The list of Government banks in India includes a total of 12 public sector banks (PSBs) that are the backbone of India’s financial system. These banks are owned by the government, with at least 51% of their shares held by the state. They play a crucial role in driving economic growth and promoting financial inclusion.
Some of the top government banks in India are the State Bank of India (SBI), Bank of Baroda (BoB), Canara Bank, Punjab National Bank (PNB), and more. Most of the government banks in India like the Allahabad Bank, Syndicate Bank, Oriental Commerce Bank, etc, have now been merged. Check out the updated list of government banks in India for easy reference.
Table of contents
- What Are Government Banks in India?
- List of Government Banks in India 2025
- List of Largest Government Banks in India
- Overview of the Top Government Banks in India
- List of Government Banks Which Got Merged After 2020
- Features of the Best Government Banks in India
- Importance of Public Sector Banks in India
- FAQS on List of Government Banks in India
What Are Government Banks in India?
Government banks in India are financial institutions in which the government holds a majority stake of 51% or more. These banks are also called public-sector banks. They offer a wide range of services, including savings accounts, loans, fixed deposits, and business banking solutions.
The primary role of government banks in India is to provide banking services to the public, promote financial inclusion, and support national economic development. The nationalization of government banks in India took place in two significant phases:
- Phase 1 (1969): Indian Prime Minister Indira Gandhi nationalized 14 major private banks.
- Phase 2 (1980): The government acquired 6 more private banks to strengthen the public banking sector.
After several mergers and consolidations in recent years, India now has 12 nationalised banks in India. Let’s take an overview of the list of government banks in India 2025
Also Read: Know all about some of the top public sector banks education loans in India. Check study abroad education loans, features, interest rates, etc here.
List of Government Banks in India 2025
As of 2025, the list of Government Banks in India comprises 12 prominent banks. These public sector banks in India offer a variety of financial services, ranging from personal banking products to corporate banking solutions, catering to millions of customers across India.
Here’s the list of government banks in India that dominate the banking sector:
- State Bank of India (SBI)
- Bank of Baroda (BOB)
- Punjab National Bank (PNB)
- Bank of India (BOI)
- Union Bank of India (UBI)
- Canara Bank
- Bank of Maharashtra (BoM)
- Central Bank of India
- Indian Overseas Bank (IOB)
- Indian Bank
- UCO Bank
- Punjab and Sind Bank
List of Largest Government Banks in India
State Bank of India (SBI) is the largest public sector bank in India, both in terms of assets and market capitalization. However, several other large government banks in India have established themselves as pillars of trust and reliability.
Let’s explore the list of government banks in India by size, highlighting their market capitalization, branch networks, and headquarters.
| Rank | Bank Name | Market Capitalization | Number of Branches | Headquarters |
| 1 | State Bank of India (SBI) | INR 713,567.99 Crores | 22,500+ | Mumbai, Maharashtra |
| 2 | Bank of Baroda (BoB) | INR 126,698.37 Crores | 9,693 | Vadodara, Gujarat |
| 3 | Punjab National Bank (PNB) | INR 116,710.84 Crores | 12,248 | New Delhi, India |
| 4 | Canara Bank | INR 91,114.69 Crores | 9,723 | Bengaluru, Karnataka |
| 5 | Union Bank of India | INR 89,962.04 Crores | 8,473 | Mumbai, Maharashtra |
| 6 | Bank of India (BOI) | INR 46,801.43 Crores | 5,139 | Mumbai, Maharashtra |
| 7 | Indian Bank | INR 73,860.77 Crores | 5,847 | Chennai, Tamil Nadu |
| 8 | Indian Overseas Bank (IOB) | INR 97,007.18 Crores | 3,236 | Chennai, Tamil Nadu |
| 9 | Central Bank of India | INR 46,139.19 Crores | 4,500+ | Mumbai, Maharashtra |
| 10 | UCO Bank | INR 51,434.53 Crores | 3,230 | Kolkata, West Bengal |
| 11 | Bank of Maharashtra | INR 44,000 Crores | 1,900+ | Pune, Maharashtra |
| 12 | Punjab and Sind Bank | INR 17,000 Crores | 1,400+ | New Delhi, India |
These banks play a vital role in shaping India’s banking sector, serving millions of customers with diverse financial needs, from retail banking products to corporate solutions.
Overview of the Top Government Banks in India
So far, you’ve had an overview of the list of the largest government banks in India, ranked according to market capitalization. Now, let’s take a closer look at the list of the largest government banks in India one by one, highlighting their market influence, branch networks, and contributions to the nation’s economy.
State Bank of India (SBI)
SBI is the largest public sector bank in India, known for its vast network and extensive range of financial products. Founded in 1806 as the Bank of Calcutta, it has grown to become India’s premier banking institution. As one of the leading entries in the list of government banks in India, SBI has set standards for banking services nationwide.
Here is an overview of the State Bank of India (SBI):
- Market Capitalization: INR 713,567.99 Crores
- Number of Branches: 22,500+
- ATMs: 63,580+
- Headquarters: Mumbai, Maharashtra
- Key Features: SBI offers personal banking services, corporate banking, wealth management, and government services. You can easily get a personal loan from SBI to meet your financial needs, including funding for higher education.
Punjab National Bank (PNB)
PNB is one of the oldest public sector banks in India, established in 1894. It provides a wide range of services, including retail, corporate, and NRI banking. PNB is an important name in the list of government banks in India, with a massive presence both in India and abroad.
Here is an overview of Punjab National Bank (PNB):
- Market Capitalization: INR 116,710.84 Crores
- Number of Branches: 12,248
- ATMs: 13,000+
- Headquarters: New Delhi, India
- Key Features: PNB offers savings accounts, loans, insurance, and wealth management services. It is also renowned for its strong international presence. One can easily secure Punjab National Bank personal loan to fulfil their academic dreams.
Bank of Baroda (BoB)
Established in 1908, Bank of Baroda is one of the largest and most internationally recognized public sector banks in India. With a global presence, it has earned the trust of millions of customers. It holds a prominent position in the list of government banks in India, consistently contributing to India’s banking sector.
Here is an overview of Bank of Baroda (BoB):
- Market Capitalization: INR 126,698.37 Crores
- Number of Branches: 9,693
- ATMs: 10,033+
- Headquarters: Vadodara, Gujarat
- Key Features: BoB offers a range of services including personal loans, mortgages, credit cards, and wealth management services. The bank also facilitates student education loans to help individuals pursue higher studies with ease. Take an overview of Bank of Baroda Education Loan.
Canara Bank
Canara Bank, founded in 1906, is another large government bank with a nationwide presence. Known for its commercial banking services, it also plays an active role in rural development. As part of the list of public sector banks in India, Canara Bank continues to build its position as a major financial institution.
Here is an overview of Canara Bank:
- Market Capitalization: INR 91,114.69 Crores
- Number of Branches: 9,723
- ATMs: 13,423
- Headquarters: Bengaluru, Karnataka
- Key Features: Canara Bank provides personal and corporate banking services, including loans, deposits, and insurance. Students can avail of Canara Bank education loans easily from this bank to meet their academic expenses conveniently.
Also Read: Check out the Canara Bank education loan processing time and know how long it takes for loan approval and verification.
Union Bank of India
Union Bank of India is a major player in the public sector banking space, offering a wide range of services to its customers. Established in 1919, it has since expanded its operations significantly. As one of the top banks in the list of public sector banks in India, Union Bank of India continues to serve millions with its diverse financial offerings.
Here is an overview of the Union Bank of India:
- Market Capitalization: INR 89,962.04 Crores
- Number of Branches: 8,473
- ATMs: 9,342
- Headquarters: Mumbai, Maharashtra
- Key Features: Union Bank offers personal banking, corporate banking, and wealth management solutions. Students looking for financial assistance can easily secure a Union Bank of India education loan to study abroad.
Bank of India (BOI)
Bank of India, founded in 1906, is a prominent nationalized bank in India. It offers a variety of financial services including loans, deposits, and more. As a major name in the list of government banks in India, BOI remains an important player in both retail and corporate banking.
Here is an overview of Bank of India (BOI):
- Market Capitalization: INR 46,801.43 Crores
- Number of Branches: 5,139
- ATMs: 5,551
- Headquarters: Mumbai, Maharashtra
- Key Features: BOI offers personal banking, corporate banking, and insurance services, catering to a diverse set of customers.
Indian Bank
Founded in 1907, Indian Bank is known for its strength in retail and corporate banking. It offers an array of services, and its integration with other financial services has positioned it as a leading government bank. It is a crucial part of the list of public sector banks in India, contributing to India’s economic stability.
Here is an overview of the Indian Bank:
- Market Capitalization: INR 73,860.77 Crores
- Number of Branches: 5,847
- ATMs: 4,937
- Headquarters: Chennai, Tamil Nadu
- Key Features: Indian Bank offers loans, deposits, and digital banking services.
Indian Overseas Bank (IOB)
Indian Overseas Bank was founded in 1937 and has been a key player in India’s financial landscape. Known for its strong focus on international banking, it also provides a wide range of banking services. As part of the list of government banks in India, IOB continues to focus on global banking and financial inclusion.
Here is an overview of the Indian Overseas Bank (IOB):
- Market Capitalization: INR 97,007.18 Crores
- Number of Branches: 3,236
- ATMs: 3,506
- Headquarters: Chennai, Tamil Nadu
- Key Features: IOB offers various financial products, including home loans, personal loans, and savings accounts. It also provides IOB Education Loan to study abroad with ease to promote academic growth.
Central Bank of India
The Central Bank of India, established in 1911, is one of the oldest public sector banks in India. It offers a wide array of financial services and is a key player in the national banking space. As an essential entry in the list of public sector banks in India, it has a wide-reaching presence across the country.
Here is an overview of the Central Bank of India:
- Market Capitalization: INR 46,139.19 Crores
- Number of Branches: 4,500+
- ATMs: 3,644+
- Headquarters: Mumbai, Maharashtra
- Key Features: The Central Bank provides banking services such as loans, deposits, and insurance.
UCO Bank
UCO Bank, founded in 1943, is another major public sector bank that offers a variety of financial services to its customers. As part of the list of government banks in India, UCO Bank is committed to supporting financial inclusion through its services.
Here is an overview of UCO Bank:
- Market Capitalization: INR 51,434.53 Crores
- Number of Branches: 3,230
- ATMs: 2,564
- Headquarters: Kolkata, West Bengal
- Key Features: UCO Bank provides personal banking services such as savings accounts, personal loans, and business banking services.
Bank of Maharashtra
Bank of Maharashtra, established in 1935, is one of the most trusted banks in the public sector. It plays a vital role in providing financial support to sectors such as agriculture, MSMEs, and rural areas. Bank of Maharashtra holds a key position in the list of public sector banks in India as a trusted name in financial services.
Here is an overview ofthe Bank of Maharashtra:
- Market Capitalization: INR 44,000 Crores
- Number of Branches: 1,900+
- ATMs: 1,400+
- Headquarters: Pune, Maharashtra
- Key Features: It provides savings accounts, fixed deposits, home loans, and educational loans.
Punjab and Sind Bank
Founded in 1908, Punjab and Sind Bank is a government-owned bank that has a strong presence in Punjab and surrounding areas. It provides a variety of banking services to individuals and businesses. As an essential part of the list of government banks in India, it continues to serve customers with personalized banking solutions.
Here is an overview of Punjab and Sind Bank:
- Market Capitalization: INR 17,000 Crores
- Number of Branches: 1,400+
- ATMs: 1,100+
- Headquarters: New Delhi, India
- Key Features: It offers a range of financial products such as savings accounts, personal loans, and fixed deposits.
Also Read: Get to know more about the PNB education loan interest rates, factors affecting the interest rates, calculations, rebates and RLLR.
List of Government Banks Which Got Merged After 2020
In recent years, the government of India has implemented a series of mergers involving public sector banks to streamline operations, enhance efficiency, and improve their competitive edge. In these mergers, several smaller banks were combined with larger, well-established ones. Below is the list of government banks in India that got merged after 2020:
| Government Bank | Merged To |
| Oriental Bank of Commerce, United Bank | Punjab National Bank |
| Andhra Bank, Corporation Bank | Union Bank of India |
| Syndicate Bank | Canara Bank |
| Allahabad Bank | Indian Bank |
These mergers not only created larger and more robust banking institutions but also helped strengthen India’s financial system, ensuring better service delivery across the country.
Features of the Best Government Banks in India
Government banks in India are pillars of the nation’s financial infrastructure, offering a wide array of banking services that cater to both individuals and businesses. Here are some key features that make government banks in India stand out as some of the best financial institutions in the country.
Comprehensive Financial Services
Government banks in India are responsible for providing a wide range of financial services, including loans, deposit accounts, credit cards, and insurance products. These services cater to both individuals and businesses, making government banks essential players in the financial ecosystem.
Foreign Exchange and Remittance Services
In addition to traditional banking services, government banks also handle foreign exchange transactions, money transfers, and remittances. This allows them to facilitate international trade, foreign investments, and personal money transfers for their customers.
Custodians of Public Funds
Government banks play a crucial role in safeguarding public funds. They ensure the safety and security of the money deposited by individuals, businesses, and government institutions. These banks are trusted with managing the financial assets of the nation.
Regulatory Oversight
Government banks in India are governed by the regulations set by various financial regulatory bodies, such as the Reserve Bank of India (RBI) and the Securities and Exchange Board of India (SEBI). These regulations ensure that government banks operate securely and transparently, offering reliable banking services.
Corporate Governance and Risk Management
These banks are required to adhere to stringent corporate governance practices and risk management standards. This ensures that government banks maintain financial stability, transparency, and accountability while minimizing risks related to their operations.
These features highlight why government banks in India are trusted by millions and continue to play a pivotal role in the country’s financial landscape.
Importance of Public Sector Banks in India
Public sector banks are integral to the economic growth of India. These banks are not only vital for promoting financial inclusion but also play a significant role in implementing government schemes, supporting small and medium enterprises (SMEs), and providing affordable financial solutions to all segments of society.
By offering various banking services, government banks contribute to creating a more robust financial ecosystem that supports India’s growing economy. They continue to offer various services, from savings accounts and loans to government-backed schemes, making banking accessible to all.
The list of government banks in India showcases the importance of public sector banks in shaping the nation’s economy. These banks offer diverse financial products and services that cater to individuals, businesses, and various sectors. As India moves forward on its path to becoming a global economic powerhouse, the role of government banks will continue to be vital in ensuring sustainable growth and financial inclusion.
FAQS on List of Government Banks in India
The list of government banks in India includes:
– State Bank of India (SBI)
– Bank of Baroda (BOB)
– Punjab National Bank (PNB)
– Bank of India (BOI)
– Union Bank of India (UBI)
– Canara Bank
– Bank of Maharashtra (BoM)
– Central Bank of India
– Indian Overseas Bank (IOB)
– Indian Bank
– UCO Bank
– Punjab and Sind Bank
The list of government banks in India as of 2025 comprises 12 public sector banks, each contributing significantly to the nation’s financial infrastructure.
Government banks in India, also referred to as public sector banks, are financial institutions where the government owns a majority stake (more than 50%). These banks provide a range of banking services to individuals, businesses, and organizations.
The State Bank of India (SBI) tops the list of government banks in India as the largest public sector bank in terms of assets, market capitalization, and branch network.
The government banks in India offer services such as savings and current accounts, loans, fixed deposits, credit cards, remittances, insurance, and foreign exchange solutions.
Government banks provide benefits such as financial security, lower service charges, wide branch networks, easy access to government schemes, and adherence to strict regulatory standards by the Reserve Bank of India (RBI).
Yes, recent mergers have streamlined the list of government banks in India. For instance, Oriental Bank of Commerce and United Bank merged with Punjab National Bank, while Andhra Bank and Corporation Bank merged with Union Bank of India.
Government banks in India play a vital role in promoting financial inclusion, implementing government schemes, supporting small businesses, and ensuring the financial stability of the country.
Yes, most banks on the list of government banks in India offer foreign exchange services, facilitating international trade, remittances, and personal foreign currency needs.
Yes, most government banks in India offer specialized NRI (Non-Resident Indian) banking services, including NRE, NRO, and FCNR accounts, catering to the financial needs of NRIs globally.
To learn more about the best bank accounts for students, education loans, forex, banking experience for global students, or international money transfers, reach out to our experts at 1800572126 to help ease your experience with studying abroad.
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