Indian Banks

Indian banks form a significant part of the country's economy. These banks can be broadly categorized into nationalized banks and private banks which also include foreign banks. The operations of all these banks are regulated by the Reserve Bank of India, which is the central bank and supreme financial authority in India. At present, the four key banks in India are ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank.

Indian Banks: An overview

Nationalized banks

Given below are the names of the nationalized banks in India:

Allahabad Bank, Bank of Baroda, Andhra Bank, Bank of Maharashtra, Bank of India, Central Bank of India, Canara Bank, Dena Bank, Corporation Bank, Indian Bank, UP Agro Bank Corporation Ltd, Oriental Bank of Commerce, Indian Overseas Bank, Punjab National Bank, Punjab & Sind Bank, State Bank of Bikaner & Jaipur, State Bank of India, State Bank of Mysore, State Bank of Hyderabad, State Bank of Indore (currently merged with State Bank of India), State Bank of Saurashtra (currently merged with State Bank of India), State Bank of Patiala, Syndicate Bank, State Bank of Travancore, Union Bank of India, UCO Bank, Vijaya Bank, United Bank of India.

Of late, IDBI (Industrial Development Bank of India) has been included in the list of public sector banks in India.

Private sector banks

The private sector banks in India are mentioned below:

City Union Bank, Catholic Syrian Bank, Federal Bank, Dhanlaxmi Bank, Karnataka Bank, Jammu & Kashmir Bank, Nainital Bank, Karur Vysya Bank, South Indian Bank, Lakshmi Vilas Bank, ABN-Amro Bank, ICICI Bank, HDFC Bank, ING Vysya Bank, Indusind Bank, Kotak Mahindra Bank, Yes Bank, and Axis Bank.

Some foreign private sector banks are also operating in India and they include names like the following: Abu Dhabi Commercial Bank, ABN AMRO Bank N.V. (currently merged with Royal Bank of Scotland), Bank Internasional Indonesia, American Express Bank, Bank of Ceylon, Bank of America NA, Bank of Tokyo Mitsubishi UFJ, Bank of Nova Scotia (Scotia Bank), BNP Paribas, Barclays Bank PLC, Chinatrust Commercial Bank, Calyon Bank, DBS Bank, Citibank N.A., HSBC (Hong Kong and Shanghai Banking Corporation), Deutsche Bank AG, Krung Thai Bank, JPMorgan Chase Bank, Mizuho Corporate Bank, Mashreq Bank Psc, Shinhan Bank, Royal Bank of Scotland (RBS), Sonali Bank, Societe Generale, State Bank of Mauritius, Standard Chartered Bank, VTB, and UBS.

Cooperative Banks in India

Other than the abovementioned banks, there are some co-operative banks in India and the names are given below:
  • Adarsh Co-Operative Bank Ltd.
  • Sadhna Sahakari Bank Ltd.
  • Vishweshwar Sahakari Bank Ltd.
  • Deogiri Nagari Sahakari Bank Ltd.
  • Sanmitra Sahakari Bank Ltd.
  • Ajantha Urban Co Op Bank Ltd.
  • Shri Chhatrapati Rajashi Shahu Urban Co Op Bank Ltd.

Scheduled Banks and Non-Scheduled Banks in India

Indian banks can be also classified into scheduled and non-scheduled banks. Currently, India is home to 96 scheduled commercial banks or SCBs. Of these 96 banks, 31 banks are private sector banks (where the Government of India doesn't hold any stake, however they are listed with major stock exchanges and their stocks are bought and sold via these exchanges), 27 are public sector banks (where the Government of India enjoys a stake), and 38 are foreign or overseas banks. Together, these banking institutions have an extensive network of over 53,000 branches and 49,000 ATMs (automated teller machines).

Last Updated on 03 February 2012