Nowadays, having a bank account from a young body to the old body becomes necessary to save money and also to receive money from the government under many student schemes like scholarships, etc. Also, knowing more about Banking products helps students to score more marks in the General Knowledge test & quizzes. So to increase your GK skills in banking, we have published the list of all public and private sector Banks in India 2020.
On 30th August 2019, 10 PSB were joined with four huge PSB. Thus, the count of Public sector Banks in India is diminished to 12. Besides, the number of Private sector banks is diminished to 22. Go ahead and check the list of all Indian PSB and Private sector banks 2020 and know the baking products in a detailed way.
- Basic Details About Banks in India
- Types of Commercial Banks in India
- List of Public Sector Banks (PSU) in India 2020
- List of Private Sector Banks in India 2020
- FAQs on Indian Private Sector and Public Sector Banks 2020
Basic Details About Banking in India: List of all Public and Private Sector Banks in India
In India, the Reserve Bank of India(RBI) is having the highest baking regulator authority and it was formed under the act of RBI Act, 1934. Banks in India are mostly divided into two groups, ie., Scheduled Banks and Non-Scheduled Banks. Based on the ownership, commercial banks are classified into two groups i.e. Private Sector Banks and Public Sector Banks, also it has classified into two other groups ie., Regional Rural Bank and Foreign Bank. However, you will get to see the list of PSU and Private Banks in India 2020 from the further sections.
Banks in India are divided into four categories. They are as under
- Commercial Banks
- Small Finance Banks
- Payments Banks
- Co-operative Banks
Types of Commercial Banks in India
Scheduled Banks that have been involved in the Second Schedule of RBI Act,1934 are categorized into four types of banks. They are as follows;
1. Private Sector Banks: The majority of the stake is maintained by private individuals. Examples of Private banks are HDFC Bank, ICICI Bank, and AXIS Bank, etc.
2. Public Sector Banks: The bulk of the stake is maintained by the government. Examples of Public Sector Banks are Punjab National Bank, state bank of India and Central Bank of India, etc.
3. Regional Rural Banks (RRB): The Regional Rural Banks were owned by the Central Government, the State Government, and the Sponsor Bank. Examples of RRBs are Andhra Pradesh Grameena Vikas Bank, Mizoram Rural Bank, etc.
4. Foreign Banks: The list of foreign banks head offices are located outside the country. Examples of Foreign Sector Banks are Standard Chartered Bank, American Express, and Citi Bank, etc.
Here is the list of all private sector banks and public sector banks (PSU) in India in 2020, we have collected from various sources. Check them out before you apply for any bank accounts in the nearest banks India.
Check the List of Public Sector Banks (PSU) in India 2020
| Bank Name | Establishment | Headquarter |
| 1. Bank of Baroda | 1908 | Vadodara, Gujarat |
| 2. Bank of India | 1906 | Mumbai, Maharashtra |
| 3. Bank of Maharashtra | 1935 | Pune, Maharashtra |
| 4. Canara Bank | 1906 | Bengaluru, Karnataka |
| 5. Central Bank of India | 1911 | Mumbai, Maharashtra |
| 6. Indian Bank | 1907 | Chennai, Tamil Nadu |
| 7. Indian Overseas Bank | 1937 | Chennai, Tamil Nadu |
| 8. Punjab and Sind Bank | 1908 | New Delhi, Delhi |
| 9. Punjab National Bank | 1894 | New Delhi, Delhi |
| 10. State Bank of India | 1955 | Mumbai, Maharashtra |
| 11. UCO Bank | 1943 | Kolkata, West Bengal |
| 12. Union Bank of India | 1919 | Mumbai, Maharashtra |
Check the List of Private Sector Banks in India 2020
| Bank name | Establishment | Headquarter |
| 1. Axis Bank | 1993 | Mumbai, Maharashtra |
| 2. Bandhan Bank | 2015 | Kolkata, West Bengal |
| 3.CSB Bank | 1920 | Thrissur, Kerala |
| 4. City Union Bank | 1904 | Thanjavur, Tamil Nadu |
| 5.DCB Bank | 1930 | Mumbai, Maharashtra |
| 6. Dhanlaxmi Bank | 1927 | Thrissur, Kerala |
| 7. Federal Bank | 1931 | Aluva, Kerala |
| 8. HDFC Bank | 1994 | Mumbai, Maharashtra |
| 9. ICICI Bank | 1994 | Mumbai, Maharashtra |
| 10. IndusInd Bank | 1964 | Mumbai, Maharashtra |
| 11. IDFC FIRST Bank | 2015 | Mumbai, Maharashtra |
| 12. Jammu & Kashmir Bank | 1938 | Srinagar, Jammu and Kashmir |
| 13. Karnataka Bank | 1924 | Mangaluru, Karnataka |
| 14. Karur Vysya Bank | 1916 | Karur, Tamil Nadu |
| 15. Kotak Mahindra Bank | 2003 | Mumbai, Maharashtra |
| 16. Lakshmi Vilas Bank | 1926 | Chennai, Tamil Nadu |
| 17. Nainital bank | 1922 | Nainital, Uttarakhand |
| 18. RBL Bank | 1943 | Mumbai, Maharashtra |
| 19. South Indian Bank | 1929 | Thrissur, Kerala |
| 20. Tamilnad Mercantile Bank | 1921 | Thoothukudi, Tamil Nadu |
| 21. YES Bank | 2004 | Mumbai, Maharashtra |
| 22. IDBI Bank | 1964 | Mumbai, Maharashtra |
The above tables help students to know the details about the private sector banks and Public sector banks in India and also these may vary from time to time. So, candidates are advised to get updated information about the PSB and Private banks from the news or other online portals like Ncertbooks.guru
FAQs on Indian Private Sector and Public Sector Banks 2020
1. How many Old and New private sector banks are there in India?
At present, there are 12 old and 9 new private sector banks in India in 2020. Check the above table and get the names of all Indian private banks.
2. How many public sector banks are there in India?
Public Sector Banks (PSBs) is a major type of bank in India, where a majority stake (i.e. more than 50%) is held by the government. There are a total of 12 Public Sector Banks beside 1 state-owned Payments Bank in India.
3. Who is the No 1 bank in India?
HDFC Bank developed as India’s No. 1 bank.
4. Which is the 2nd largest bank in India?
ICICI Bank is India’s second-largest bank with a great network of about 450 branches and offices and nearly 1,750 ATMs.