List of Commercial Banks in India

Monday, September 5, 2011

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

SBI s the Largest and the Oldest Commercial Bank in India. SBI originated in the year 1806 as the "Imperial Bank of India" and it is the "First Commercial Bank", nationalized in India in the year 1955 which is 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)-Founded by the last Nizam of Hyderabad in the year 1941-(Nationalized in 1960),
  2. State Bank of Mysore (SBM)-Established in 1913 as by (late) Dr. M. Visvesvaraya under the sponsorship of the then Government of Mysore- (Nationalized in 1960),
  3. State Bank of Patiala (SBP)-Founded on 17th of November, 1917 by His Highness Bhupindar Singh, the Maharaja of the princely state of Patiala- (Nationalized in 1960),
  4. State Bank of Saurashtra (SBS) ,
  5. State Bank of Travancore (SBT)-Founded in the year 1945- (Nationalized in 1960),
  6. State Bank of Bikaner and Jaipur (SBBJ)-Founded in 1963 at Jaipur- (State Bank of Bikaner founded in 1944 took over the State Bank of Jaipur founded in 1943)- (Nationalized in 1969) and
  7. State Bank of Indore (SBIR)-Founded in the year 1963- (Nationalized in 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:

IDBI-Industrial Development Bank of India 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 Bank-Founded 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 Bank-Founded 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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Comments 12 comments
samit said...

dear dena bank aur bank of maharastra kitni bar nationalised huya hai??

InfoQueenbee said...

Thanks Samit,

The errors rectified

The Credit goes to Samit.

InfoQueenBee

Anonymous said...

ausum article..........
this helped me alot to do my economics assignment.......

Anonymous said...

this page had helped me lot in doing my business studies assignment.

Anonymous said...

thanks samit u helpd me to do my business studies project

Anonymous said...

in 1969 list syndicate bank and union bank shall hav to be added

Anonymous said...

sbi aur other banks me kya fark h ???

Sandhi verma said...

thnx helpful fr my topic of commercial banks basic ...

Anonymous said...

Thank u Thaliyva

saurabh said...

can anyone tell me the exact no of commercial banks only in india? means is it 21 or 27 or 28? i am really very confused.

Kartikya Arora said...

Thnqq This Info heLped mE aLoT in My Assignment........ :)

Anonymous said...

commercial banks are 29(27+IDBI+BMB) now in 2014

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