The Reserve Bank of India (RBI) is the central bank and apex financial institution of the country. It was established in 1935. The RBI regulates and oversees the banking system of India. There are various types of banks in India. Each type of bank is responsible to perform different functions. In this post, I have compiled a list of banks in India (Indian Bank Names List).
Table of Contents
Types of Banks in India
In India, banks are classified into four categories. Types of banks in India are as under.
1. Commercial Banks
Commercial banks in India are broadly classified into the following categories:
- Public sector bank
- Private sector banks
- Foreign banks
- Regional rural banks (RRB)
2. Co-operative Banks
Cooperative banks are further classified into the following categories:
- Urban co-operative banks
- Rural co-operative banks
3. Small Finance Banks
4. Payments Banks
List of Banks in India 2021 (Indian Bank Names List)
At present, there are 12 public sector banks and 21 private sector banks in India. Here, I have compiled the Indian bank names list. Therefore, you will find all the bank names in India (list of bank name) in this blog.
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Public Sector Banks in India
Public Sector Banks are the banks that are owned by the Government. The Government is the major shareholder of more than 50% in the bank. Public sector banks (Govt. Banks in India) are further classified into two categories:
- State Bank and Associates
- Nationalized Banks in India
At present, there are 12 Government Banks in India. Examples of Government banks in India are the State Bank of India (SBI), Punjab National Bank (PNB) and Bank of Baroda (BOB), etc.
List of Public Sector Banks in India 2021
Below is the list of Government banks in India after the merger.
1. State Bank of India (With the merger of State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Indore, State Bank of Patiala, State Bank of Travancore, State Bank of Saurashtra, and Bhartiya Mahila Bank)
2. Bank of Baroda (With the merger of Vijaya Bank and Dena Bank)
5. Canara Bank (With the merger of Syndicate Bank)
7. Indian Bank (With the merger of Allahabad Bank)
10. Punjab National Bank (With the merger of United Bank of India and Oriental Bank of Commerce)
11. UCO Bank
12. Union Bank of India (With the merger of Corporation Bank and Andhra Bank)
The above is the latest list of Nationalised Banks in India.
Private Sector Banks in India
Private Sector Banks are the banks where most of the equity is owned by private shareholders. There are 21 private sector banks operating in India. Examples of private banks are ICICI Bank, HDFC Bank, and Axis Bank, etc.
List of Private Banks in India
1. Axis Bank
2. Bandhan Bank
3. CSB Bank
5. DCB Bank
7. Federal Bank
8. HDFC Bank
9. ICICI Bank
10. IDBI Bank
11. IDFC FIRST Bank
12. IndusInd Bank
13. J&K Bank
14. Karnataka Bank
15. Karur Vysya Bank
17. Nainital Bank
18. RBL Bank
21. YES Bank
Also Read: List of Private Banks in India.
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Foreign Banks
Foreign Banks are the banks headquartered in a different country with branches in India. There are currently 44 foreign banks having a branch in India. Examples of Foreign Banks are American Express, Citi Bank and Standard Chartered Bank, etc.
List of Foreign Banks in India
Following are the foreign banks operating in India.
1. Australia and New Zealand Banking Group Ltd.
2. National Australia Bank
3. Westpac Banking Corporation
4. Bank of Bahrain & Kuwait BSC
5. AB Bank Ltd.
6. Sonali Bank Ltd.
7. Bank of Nova Scotia
8. Industrial & Commercial Bank of China Ltd.
9. BNP Paribas
10. Credit Agricole Corporate & Investment Bank
11. Societe Generale
12. Deutsche Bank
13. HSBC Ltd
14. PT Bank Maybank Indonesia TBK
15. Mizuho Bank Ltd.
16. Sumitomo Mitsui Banking Corporation
17. The Bank of Tokyo- Mitsubishi UFJ, Ltd.
18. Cooperative Rabobank U.A.
19. Doha Bank
20. Qatar National Bank SAQ
21. JSC VTB Bank
22. Sberbank
23. DBS Bank Ltd.
24. United Overseas Bank Ltd.
25. FirstRand Bank Ltd.
26. Shinhan Bank
27. Woori Bank
28. KEB Hana Bank
29. Industrial Bank of Korea
30. Bank of Ceylon
31. Credit Suisse A.G
32. CTBC Bank Co., Ltd.
33. Krung Thai Bank Public Co. Ltd.
34. Abu Dhabi Commercial Bank Ltd.
35. Mashreq Bank PSC
36. First Abu Dhabi Bank PJSC
37 .Emirates NBD Bank PJSC
38. Barclays Bank Plc.
39. Standard Chartered Bank
40. The Royal Bank of Scotland plc
41. American Express Banking Corp.
42. Bank of America
43. Citibank N.A.
44. J.P. Morgan Chase Bank N.A.
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Regional Rural Banks (RRB Banks)
Regional Rural Banks are also scheduled commercial banks. They are established to provide credit to the less fortunate sections of society. These banks usually operate at regional levels in different states of the country. Some regional rural banks may have branches in urban areas as well.
Regional Rural Banks List (List of RRBs)
Below is the list of Regional Rural Banks in India.
1. Assam Gramin Vikash Bank
2. Andhra Pradesh Grameena Vikas Bank
3. Andhra Pragathi Grameena Bank
4. Arunachal Pradesh Rural Bank
5. Aryavart Bank
6. Bangiya Gramin Vikash Bank
7. Baroda Gujarat Gramin Bank
8. Baroda Rajasthan Kshetriya Gramin Bank
9. Baroda UP Bank
10. Chaitanya Godavari GB
11. Chhattisgarh Rajya Gramin Bank
12. Dakshin Bihar Gramin Bank
13. Ellaquai Dehati Bank
14. Himachal Pradesh Gramin Bank
15. J&K Grameen Bank
16. Jharkhand Rajya Gramin Bank
17. Karnataka Gramin Bank
18. Karnataka Vikas Gramin Bank
19. Kerala Gramin Bank
20. Madhya Pradesh Gramin Bank
21. Madhyanchal Gramin Bank
22. Maharashtra Gramin Bank
23. Manipur Rural Bank
24. Meghalaya Rural Bank
25. Mizoram Rural Bank
26. Nagaland Rural Bank
27. Odisha Gramya Bank
28. Paschim Banga Gramin Bank
29. Prathama U.P. Gramin Bank
30. Puduvai Bharathiar Grama Bank
31. Punjab Gramin Bank
32. Rajasthan Marudhara Gramin Bank
33. Saptagiri Grameena Bank
34. Sarva Haryana Gramin Bank
35. Saurashtra Gramin Bank
36. Tamil Nadu Grama Bank
37. Telangana Grameena Bank
38. Tripura Gramin Bank
39. Uttar Bihar Gramin Bank
40. Utkal Grameen Bank
41. Uttarbanga Kshetriya Gramin Bank
42. Vidharbha Konkan Gramin Bank
43. Uttarakhand Gramin Bank
Small Finance Banks in India
Small Finance Banks are niche banks with basic banking services. The main objective is to provide financial inclusion to sections of society that are not served by other banks. These are regulated and controlled by the national government of the country.
Small Finance Banks List
Following are the small finance banks currently operating in India.
2. Capital Small Finance Bank Ltd
3. Fincare Small Finance Bank Ltd.
4. Equitas Small Finance Bank Ltd
5. ESAF Small Finance Bank Ltd.
6. Suryoday Small Finance Bank Ltd.
7. Ujjivan Small Finance Bank Ltd.
8. Utkarsh Small Finance Bank Ltd.
9. North East Small Finance Bank Ltd
10. Jana Small Finance Bank Ltd
Payments Banks in India
Payments bank is a new category of banks in the Indian Banking industry. Payment Banks in India were conceptualized by the RBI. These banks are allowed to operate on a smaller scale without involving any credit risk. They are allowed to accept a nominal deposit of Rs.1 lakh per customer.
Payments Banks List
At present, below is the list of Payments Banks in India.
2. India Post Payments Bank Ltd
Co-operative Banks in India
Co-operative banks in India are financial entities established on a co-operative basis. These banks are run by an elected managing committee. These work on a no-profit no-loss basis. They provide a wide range of regular banking and financial services. The main aim of this banking system is to promote saving and investment habits among people in rural parts of the country.
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Final Thoughts
I hope now you know about the types of different banks which are operating in India. The above-mentioned list of Banks in India changes from time to time. Therefore, you need to get updated information through newspapers, online portals, etc.
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