PSU Banks List in India (Public Sector Banks India)

Public sector banks are banks operated and owned by the government, with the majority of their stocks (more than 51%) owned by the Indian government. Currently, there are 12 public sector banks in India. The Reserve Bank of India, overseen by the government’s financial department, regulates all banks. Typically, the Indian government appoints a chief for each public sector bank, responsible for making operational decisions for the bank.

Public sector banks in India, commonly known as the government banks of India, play a fundamental role in shaping the country’s financial landscape and considerably influencing its economic development. These banks have played a key role in promoting financial inclusion and socio-economic progress by actively supporting government initiatives like Jan Dhan Yojana and Mudra Yojana. With their extensive branch networks, they ensure that banking services reach even the remotest corners, promoting accessibility for all.

Despite facing challenges such as heightened competition from private banks and the need to adopt advanced technology, government banks in India remain an essential component of the country’s banking system. This article will explore into the dynamics of public sector banks in India.

List of PSU Banks in india – (Public Sector Banks India)

Sr. No. Bank Market Cap (Rs Crore) Headquarter
1 State Bank of India 5,00,179.88 Mumbai
2 Bank of Baroda 1,00,272.71 Vadodara
3 Punjab National Bank 83,518.55 New Delhi
4 Union Bank of India 79,239.07 Mumbai
5 Indian Overseas Bank 74,343.19 Chennai
6 Canara Bank 71,005.06 Bengaluru
7 Indian Bank 51,094.22 Chennai
8 UCO Bank 45,014.18 Kolkata
9 Bank of India 42,533.46 Mumbai
10 Central Bank of India 38,300.30 Mumbai
11 Bank of Maharashtra 30,697.75 Pune
12 Punjab & Sind Bank 27,653.37 New Delhi

List of Regional Rural Banks in India

  • Andhra Pradesh
    • Andhra Pragathi Grameena Bank
    • Chaitanya Godavari Gramin Bank
    • Saptagiri Gramin Bank
  • Arunachal Pradesh
    • Arunachal Pradesh Rural Bank
  • Assam
    • Assam Gramin Vikash Bank
  • Bihar
    • Dakshin Bihar Gramin Bank
    • Uttar Bihar Gramin Bank
  • Chhattisgarh
    • Chhattisgarh Rajya Gramin Bank
  • Gujarat
    • Baroda Gujarat Gramin Bank
    • Saurashtra Gramin Bank
  • Haryana
    • Sarva Haryana Gramin Bank
  • Himachal Pradesh
    • Himachal Pradesh Gramin Bank
  • Jammu and Kashmir
    • J&K Grameen Bank
    • Ellaquai Dehati Bank
  • Jharkhand
    • Jharkhand Rajya Gramin Bank
  • Karnataka
    • Karnataka Gramin Bank
    • Karnataka Vikas Grameena Bank
  • Kerala
    • Kerala Gramin Bank
  • Madhya Pradesh
    • Madhyanchal Gramin Bank
    • Madhya Pradesh Gramin Bank
  • Maharashtra
    • Maharashtra Gramin Bank
    • Vidharbha Konkan Gramin Bank
  • Manipur
    • Manipur Rural Bank
  • Meghalaya
    • Meghalaya Rural Bank
  • Mizoram
    • Mizoram Rural Bank
  • Nagaland
    • Nagaland Rural Bank
  • Odisha
    • Odisha Gramya Bank
    • Utkal Grameen Bank
  • Puducherry
    • Puduvai Bharathiar Grama Bank
  • Punjab
    • Punjab Gramin Bank
  • Rajasthan
    • Baroda Rajasthan Kshetriya Gramin Bank
    • Rajasthan Marudhara Gramin Bank
  • Tamil Nadu
    • Tamil Nadu Grama Bank
  • Telangana
    • Telangana Grameena Bank
    • Andhra Pradesh Grameena Vikas Bank
  • Tripura
    • Tripura Gramin Bank
  • Uttar Pradesh
    • Aryavart Bank
    • Prathama UP Gramin Bank
    • Baroda UP Bank
  • Uttarakhand
    • Uttarakhand Gramin Bank
  • West Bengal
    • Paschim Banga Gramin Bank
    • Bangiya Gramin Vikash Bank
    • Uttarbanga Kshetriya Gramin Bank

List of Top 10 government banks in India by market cap

State Bank of India

  • CEO: Dinesh Kumar Khara
  • Revenue FY 22-23 (Cr.): 3,32,103.06
  • The State Bank of India (SBI), established in 1955, stands as the largest public sector bank in India, playing a prominent role in the nation’s financial sector. With a comprehensive range of banking and financial services, SBI serves millions of domestic and international clients. In the first quarter of the 2023-24 fiscal year, SBI surpassed Reliance Industries to become India’s most profitable corporation.

Bank of Baroda

  • CEO: Debadatta Chand
  • Revenue FY 22-23 (Cr.): 89,588.54
  • Founded in 1908, the Bank of Baroda (BoB) holds the second position among India’s top 10 public sector banks. BoB is known for its extensive range of financial services both domestically and globally. Notably, BoB created history with the first-ever three-way merger alongside Dena Bank and Vijaya Bank. Recent filings show a significant 88.7 percent increase in net profit during the April-June quarter of FY 2023-24.

Punjab National Bank

  • CEO: Atul Kumar Goel
  • Revenue FY 22-23 (Cr.): 85,144.11
  • Established in 1894, Punjab National Bank (PNB) holds the third position among India’s top 10 public sector banks. Headquartered in New Delhi, PNB boasts a customer base exceeding 180 million. PNB recently signed a Memorandum of Understanding (MoU) with REC (Rural Electrification Corporation) to explore funding opportunities in the Power Infrastructure and logistics sectors.

Union Bank of India

  • CEO: A. Manimekhalai
  • Revenue FY 22-23 (Cr.): 80,743.34
  • The Union Bank of India, the fourth-largest public sector bank established in 1919, has a substantial nationwide presence. In 1969, the bank underwent nationalization, contributing to the country’s progress. The Union Bank has introduced two new debit card variants on the Rupay network, catering to ultra HNI individuals and women.

Indian Overseas Bank

  • CEO: Ajay Kumar Srivastava
  • Revenue FY 22-23 (Cr.): 19,400.33
  • Founded in 1937, Indian Overseas Bank (IOB) operates as a prominent public sector bank headquartered in Chennai, Tamil Nadu. The bank reported a 28 percent increase in net profit in the past year, reaching Rs500 crores, attributed to healthy loan growth and interest income.

Canara Bank

  • CEO: K. Satyanarayana Raju
  • Revenue FY 22-23 (Cr.): 84,424.78
  • Established in 1906, Canara Bank, headquartered in Bengaluru, Karnataka, boasts a rich legacy of catering to the financial requirements of numerous patrons. Canara Bank raised Rs5,000 crores by issuing Long Term Infrastructure Bond, Series I Bonds in the fiscal year 2022-23.

Indian Bank

  • CEO: Shanti Lal Jain
  • Revenue FY 22-23 (Cr.): 44,942.21
  • Established in 1907 and headquartered in Chennai, Tamil Nadu, Indian Bank is committed to offering innovative banking solutions and customer-centric services.

UCO Bank

  • CEO: Ashwani Kumar
  • Revenue FY 22-23 (Cr.): 17,650.51
  • Founded in 1943, UCO Bank maintains a substantial national presence in Kolkata, West Bengal. The bank reported a significant 80 percent increase in net profit for the April-June 2023 quarter, reaching Rs223 crores.

Central Bank of India

  • CEO: Matam Venkata Rao
  • Revenue FY 22-23 (Cr.): 25,541.89
  • Founded in 1911, the Central Bank of India is among India’s top 10 public sector banks. The bank reported a notable increase in net profit for the April-June 2023 quarter, reaching Rs418.4 crores.

Bank of India

  • CEO: Rajneesh Karnatak
  • Revenue FY 22-23 (Cr.): 47,647.72
  • Established in 1906 and headquartered in Mumbai, Maharashtra, the Bank of India (BoI) is one of India’s oldest public sector banks. BoI reported a significant increase in net profit to Rs1,551 crores for the June 2023 quarter, attributed to reduced bad loans and higher margins resulting from the repricing of existing assets.

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