List of government banks in India: All you need to know

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List of government banks in India: All you need to know

The former 27 Govt banks in India were

  • Allahabad Bank
  • Andhra Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • Indian Bank
  • Indian Overseas Bank
  • Oriental Bank of Commerce
  • Punjab & Sind Bank
  • Punjab National Bank
  • Syndicate Bank
  • UCO Bank
  • Union Bank of India
  • United Bank of India
  • Vijaya Bank
  • IDBI Bank((77.79% government stake)
  • SBI+and it’s five associate Banks
  • Bharatiya Mahila Bank

With the announcement made on 30th August 2019, the number of public sector banks (government banks) has come down from 27 in 2017 to 12.

Below are the mergers of the public sector banks( Government Banks) as announced

Banks to be mergedRank
Punjab National Bank, Oriental Bank of Commerce and United Bank2nd largest Public Sector Bank
Canara Bank and Syndicate Bank4th largest Public sector Bank
Union Bank, Andhra Bank and Corporation bank5th largest Public Sector Bank
Indian Bank and Allahabad Bank7th largest Public sector Bank

The Current List of 12 Public Sector Banks (Government Banks)

State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank and Bank of Maharashtra.

Bank NameRevenuesEstablishedHeadquartersInformation
State Bank of India₹2,110 billion1955Mumbai, MaharashtraFormerly known as Imperial Bank of India, SBI remains till date the largest public sector bank in India.
Punjab National Bank ₹774.22 billion1894New Delhi, DelhiNew name of the amalgamated 3(Punjab National Bank, Oriental Bank of Commerce and United Bank).
2nd largest public sector bank in India.
Bank of Baroda: ₹422 billion1908Vadodara, GujaratDena Bank and Vijaya Bank merged with Bank of Baroda, creating the third-largest public sector bank by loans in the country.
Bank of India₹418 billion1906Mumbai, MaharashtraBOI is a commercial bank nationalised in July 1969 along with 13 other banks.
founded by a group of eminent businessmen from Mumbai, Maharashtra
Bank of Maharashtra₹130.53 billion1935Pune MaharashtraThe bank was founded by V. G. Kale and D. K. Sathe and registered It was nationalised in in 1969.
Union Bank of India₹696.39 billion1919Mumbai, MaharashtraThe  bank has a network of 2,600 fully automated CBS branches, 3,040 ATMs
Canara Bank₹558.30 billion1906Bengaluru, KarnatakaCanara Bank is one of the largest nationalised public sector banksEstablished at Mangalore by Ammembal Subba Rao Paiand and  nationalised in 1969
Central Bank of India₹259 billion1911Mumbai, MaharashtraOldest and largest commercial banks
Indian Bank₹405.74 billion1907Chennai, TamilnaduIt has 20,924 employees, 2900 branches with 2861 ATMs and 1014 cash deposit machines and is one of the top performing public sector banks in India
Indian Overseas bank₹235.2 billion1937Chennai, TamilnaduThiru.M. Ct. M. Chidambaram Chettyar established the Indian Overseas Bank (IOB) to encourage overseas banking and foreign exchange operations 
Punjab and Sind Bank₹87.44 billion1908New DelhiOf its 1559 branches spread throughout India, 623 branches are in Punjab state.
UCO Bank₹185.61 billion1943Kolkata, WBUCO Bank, formerly United Commercial Bank, established in 1943 in Kolkata, is a major government-owned commercial bank of India. G. D. Birla, an eminent Indian industrialist was the architect of this organisation 

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