List of Commercial Banks in India

The Commercial Banks in India may be broadly classified into the following categories:

  • Public Sector /Nationalized Banks,
  • Private Sector Banks (Indian) and 
  • Foreign-Commercial Banks in India.
Public Sector/Nationalized Commercial Banks in India:
State Bank of India / SBI

State of India / SBI s the Largest and the ‘Oldest Commercial Bank in India’.

State Bank of India / SBI was originated formed  in the year 1806 as the “Imperial Bank of India” .
State Bank of India / SBI is the “First Commercial Bank”, nationalized in India in the year 1955.

State Bank of India / SBI is basically and primarily  ‘of’ and ‘for’ the Government of India.

Nationalized Commercial Banks in India:

The following 7 commercial banks were nationalized and made the Subsidiaries of State Bank of India ( 4 in the year on 19th July 1960 and 3 on 19th July 1969) :

  1. State Bank of Hyderabad / SBH was founded by the last Nizam of Hyderabad in the year 1941 with Head Quarters at Hyderabad, Telengana and was nationalized in the year 1960,
  2. State Bank of Mysore / SBM was established in the year 1913  by (late) Dr. M. Visvesvaraya, under the sponsorship of the then Government of Mysore. The Present Head Office of SBM is in Bengaluru, Karnataka.
  3. State Bank of Patiala /SBP was founded on 17th of November, 1917 by His Highness Bhupindar Singh, the Maharaja of the princely state of Patiala with Head Office at Patiala, Punjab and was nationalized in the year  1960,
  4. State Bank of Saurashtra /SBS -In the year 2007 SBS was merged with State Bank of India.
  5. State Bank of Travancore /SBT was founded in the year 1945 with Head Office at Thiruvananthapuram, Kerala and was nationalized in the year 1960,
  6. State Bank of Bikaner and Jaipur /SBBJ -State Bank of Jaipur /SBJ was founded in the year 1943 and the  State Bank of Bikaner /SBB was founded in the year 1944. State Bank of Bikaner took over the State Bank of Jaipur in the year 1963  and the State Bank of Bikaner and Jaipur /SBBJ was formed with Head Office at Jaipur, Rajasthan, which was nationalized in the year 1969.
  7. State Bank of Indore /SBIR was founded in the year 1963and was nationalized in the year 1969. In the year 2010 SBIR was merged with State Bank of India.

Presently the following 5 Banks are the Subsidiary Banks of State Bank of India:

  1. State Bank of Hyderabad/SBH,
  2. State Bank of Mysore/SBM
  3. State Bank of Patiala/SBP,
  4. State Bank of Travancore/SBT and
  5. State Bank of Bikaner and Jaipur 

The following 14 Major Commercial Banks were nationalized on 19th July 1969 during the then Prime Minister of India, Mrs.Indira Gandhi:-

  1. Allahabad Bank-Founded by a Group of Europeans on 24th April 1865 at Allahabad, Uttar Pradesh. The present Head Office of Allahabad Bank is at Kolkata, West Bengal.
  2. Bank of Baroda-Founded in the year 1908 in Baroda/presently known as Vadodara with Head Office at Vadodara, Gujarath.
  3. Bank of Maharashtra-Founded on 16th September 1935 at Pune, Maharashtra, with its Head Office at Pune, Maharashtra.
  4. Bank of India-Founded in September 1906 at Mumbai 
  5. Canara Bank-Founded on 1st July 1906 at Mangalore/Mangaluru, Karnataka with its Head Office at Bengaluru,Karnataka.
  6. Central Bank of India-Founded  by Sir Sorabji Pochkhanawala in the year 1911  at Bombay/presently known as Mumbai, Maharashtra with its Head Office at Mumbai, Maharashtra.
  7. Dena Bank-Founded by Devkaran Nanjee Family on 26th May 1938 at Bombay/presently known as Mumbai, Maharashtra, with its Head Office at Mumbai, Maharashtra.
  8. Indian Bank-Founded on 15th August 1907 as a part of Indian Swadeshi Movement at Madras, presently known as Chennai, Tamilnadu, with its Head Office at Chennai, Tamilnadu.
  9. Indian Overseas Bank-Founded in the year 1937 at Madras, presently known as Chennai, Tamilnadu, with its Head Office at Chennai, Tamilnadu.
  10. Punjab National Bank-Founded in Lahore, Punjab, presently at Pakstan in the year 1894, with its present Head Office at New Delhi.
  11. Syndicate Bank –Founded in Udipi, Karnataka in the year 1925 with its Head Office at Manipal, Karnataka.
  12. UCO Bank-Founded in 1943 by Birla at Calcutta, presently known as Kolkata, West Bengal with its Head Office at Kolkata, West Bengal.
  13. Union Bank of India/.UBI –Inaugurated by Mahatma Gandhi in November 1919 at Bombay, presently known as Mumbai, Maharashtra, with its Head Office at Mumbai, Maharashtra.. 
  14. United Bank of India/UBI was formed in the year 1950 by merger /amalgamation  of 4 Bengali Banks: 1.Comilla Banking Corporation, 2. Bengali Central Bank, 3. Comilla Union Bank and 4. Hooghly Bank. in the year 1961 Cuttack Bank and Tezpur Industrial Bank were merged with United Bank of india.

IDBI Bank Ltd:

Industrial Development Bank of India / IDBI Bank Ltd was established as a subsidiary of Reserve Bank of India /RBI on 1st July 1964, with its Head Office in Bombay, presently known as Mumbai, Maharashtra.

From 1st October 2004 IDBI Bank Ltd started commencing as a Full Service Commercial Bank.

The following 6 Commercial Banks were nationalized in the year 1980:

  1. Andhra Bank –Founded in the year 1923 at Machilippattinam, Andhra Pradesh, with its Head Office at Hyderabad, Telengana.
  2. Corporation BankFounded in the year 1906 at Udupi,  Karnataka, with its Head Office at Mangalore, Karnataka.
  3. New Bank of India-Founded in the year 1936 at Lahore, Punjab, presently in Pakistan and  renamed as New India Bank in the year 1977, with its present Head Office at New Delhi.
  4. Oriental Bank of Commerce-Founded in February 1943 at Lahore,Punjab, presently in Pakistan with its present Head Office at Gurgaon, Haryana. On 14th August 2004, Global Trust Bank/GTB was amalgamated with Oriental Bank of Commerce/OBC
  5. Punjab and Sind BankFounded at Amritsar, Punjab,  in the year 1908 with its present Head Office at New Delhi.
  6. Vijaya Bank -established by Mr.A.B.Shetty on 23rd October 1931 at Mangalore/Mangaluru, Karnataka, with its present Head Office at Bengaluru, Karnataka.

The following are the Private Sector Scheduled Banks in India:

  • ING Vysya Bank Ltd- Vysya Bank Ltd was established in the year 1930 in Bangalore/Bengaluru, Karnataka-In the year 2002, Vysya Bank was merged with ING Group and is known as ING Vysya Bank Ltd, with its Head Office at Bengaluru, Karnataka
  • Axis Bank Ltd- UTI Bank was established in the year 1993, with its Registered Office at Ahmedabad,Gujarath and Head Office at Mumbai, Maharashtra- The name UTI Bank was changed as Axis Bank on 30th July 2007, with its Registered Office at Ahmedabad, Gujarath and Head Office at Mumbai, Maharashtra.
  • Indusind Bank Ltd-Established in the year 1994 at  Mumbai, Maharashtra, with its Head Office at Mumbai, Maharashtra.
  • HDFC Bank Ltd-established in the year 1994 and was incorporated in the year 1995 at Mumbai, Maharashtra,with its Head Office at Mumbai, Maharashtra.
  • Centurion Bank of Punjab Ltd- Centurian Bank  was established in the year 1994 with its Head Office at Mumbai, Maharashtra and on 29th June 2005 Centurian Bank Ltd and Bank of Punjab Ltd were merged and Centurian Bank of Punjab was formed with its Head Office at Mumbai, Maharashtra.

The following are the Scheduled Foreign Banks in India:

  • Bank of America NT & SA
  • Bank of Tokyo Ltd.
  • Banquc Nationale de Paris
  • Barclays Bank Plc
  • Citi Bank N.C.
  • Deutsche Bank A.G.
  • Hongkong and Shanghai Banking Corporation
  • Standard Chartered Bank.
  • The Chase Manhattan Bank Ltd.
  • Dresdner Bank AG.

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