13 P) R.
Pages in category "Public Sector Banks in India" The following 13 pages are in this category, out of 13 total. This list may not reflect recent changes. *
Ministry of Finance, Dept of Economic Affairs, Banking & Insurance Division Mumbai, Maharashtra: Services Insurance 141 NLC India Limited: 1956 Ministry of Coal: Tamil Nadu: Mining Coal & Lignite Navratna Category 142 State Bank of India: 1956 Ministry of Finance: Services Banking 143 NLC Tamil Nadu Power: 2006 Ministry of Coal: Tamil Nadu
The Reserve Bank of India, India's central banking authority, was established in April 1935, but was nationalized on 1 January 1949 under the terms of the Reserve Bank of India (Transfer to Public Ownership) Act, 1948 (RBI, 2005b). [31]
The first mutual funds in India were created in 1964 [9] by the Unit Trust of India. In 1987, the leading public sector banks of the country, such as SBI and Canara Bank, set up their mutual funds. It became popular after the 1991 liberalization of the Indian economy. By the end of 2006, there were around 200 mutual funds schemes in India.