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 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 and was nationalized in the year 1960,
  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 and was nationalized in the year  1960,
  4. State Bank of Saurashtra /SBS ,
  5. State Bank of Travancore /SBT was founded in the year 1945 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, 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.

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
  2. Bank of Baroda-Founded in the year 1908 in Baroda
  3. Bank of Maharashtra-Founded on 16th September 1935 at Pune
  4. Bank of India-Founded in September 1906 at Mumbai 
  5. Canara Bank-Founded on 1st July 1906 at Bangalore
  6. Central Bank of India-Founded by Sir Sorabji Pochkhanawala at Mumbai in the year 1911.
  7. Dena Bank-Founded on 26th May 1938 by Devkaran Nanjee family
  8. Indian Bank-Founded on 15th August 1907 as a part of Indian Swadeshi Movement at Chennai (then Madras)
  9. Indian Overseas Bank-Founded in the year 1937 at Chennai (then Madras)
  10. Punjab National Bank-Founded in Lahore in the year 1894
  11. Syndicate Bank –Founded in Udipi in Karnataka in the year 1925
  12. UCO Bank-Founded in 1943 by Birla at Kolkata (the then Calcutta)
  13. Union Bank of India-Inaugurated by Mahatma Gandhi in November 1919 . 
  14. United Bank of India-Inaugurated by Mahatma Gandhi in November 1919 – nationalized in 1975

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.

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
  2. Corporation BankFounded in the year 1906 at Udupi in Karnataka
  3. New Bank of India– Established in the year 1968/Renamed as New India Bank in the year 1977
  4. Oriental Bank of Commerce-founded in Februray 1943 at Lahore
  5. Punjab and Sind BankFounded at Amritsar in the year 1908
  6. Vijaya Bank -established by Mr.A.B.Shetty on 23rd October 1931

The following are the Private Sector Scheduled Banks in India:

  • Vysya Bank Ltd
  • Axis Bank Ltd
  • Indusind Bank Ltd
  • ICICI Banking Corporation Bank Ltd
  • Global Trust Bank Ltd
  • HDFC Bank Ltd
  • Centurion Bank Ltd
  • Bank of Punjab Ltd

The following are the Scheduled Foreign Banks in India:

  • American Express Bank Ltd.
  • ANZ Gridlays Bank Plc.
  • 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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