Nationalised Banks in India – List of Government Banks in India

Nationalised Banks in India
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As per the official website of The RBI, the following 12 banks are listed as Nationalised Banks in India. Before going through the list of Government Banks In India (public sector banks (PSBs). Let us understand what is a bank?

A bank is a financial institution that provide different types of banking and financial services to its customers. The bank is authorized to receive the money.

Besides this, a bank also provides lots of other financial services including saving account, wealth management, financial services, currency exchange, life insurance, car loan, home loan, currency exchange, health insurance, and investing  the deposits in funds.

To stimulate economic growth, and backdrop of banking sector reform in India, the Finance Minister of India announced the merger of some public sector banks (PSBs) , and this announcement has come into effect.

After this massive amalgamation, the total number of nationalized banks in India has come down from 27 banks to 12, with the merger of government banks. In this article, we have drawn up a list of nationalized banks in India. (Government Banks and Public sector banks).

Nationalised Banks in India: List of Government Banks In India

  1. Bank of India
  2. Bank of Baroda
  3. Bank of Maharashtra
  4. Central Bank of India
  5. Canara Bank
  6. Indian Overseas Bank
  7. Indian Bank
  8. Punjab National Bank
  9. Punjab and Sind Bank
  10. State Bank of India
  11. Union Bank of India
  12. UCO Bank

1. Bank of India

Bank of India was established in Mumbai on 7th September, 1906 by a group of eminent businessmen.  BOI started with a 50 employees, with a paid-up capital of Rs.50 lakh, one office in Mumbai and made tremendous growth over the years.

BOI was under private ownership and control till 1969, when it was nationalised along with 13 other banks. BOI occupies a premier position among the nationalised banks in terms of business volume.

Today, BOI is one of the trusted nationalised banks in India with a strong national and international presence. In 1997, BOI came out with its maiden public issue and follow on Qualified Institutions Placement in 2008.

Nationalised Banks in India - List of Government Banks in India

Today, it has over 5000 branches in India spread over all states/ union territories  including specialized branches. These branches are controlled through 10 NBG Offices and 59 Zonal Offices.

BOI offers an extensive range of banking and financial services include deposit account, mobile and internet banking, loan, investment, and more.

However, the bank functions in three different segments that are Treasury functions, Wholesale Banking functions, and Retail Banking functions.

Presently bank of India has overseas presence in 18 foreign countries with more than 52 offices including 1 Representative Office, 1 Joint Venture, and 4 Subsidiaries, at key banking and financial centres viz., Hong Kong, Tokyo, Singapore, New York, Paris and London.

Head Office Address & Contact Numbers:

Star House C – 5, “G” Block, Bandra Kurla Complex, Bandra (East), Mumbai 400 051.
Phone Numbers: 022-66684444
Toll free number / Customer service: 1800 22 0229

2. Bank of Baroda

BOB – Bank of Baroda is the second largest Nationalised Banks in India, next to State Bank Of India. BOB is a financial services company and Indian state-owned International banking service company and headquartered in Baroda in Gujarat, India.

It was nationalized in 1969 by the Government of India. Bank of Baroda was founded by Maharaja Sayajirao Gaekwad III, Maharaja of Baroda, in around 1908. Its corporate office is located in Mumbai, Maharashtra.

BOB offers financial and banking services like current account, saving account, personal banking, corporate banking, business banking, fix deposit, different types of investment services, loan  and more. Bank of Baroda has a strong international presence with more than 100 branches and subsidiaries throughout 23 countries.

Head Office Address & Contact Numbers:

Suraj Plaza 1, Sayaji Ganj, Baroda 390005
Phone Numbers: (​0265) 2361852 (10lines)
Customer service / Toll Free Number: 1800 102 4455

3. Bank of Maharashtra

Bank of Maharashtra was founded by V.G. Kale and D.K. Sathe in 1935 in Pune. During 1944, it became a Schedule Bank and was nationalised in 1969. The Bank is a major Nationalised Banks in India and under the ownership of Ministry of Finance.

Bank of Maharashtra provides banking services such as savings account, current account, fixed deposits, term deposits, credit cards, debit cards, internet and mobile banking, online trading, loans (home, corporate, education, agriculture, etc.) and more.

Bank of Maharashtra had 1,900 branches and 15 million customers across the country as of 25 March 2021. As on 31 December 2020, the total business of the Bank of Maharashtra crossed ? 2,66,000 lakh crore. It has the largest network of branches of any government bank in the state of Maharashtra.

Head Office Address & Contact Numbers:

‘Lokmangal’, 1501, Shivajinagar Pune-411005.
Phone Numbers: 020 – 25532731, 733, 734, 735, 736
Customer service / Toll free Numbers: 1800 233 4526

4. Central Bank of India

Central Bank of India was founded in 1911 by Sir Sorabji Pochkhanawala. Its headquarters is in Mumbai, Maharashtra,India. The bank played an important role in creating the first Indian exchange bank in London in 1936 called Central Exchange Bank of India.

After a few years, Central Bank opened it’s first branch in Hyderabad. In 1969, It was nationalised, that time it had 195 branches. Today, Central Bank of India has ten satellite offices, more than 4000 branches, around 3700 ATMs. It is a trusted Nationalised Banks in India.

Nationalised Banks in India

Central Bank of India offers an extensive range of financial and banking services including saving account, current account, corporate banking, cash management, debit and credit cards, home loan, life insurance, business loan, general insurance, fixed deposit, transfer of funds, etc. However, the major functions of the bank include lending money, making investments, and taking deposits.

Head Office Address & Contact Numbers:

Central Bank of India, Chander Mukhi, Nariman Point, Mumbai – 400 021
Contact Number: 022 – 6638 7777
Customer service / Toll Free Number: 1800 22 1911

5. Canara Bank

Established by Ammembal  Subba Rao Pai at Mangalore in 1906 as ‘Canara Bank Hindu Permanent Fund’, later it was renamed Canara Bank Limited in 1910 and nationalized in 1969 by government of India.

Canara Bank is one of the most trusted, oldest, and reputed Nationalised Banks in India. Besides having branches in India, Canara Bank also has branches in other countries such as New York, Dubai, South Africa, London, Moscow, Bahrain, Tanzania, Hong Kong, etc.

Canara Bank offers a wide range of banking services such as corporate and NRI banking, personal banking, bank deposits, Investment, insurance, loans, and more.

As at March 2021, the bank has  more than 10.50 crore customers through a network of 10416 branches. The bank has more than 13452 ATMs across all Indian states and Union Territories.

Head Office Address & Contact Numbers:

No.112, JC Road, Bangalore-560002, Karnataka, India
Customer service / Toll Free Number: 1800 425 0018

6. Indian Overseas Bank

IOB – Indian Overseas Bank is a reputed Indian government owned, Nationalised Banks in India, based in Chennai, India, with about 6 foreign branches, about 3,400 domestic branches, and representative office.

IOB is under the ownership of Ministry of Finance, Government of India. IOB has created various milestones in Indian Banking Sector. Indian Overseas Bank was one of the 14 major banks taken over by the government of India during the nationalisation.

Indian Overseas Bank was founded by M. Ct. M. Chidambaram Chettyar in February 1937 with the main two objectives of overseas banking and specialising in foreign exchange business. M. Ct. M. Chidambaram Chettyar is a pioneer in many fields.

Indian Overseas offers a wide range of banking services such as corporate and NRI banking, personal banking, Digital Banking, NRI, Agriculture, MSME, Retail, bank deposits, Investment, Insurance, Corporate Banking, Credit and Debit Cards, loans (home, education, corporate, agriculture, etc.) and more.

  •  IOB Special Credit Schemes
  • IOB Urban Horticulture Yojana
  • IOB Green Credit Yojana
  • Bhoomi Shakthi
  • IOB – Agri Transport Yojana
  • IOB – Warehouse Receipt Finance
  • Bhumilakshmi
  • IOB – Arthias Yojana
  • IOB – Kisan Tatkal Scheme
  • IOB Sagarlakshmi
  • IOB – Krishi Samridhi Scheme

Head Office Address & Contact Numbers:

Central Office Address: 763 Anna Salai, Chennai – 600002
Phone: +91-44- 28524212
Toll Free No: 1800 890 4445 | 1800 425 4445

7. Indian Bank

Indian Bank was incorporated under the Indian Companies Act in 1907 as “Indian Bank Limited” and commenced operations in 1907, headquartered in Chennai, India. It is one of the top performing Nationalised Banks in India.

It is an Indian government owned financial services and banking company. It serves over 100 million customers with more than 6,004 branches, 41,620 employees, 5,428 ATMs and Cash deposit machines. 

The bank has also overseas branches such as Singapore and Colombo. It has a Foreign Currency Banking Unit at Jaffna and Colombo, about 227 Overseas Correspondent banks in 75 countries.

Indian Bank provides an extensive range of financial and banking services such as personal banking, corporate and NRI banking,  MSME, Retail, bank deposits, Digital Banking, NRI, Agriculture, Investment, Credit and Debit Cards, Insurance, Corporate Banking, loans (business, education, home loan, corporate, agriculture, etc.) and more.

Head Office Address & Contact Numbers:

Annexure Building. (KREST), New No:2, Jehangir Street, Chennai-600 001
Phone Banking Contact No: 1800-4250-0000

8. Punjab National Bank

Punjab National Bank, abbreviated as PNB, was founded in the year 1894 and is one of the oldest Nationalised Banks in India, headquartered in New Delhi, India. PNB is under the ownership of Ministry of Finance, Government of India. 

Punjab National Bank was founded in the year 1894 and is the second largest government bank in India, both in terms of network and its business. It was nationalised in the year 1969.

PNB has over 12,248 branches, more than 180 million customers, and 13,000+ ATMs post merger with Oriental Bank of Commerce and United Bank of India, effective from 2020.

Punjab National Bank has a banking subsidiary in the United Kingdom (UK), as well as branches in Dubai, Hong Kong, Kowloon, and Kabul.

PNB has representative offices in Dubai (United Arab Emirates), Almaty (Kazakhstan), Shanghai  (China), Sydney (Australia), and Oslo (Norway). In Bhutan PNB owns 51% of Druk PNB Bank, which has five branches.

PNB owns 20% of Everest Bank Limited in Nepal, which has 50 branches. Lastly, in Kazakhstan, PNB owns 41.64% of JSC (SB) PNB Bank, which has four branches.

PNB offers a wide range of banking and finacial services including Corporate Loans, Gold Card Scheme for Exporters, EXIM finance, Doorstep Banking Services, Cash Management Services, Capital Services,  Mutual Funds, Depository Services, Insurance, Merchant Banking, and more.

Head Office Address & Contact Numbers:

Plot No 4, Sector -10 Dwarka New Delhi -110075
Customer service / Toll Free Number: 1800 180 2222

9. Punjab and Sind Bank

Punjab & Sind Bank is a leading Nationalised Banks in India, Head Office located in New Delhi. It is under the ownership of Government of India (Ministry of Finance).

The bank has 25 Zonal Offices which are widely spread across India. The bank has more than 1526 branches out of which 635 branches are in only Punjab state.

Punjab & Sind Bank was founded by Bhai Vir Singh, Sardar Tarlochan Singh, and Sir Sunder Singh Majitha on 24 June 1908 in Amritsar, Punjab, India. Punjab & Sind Bank established a branch in London In 1960. Baroda acquired Punjab & Sind Bank’s London branch iIn 1991.

PSB offers banking services like Saving Account, Premier Current Account, Premier Saving Account, retail loans, investment, Recurring Deposite Account, mutual fund, insurance, Locker,  Fixed Deposit, home loan, and more. PSB also offer Government Schemes such as Public Provident Fund(PPF), SukanayaSamriddhi Scheme, Pension Account, Senior Citizen Scheme, NPS Contribution, National Pension Scheme and more.   

Head Office Address & Contact Numbers:

1st Floor, 21, Rajendra Place, New Delhi-110008
Toll Free Number: 1800-419-8300

10. State Bank of India

State Bank of India (SBI) is one of the oldest, trusted, and reputed Nationalised Banks in India, headquartered in Mumbai, Maharashtra, India. SBI is a public sector banking and financial services statutory body.

SBI is ranked 221st in the Fortune Global 500 list of the world’s biggest corporations of 2020, and the 43rd largest bank in the world; SBI is the only Indian bank on the list.

SBI has a nearly 250,000 employees, also fifth largest employer in India. It is the largest government bank in India and public sector bank with a 25% share of the total loan and deposits market and 23% market share by assets.

SBI provides an extensive range of banking products through its network of branches in India and Overseas, including saving account, current account, corporate banking, investment, mutual funds, insurance, credit card, debit card, locker facility, mCash – Claim Money, Loan against Shares, Over

Draft against Fixed Deposit, Instant Money Transfer(IMT), Home, car, personal, educational loan and more.

SBI has 16 regional and 57 zonal offices that are located at important cities include Delhhi, Mumbai, Chennai, Kolkatta, Bangalore, Hyderabad, Ahmedabad, Nagpur, Pune, Patna and throughout India.

Head Office Address & Contact Numbers:

State Bank Bhavan, 16th– Floor, Madam Cama Road, Mumbai-400021.
Contact Numbers: +91-22-22029456 +91-22-22742431
Toll Free Number: 1800 425 3800

11. Union Bank of India

Union Bank of India, UBI, is one of the largest Indian government-owned, Nationalised Banks in India. UBI registered in 1919 as a limited company in Mumbai, Maharashtra, India UBI was inaugurated by Mahatma Gandhi.

It is under the ownership of Ministry of Finance. UBI has a total business of US$106 billion and 120+ million customers.

After the amalgamation with Andhra Bank and Corporation Bank, UBI became the fifth largest public sector banks (PSU bank) in terms of branch network with more than 9500 branches. Four of these are located overseas in Antwerp, Hong Kong, Sydney, and Dubai.

UBI also has representative offices at Abu Dhabi, Beijing and Shanghai. The bank operates in the UK through its wholly owned subsidiary, Union Bank of India (UK).

Union Bank of India, UBI offers a wide range of financial and banking products through its network of branches in India and overseas, including saving account, salary account, current account, corporate banking, insurance, credit card, debit card, investment, mutual funds, locker facility, personal loan, educational, home and car loan, Flexi deposit schemes, Term deposit, Monthly income scheme (MIS), and more.

Head Office Address & Contact Numbers:

Union Bank Bhavan, 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400021.
Customer service / Toll Free Number: 1800 22 2244

12. UCO Bank

UCO Bank is a leading Nationalised Banks in India and major Indian government-owned commercial bank, headquarters is on BTM Sarani, Kolkata. It is under the ownership of Government of India (Ministry of Finance).

Its total business was ₹ 3.24 lakh crore during FY 2020–21. Based on 2020-21 data, UCO Bank, formerly United Commercial Bank is ranked 80 on the Fortune India 500 list. It is one of the 12 public sector Bank of India. UCO Bank was ranked 1948 in Forbes Global 2000 list of year 2018. 

UCO bank has more than 55 zonal offices and 5,000 plus service units spread all over India. It also has two overseas branches in Hong Kong and Singapore. UCO Bank’s UCO bank provides a wide range of financial and banking services through its network of branches in India and overseas, including current account, saving account, corporate banking, insurance, salary account, debit card, locker facility, investment, mutual funds, personal loan, home and car loan, education loan, insurance, Term deposit, Monthly income scheme (MIS), and more.

Head Office Address & Contact Numbers:

UCO Bank, 10, B T M Sarani, Kolkata – 700 001. West Bengal India.
Toll Free Number: 1800 103 0123

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Hope you find useful list of Nationalised Banks in India (Government Banks and Public sector banks).

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