Top National Banks in India: A Comprehensive List for Financial Insight

Nationalised Bank is a term used for financial organizations that are owned and operated by the government. Nationalised banks are also known as public segment banks.

The number of nationalised banks in India has been meaningfully reduced after the government in 2021 combined 10 PSBs into four banks. As of October 2023, there are 12 national banks in India.

The State Bank of India (SBI) traces its ancestry to the Bank of Calcutta originated in 1806. It is the oldest profitable bank in the Indian subcontinent. SBI delivers a wide range of products and services to persons, commercial enterprises, large corporates, public bodies and recognized customers through its numerous branches and outlets, joint ventures, subsidiaries, and associate companies.

Head office: State Bank of India, Central Office

Chairman’s Secretariat, P.B. No.12, Nariman Point

Mumbai – 400 021

Established in July 1908, BoB is India’s leading public sector bank with a strong national presence maintained by self-service channels. The bank’s delivery network includes over 8,200 branches, more than 10,000 ATMs, over 1,200 self-service e-lobbies and 20,000 business reporters. The Bank has an important international presence with a network of 100 branches/offices of subsidiaries, spanning 20 countries.

Head office: Baroda House, Mandvi

Vadodara – 390006

Gujarat 

Founded in September 1906, the bank was under private possession and control till July 1969 when it was nationalised along with 13 other banks. The bank has over 5100+ divisions in India spread over all states/ union areas. There are 45 branches/offices abroad which comprises 23 own branches, 1 characteristic office and 4 subsidiaries (20 branches) and one joint venture.

Head office: Express Towers

Nariman Point

Mumbai – 400 021

Recorded on September 16, 1935, with a capital of Rs 10 lakh, the Bank of Maharashtra (BoM) now has a main network of 1,375 branches than any other public sector bank in Maharashtra. The lender proposals depository services and demat facilities at 131 branches. It has a system of 345 ATMs.

Head office: Lok Mangal

1501, Shivaji Nagar, Post Box No. 919

Pune – 411 005

Head office: 112, Jayachamarajendra Road

Post Box No. 6648

Bangalore – 560 002

Central Bank of India

Head office: Central Office

Chander Mukhi, Nariman Point

Mumbai – 400 021

Indian Overseas Bank (IOB) was founded on February 10, 1937, with the main objective of specialising in foreign conversation business in banking to take the bank across the globe. IOB started business concurrently – at Karaikudi, Chennai and Rangoon in Burma (now Myanmar) trailed by a branch in Penang, Malaysia. At the dawn of Individuality, IOB had 38 branches in India and 7 branches abroad -and deposits stood at Rs.6.64 crores and fees at Rs 3.23 crore at that time.

IOB was one of the 14 main banks that were nationalised in 1969. On the eve of nationalization in 1969, IOB had 195 branches in India with collective deposits of Rs.67.70 Cr. and Advances of Rs.44.90 crore. The bank presently has its overseas presence in 4 countries: Singapore, Hongkong, Thailand and Srilanka.

Head office: Central Office

762, Anna Salai, P.B. No. 3765

Chennai – 600 002

Chennai-headquartered Indian Bank is an Indian public sector bank, recognized in 1907. It has 227 overseas communicator banks in 75 countries. Allahabad Bank was merged with it in 2020, making Indian Bank the seventh-largest bank in the country. It helps over 100 million customers with 41,645 employees, 5,814 branches with 4,929 ATMs and cash credit machines. Total business of the bank has affected Rs 1,094,752 crore as of March 2023.

Head office: Indian Bank Building

P.B. No. 1384, 31, Rajaji Road

Chennai – 600 001

Punjab National Bank (PNB), India’s first Swadeshi Bank, ongoing its operations on April 12, 1895, from Lahore. The bank was the first bank purely achieved by Indians with Indian capital. Through the long history of the Bank, 9 banks have been multiple/ amalgamated with PNB. As at the end of September 2023, the bank had a total of 51,519 delivery channels with a network of 10,092 national branches, 2 International branches, 12,645 ATMs and 28,782 business journalists.

Head office: 7, Bhikaji Cama Place, Africa Street

New Delhi – 110 066

Founded in 1943, UCO Bank is a profitable bank and a government undertaking. Its Board of Directors contains government representatives as well as eminent professionals like accountants, organization experts, economists, businessmen, etc. UCO Bank has been instrumental in providing financial support to all sections of the economy, including agriculture, industry, trade and commerce, the service sector, the substructure sector etc. The bank has a network of more than 3,000 service units, which comprise branches in India and overseas.

Head office: Union Bank Building

Central Office, 239, Backbay Reclamation

Post Box No. 93A, Nariman Point

Mumbai – 400 021

Punjab and Sind Bank

Head office: Bank House

Fourth floor, 21, Rajendra Place

New Delhi – 110 008

Head office: 10, Biplabi Trailokya Maharaj, Sarani

Kolkata – 700 001

Lean of national banks/public segment banks in India in October 2023

Bank Head office/address

Bank of Baroda - Central Office, PO Box No. 10046, 9th Floor, Baroda Corporate Centre, Bandra Kurla Compound, Bandra (East), Mumbai-400 051

Bank of India - Main Office, Star House, C-5, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai-400 051

Bank of Maharashtra - Lokmangal, 1501, Shivaji Nagar, Pune-411 005.

Canara Bank - 112, JC Road, PB No. 6648, Bangalore-560 002

Central Bank of India - Chandramukhi, Nariman Point, Mumbai-400 021

Indian Bank - 31, Rajaji Road, Chennai-600 001

Indian Foreign Bank - Central Office, 763, Anna Salai, PB No. 3765, Chennai-600 02

Punjab National Bank - Plot No 4, Sector-10, Dwarka New Delhi-110 066

Punjab and Sind Bank - Bank House, 21, Rajindra Place, New Delhi-110 008

Union Bank of India - 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400 021

UCO Bank - 10, BTM Sarani, Brabourn Road, Calcutta-700 001

State Bank of India - State Bank Bhavan, Madam Cama Road, Mumbai-400 021