What is the Public Sector Bank?

Public Sector Banks in India – Public Sector Banks (PSBs) are the banks where a majority percentage (more than 50%) stake is held by a government. The shares of these banks are listed on stock exchanges. In India, there are about 27 Public Sector Banks in India.

  • There are a total of 27 PSBs in India – 21 Nationalized banks + 6 State bank group (SBI + 5 associates) and rest two are IDBI Bank and Bharatiya Mahila Bank, which are categorized as other public sector banks.


State Bank and its Associates Banks

Serial No Bank Name Head Quarter/Office Tagline
1 State Bank of India Mumbai The Nation banks on us;
Pure Banking Nothing Else;
With you all the way
2 State Bank of Bikaner Rajasthan
4 State Bank of Hyderabad Hyderabad You can always bank on us
5 State Bank of Mysore Bangalore Working for a better tomorrow
3 State Bank of Patiala Punjab
6 State Bank of Travancore Thiruvananthapuram A Long Tradition of Trust

SBT is set to be merged with State Bank of India with effect from 1st April 2017.


Other Nationalized Banks

Serial No Bank Name Head Quarter/Office Tagline
1 Allahabad Bank Kolkata A tradition of trust
2 Andhra Bank Hyderabad Where India Banks
3 Bank of Baroda Vadodara India’s International Bank
4 Bank of India Mumbai Relationships beyond Banking
5 Bank of Maharashtra Pune One Family One Bank
6 Canara Bank Bangalore Together we Can, It’s easy to change for those who you love
7 Central Bank of India Mumbai Central to you since 1911, Build A Better Life Around Us
8 Corporation Bank Mangalore A Premier Public Sector Bank, Prosperity for all
9 Dena Bank Mumbai Trusted Family Bank
10 Indian Bank Chennai Your Tech-friendly bank
11 Indian Overseas Bank Chennai Good people to grow with
12 Oriental Bank of Commerce Gurugram Where every individual is committed
13 Punjab National Bank New Delhi The Name you can Bank Upon
14 Punjab & Sind Bank New Delhi Where series is a way of life
15 Syndicate Bank Manipal Faithful. Friendly
16 UCO Bank Kolkata Honours Your Trust
17 Union Bank of India Mumbai Good people to bank with
18 United Bank of India Kolkata The Bank that begins with “U”
19 Vijaya Bank Bangalore A friend You can Bank Upon
20 IDBI Bank Ltd Mumbai Banking for all; “ Aao Schein Bada”
21 Bharatiya Mahila Bank New Delhi Empowering women, Empowering Ind”
  • There are total 93 commercial banks in India.
  • The Bharatiya Mahila Bank is set to be merged with State Bank of India with effect from 1st April 2017.
  • The Central Government entered the banking business with the nationalization of the Imperial Bank Of India in 1955. A 60% stake was taken by the Reserve Bank of India and the new bank was named as the State Bank of India.
  • The seven other state banks became the subsidiaries of the new bank when nationalized on 19 July 1960. The next major nationalization of banks took place in 1969 when the government of India, under prime minister Indira Gandhi, nationalized an additional 14 major banks.

Leave a Reply

Your email address will not be published. Required fields are marked *