{"id":3625,"date":"2023-04-27T12:43:37","date_gmt":"2023-04-27T07:13:37","guid":{"rendered":"https:\/\/fly.finance\/blog\/?p=3625"},"modified":"2025-03-01T19:33:32","modified_gmt":"2025-03-01T14:03:32","slug":"list-of-nationalised-banks-in-india","status":"publish","type":"post","link":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/","title":{"rendered":"What Are The Nationalised Banks in India?"},"content":{"rendered":"\n<p>Nationalised banks in India refer to commercial banks that have been taken over or owned by the government. These banks in India play a crucial role in the country\u2019s economic development, financial inclusion, and banking sector reforms. Since the nationalisation of banks in India has witnessed a transformation in its banking infrastructure, ensuring access to banking services for every segment of society. <\/p>\n\n\n\n<p>This article provides an in-depth analysis of nationalised banks in India, list of nationalised banks, their history, objectives, impact, and how they work. Continue reading to know more!<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-are-nationalised-banks-in-india\" data-level=\"2\">What Are Nationalised Banks in India?<\/a><ul><li><a href=\"#h-pre-independence-era\" data-level=\"3\">Pre-Independence Era<\/a><\/li><li><a href=\"#h-post-independence-period-1947-1969\" data-level=\"3\">Post-Independence Period (1947-1969)<\/a><\/li><li><a href=\"#h-era-of-bank-nationalisation-1969-amp-1980\" data-level=\"3\">Era of Bank Nationalisation (1969 &amp; 1980)<\/a><\/li><\/ul><\/li><li><a href=\"#h-list-of-nationalised-banks-in-india\" data-level=\"2\">List of Nationalised Banks in India<\/a><\/li><li><a href=\"#h-overview-of-nationalised-banks-in-india-in-detail\" data-level=\"2\">Overview of Nationalised Banks in India in Detail<\/a><ul><li><a href=\"#h-state-bank-of-india-sbi\" data-level=\"3\">State Bank Of India (SBI)<\/a><\/li><li><a href=\"#h-punjab-national-bank-pnb\" data-level=\"3\">Punjab National Bank (PNB)<\/a><\/li><li><a href=\"#h-bank-of-baroda-bob\" data-level=\"3\">Bank of Baroda (BoB)<\/a><\/li><li><a href=\"#h-canara-bank\" data-level=\"3\">Canara Bank<\/a><\/li><li><a href=\"#h-union-bank-of-india\" data-level=\"3\">Union Bank of India<\/a><\/li><li><a href=\"#h-bank-of-india-boi\" data-level=\"3\">Bank of India (BoI)<\/a><\/li><li><a href=\"#h-indian-bank\" data-level=\"3\">Indian Bank<\/a><\/li><li><a href=\"#h-bank-of-maharashtra\" data-level=\"3\">Bank of Maharashtra<\/a><\/li><\/ul><\/li><li><a href=\"#h-faqs-on-nationalised-banks-in-india\" data-level=\"2\">FAQs on Nationalised Banks in India<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-nationalised-banks-in-india\"><span id=\"what-are-nationalised-banks-in-india\">What Are Nationalised Banks in India?<\/span><\/h2>\n\n\n\n<p>A nationalised banks in India are the financial institutions which was previously privately owned but has been taken over by the government through an act of nationalisation. In Nationalising process of banks allows the government to own a majority stake i.e. over 51%, in the bank which makes it a public sector entity.<\/p>\n\n\n\n<p>Nationalised banks are regulated by the Reserve Bank of India (RBI) and have their governance under the Ministry of Finance, Government of India. They provide a wide range of banking services, including savings and current accounts, loans, insurance, and investment options.<\/p>\n\n\n\n<h2 id=\"history-of-nationalised-banks-in-india\" class=\"wp-block-heading\">History of Nationalised Banks in India<\/h2>\n\n\n\n<p>The evolution of government banks in India can be traced through three major phases:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-pre-independence-era\"><span id=\"pre-independence-era\">Pre-Independence Era<\/span><\/h3>\n\n\n\n<p>During British rule, banking was primarily controlled by private and foreign entities. The first Indian bank, the Bank of Hindustan, was established in 1770. Later, the Presidency Banks\u2014Bank of Bengal (1806), Bank of Bombay (1840), and Bank of Madras (1843)\u2014laid the foundation for banking operations in India. However, these banks mainly served British interests rather than Indian citizens.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-post-independence-period-1947-1969\"><span id=\"post-independence-period-1947-1969\">Post-Independence Period (1947-1969)<\/span><\/h3>\n\n\n\n<p>After independence, India&#8217;s banking sector was dominated by private banks catering to industrialists and urban customers. Rural and small-scale industries faced financial exclusion, creating a need for banking reforms to ensure financial inclusion in India.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-era-of-bank-nationalisation-1969-amp-1980\"><span id=\"era-of-bank-nationalisation-1969-1980\">Era of Bank Nationalisation (1969 &amp; 1980)<\/span><\/h3>\n\n\n\n<p>To address economic disparity and ensure equitable distribution of financial resources, the Government of India nationalised banks in two phases.<\/p>\n\n\n\n<p><strong>First Phase of Nationalisation (1969)<\/strong><\/p>\n\n\n\n<p>On July 19, 1969, the Indian government nationalised 14 major commercial banks that controlled over 85% of the country\u2019s total bank deposits. The list of nationalised banks in India during this phase includes:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Allahabad Bank<\/li>\n\n\n\n<li>Bank of Baroda<\/li>\n\n\n\n<li>Bank of India<\/li>\n\n\n\n<li>Bank of Maharashtra<\/li>\n\n\n\n<li>Canara Bank<\/li>\n\n\n\n<li>Central Bank of India<\/li>\n\n\n\n<li>Dena Bank<\/li>\n\n\n\n<li>Indian Bank<\/li>\n\n\n\n<li>Indian Overseas Bank<\/li>\n\n\n\n<li>Punjab National Bank<\/li>\n\n\n\n<li>Syndicate Bank<\/li>\n\n\n\n<li>UCO Bank<\/li>\n\n\n\n<li>Union Bank of India<\/li>\n\n\n\n<li>United Bank of India<\/li>\n<\/ul>\n\n\n\n<p><strong>Second Phase of Nationalisation (1980)<\/strong><\/p>\n\n\n\n<p>On April 15, 1980, six more banks were nationalised to further strengthen public sector banking in India. These banks included:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Andhra Bank<\/li>\n\n\n\n<li>Corporation Bank<\/li>\n\n\n\n<li>New Bank of India<\/li>\n\n\n\n<li>Oriental Bank of Commerce<\/li>\n\n\n\n<li>Punjab &amp; Sind Bank<\/li>\n\n\n\n<li>Vijaya Bank<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-list-of-nationalised-banks-in-india\"><span id=\"list-of-nationalised-banks-in-india\">List of Nationalised Banks in India<\/span><\/h2>\n\n\n\n<p>The table below provides a list of nationalised banks in India, highlighting those that remain active and those that have merged with other institutions. This consolidation has played a crucial role in streamlining the banking landscape in India while ensuring better financial stability and customer service.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Nationalised Banks Name<\/strong><\/td><td><strong>Status<\/strong><\/td><\/tr><tr><td><strong>Allahabad Bank<\/strong><\/td><td>Merged with <strong>Indian Bank<\/strong> (2020)<\/td><\/tr><tr><td><strong>Bank of India (BoI)<\/strong><\/td><td>Active<\/td><\/tr><tr><td><strong>Bank of Baroda (BoB)<\/strong><\/td><td>Merged with <strong>Dena Bank &amp; Vijaya Bank<\/strong> (2019)<\/td><\/tr><tr><td><strong>Canara Bank<\/strong><\/td><td>Merged with <strong>Syndicate Bank<\/strong> (2020)<\/td><\/tr><tr><td><strong>Central Bank of India<\/strong><\/td><td>Active<\/td><\/tr><tr><td><strong>Corporation Bank<\/strong><\/td><td>Merged with <strong>Union Bank of India<\/strong> (2020)<\/td><\/tr><tr><td><strong>Dena Bank<\/strong><\/td><td>Merged with <strong>Bank of Baroda<\/strong> (2019)<\/td><\/tr><tr><td><strong>Indian Bank<\/strong><\/td><td>Merged with <strong>Allahabad Bank<\/strong> (2020)<\/td><\/tr><tr><td><strong>Indian Overseas Bank (IOB)<\/strong><\/td><td>Active<\/td><\/tr><tr><td><strong>Punjab National Bank (PNB)<\/strong><\/td><td>Merged with <strong>Oriental Bank of Commerce &amp; United Bank of India<\/strong> (2020)<\/td><\/tr><tr><td><strong>Syndicate Bank<\/strong><\/td><td>Merged with <strong>Canara Bank<\/strong> (2020)<\/td><\/tr><tr><td><strong>UCO Bank<\/strong><\/td><td>Active<\/td><\/tr><tr><td><strong>Union Bank of India<\/strong><\/td><td>Merged with <strong>Andhra Bank &amp; Corporation Bank<\/strong> (2020)<\/td><\/tr><tr><td><strong>Vijaya Bank<\/strong><\/td><td>Merged with <strong>Bank of Baroda<\/strong> (2019)<\/td><\/tr><tr><td><strong>Andhra Bank<\/strong><\/td><td>Merged with <strong>Union Bank of India<\/strong> (2020)<\/td><\/tr><tr><td><strong>Bank of Maharashtra<\/strong><\/td><td>Active<\/td><\/tr><tr><td><strong>Eastern Bank of India<\/strong><\/td><td>Merged with <strong>Punjab National Bank<\/strong><\/td><\/tr><tr><td><strong>Punjab &amp; Sind Bank<\/strong><\/td><td>Active<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\">Must Read- <a href=\"https:\/\/fly.finance\/blog\/education-loan\/education-loan-interest-for-abroad\/\"><strong>EDUCATION LOAN INTEREST FOR DIFFERENT BANKS FOR EDUCATION ABROAD<\/strong><\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-overview-of-nationalised-banks-in-india-in-detail\"><span id=\"overview-of-nationalised-banks-in-india-in-detail\">Overview of Nationalised Banks in India in Detail<\/span><\/h2>\n\n\n\n<p>Now that you have an overview of nationalised banks in India, you can explore more details such as their headquarters, taglines, CEOs, overall revenue, and other key insights. The following table provides comprehensive information on nationalised banks, including their current status and mergers, offering a deeper understanding of the evolving Indian banking sector.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-state-bank-of-india-sbi\"><span id=\"state-bank-of-india-sbi\">State Bank Of India (SBI)<\/span><\/h3>\n\n\n\n<p>State Bank of India (SBI) is the largest nationalised bank in India, playing a pivotal role in the country\u2019s financial sector. Established in 1955, SBI has expanded significantly over the years, offering a diverse range of banking and financial services.<\/p>\n\n\n\n<p><strong>Key Highlights<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Global Ranking:<\/strong> SBI holds the 236th position in the Fortune Global 500 (2024) ranking.<\/li>\n\n\n\n<li><strong>Headquarters:<\/strong> Mumbai, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> <em>Pure Banking, Nothing Else<\/em><\/li>\n\n\n\n<li><strong>Current Chairman:<\/strong> Dinesh Kumar Khara<\/li>\n\n\n\n<li><strong>Strong Market Presence:<\/strong> With its vast branch network and digital banking services, SBI dominates India\u2019s banking landscape.<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (FY 2024-25)<\/strong><\/p>\n\n\n\n<p>SBI has shown consistent growth, backed by increased loan demand and strong revenue generation.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><thead><tr><th><strong>Financial Metric<\/strong><\/th><th><strong>Q3 FY 2024-25 (\u20b9 Billion)<\/strong><\/th><th><strong>Q2 FY 2024-25 (\u20b9 Billion)<\/strong><\/th><\/tr><\/thead><tbody><tr><td>Net Profit<\/td><td>168.91<\/td><td>183.31<\/td><\/tr><tr><td>Net Interest Income<\/td><td>414.46<\/td><td>416.20<\/td><\/tr><tr><td>Non-Interest Income<\/td><td>N\/A<\/td><td>152.7<\/td><\/tr><tr><td>Gross Loan Growth (YoY)<\/td><td>14.06%<\/td><td>14.9%<\/td><\/tr><tr><td>Deposit Growth (YoY)<\/td><td>N\/A<\/td><td>9.1%<\/td><\/tr><tr><td>Gross NPA Ratio<\/td><td>2.07%<\/td><td>2.13%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>State Bank of India continues to strengthen its leadership in India&#8217;s banking sector. With rising profits, robust loan growth, and a strong customer base, SBI remains a key driver of India&#8217;s financial ecosystem.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-punjab-national-bank-pnb\"><span id=\"punjab-national-bank-pnb\">Punjab National Bank (PNB)<\/span><\/h3>\n\n\n\n<p>Punjab National Bank (PNB) is one of the largest nationalised banks in India, with a rich legacy dating back to 1894. Serving millions of customers, PNB plays a crucial role in India\u2019s banking sector by offering a diverse range of financial services.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> New Delhi, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;The Name You Can Bank Upon&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> Ashok Chandra<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b93,252 crore, a 159% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Improved to 4.09% from 4.48% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>PNB is actively working on reducing its bad loans, aiming to recover around \u20b9170 billion in FY2025, with a major chunk expected in the final quarter.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-of-baroda-bob\"><span id=\"bank-of-baroda-bob\">Bank of Baroda (BoB)<\/span><\/h3>\n\n\n\n<p>As one of the most prominent nationalised banks in India, Bank of Baroda (BoB) has been a pillar of the financial sector since its establishment in 1908. Known for its strong domestic and international presence, BoB is committed to delivering innovative banking solutions.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Vadodara, Gujarat, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;India&#8217;s International Bank&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> Debadatta Chand<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b94,000 crore, a 5% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Reduced to 3.5% from 3.8% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>BoB is on a strategic path to double its balance sheet within five years, focusing on increasing market share and optimizing operational efficiency.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-canara-bank\"><span id=\"canara-bank\">Canara Bank<\/span><\/h3>\n\n\n\n<p>Canara Bank, one of the leading nationalised banks in India, was founded in 1906. It is widely recognized for its customer-centric approach and diverse financial offerings across the country.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Bengaluru, Karnataka, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;Together We Can&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> K. Satyanarayana Raju<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q1 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b93,534.8 crore, a 74.8% year-on-year increase<\/li>\n\n\n\n<li><strong>Net Interest Income (NII):<\/strong> \u20b98,665.7 crore, up from \u20b96,784.7 crore in the previous year<\/li>\n<\/ul>\n\n\n\n<p>Canara Bank has shown remarkable growth in profitability, with a sharp rise in net interest income and improved asset quality.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-union-bank-of-india\"><span id=\"union-bank-of-india\">Union Bank of India<\/span><\/h3>\n\n\n\n<p>Among the top nationalised banks in India, Union Bank of India has been serving customers since 1919. The bank is known for its widespread network and commitment to financial inclusion.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Mumbai, Maharashtra, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;Good People to Bank With&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> A. Manimekhalai<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b92,500 crore, a 60% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Improved to 5.1% from 5.5% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>Union Bank of India continues to strengthen its financial position with a focus on profitability and asset quality.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-of-india-boi\"><span id=\"bank-of-india-boi\">Bank of India (BoI)<\/span><\/h3>\n\n\n\n<p>Bank of India (BoI), a key player among nationalised banks in India, has been a trusted financial institution since 1906, serving both domestic and international markets.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Mumbai, Maharashtra, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;Relationship Beyond Banking&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> Rajneesh Karnatak<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b91,800 crore, a 50% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Reduced to 6.0% from 6.5% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>BoI is focused on improving asset quality and expanding its banking services.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-indian-bank\"><span id=\"indian-bank\">Indian Bank<\/span><\/h3>\n\n\n\n<p>Indian Bank, one of the fastest-growing nationalised banks in India, was established in 1907 and has consistently delivered robust financial services.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Chennai, Tamil Nadu, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;Your Own Bank&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> Shanti Lal Jain<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b91,500 crore, a 45% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Improved to 5.5% from 6.0% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>Indian Bank continues to focus on strengthening its financial performance and asset quality.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bank-of-maharashtra\"><span id=\"bank-of-maharashtra\">Bank of Maharashtra<\/span><\/h3>\n\n\n\n<p>Bank of Maharashtra, a leading nationalised bank in India, has been instrumental in the country\u2019s financial development since 1935.<\/p>\n\n\n\n<p><strong>Key Highlights:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Headquarters:<\/strong> Pune, Maharashtra, India<\/li>\n\n\n\n<li><strong>Tagline:<\/strong> &#8220;One Family One Bank&#8221;<\/li>\n\n\n\n<li><strong>Current CEO:<\/strong> A. S. Rajeev<\/li>\n<\/ul>\n\n\n\n<p><strong>Financial Performance (Q3 FY 2024-25):<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Net Profit:<\/strong> \u20b91,200 crore, a 40% year-on-year increase<\/li>\n\n\n\n<li><strong>Gross NPA Ratio:<\/strong> Reduced to 4.0% from 4.5% in the previous quarter<\/li>\n<\/ul>\n\n\n\n<p>Bank of Maharashtra is working towards expanding its services while maintaining financial stability.<\/p>\n\n\n\n<p>To know more about <a href=\"https:\/\/fly.finance\/loans\"><strong>education loans<\/strong><\/a>, the best <a href=\"https:\/\/fly.finance\/international-bank-account\"><strong>bank accounts for students<\/strong><\/a>, <a href=\"https:\/\/fly.finance\/forex\"><strong>forex<\/strong><\/a> and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.<\/p>\n\n\n\n<p>The nationalised banks in India operate as per the guidelines of the Reserve Bank of India (RBI). For any kind of banking and financial services, refer to the official websites of these banks. Check some FAQs based on nationalised banks in India below.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs-on-nationalised-banks-in-india\"><span id=\"faqs-on-nationalised-banks-in-india\">FAQs on Nationalised Banks in India<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1682325010796\"><strong class=\"schema-faq-question\">How many public sector banks are there in India?<\/strong> <p class=\"schema-faq-answer\">There are 12 Public Sector Banks in India as of 2025.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1682325019484\"><strong class=\"schema-faq-question\">How many nationalised banks are there in India?<\/strong> <p class=\"schema-faq-answer\">After the massive merger, the total number of Public Sector Banks (PSBs) in India has come down from 27 banks in 2017 to 12 in 2021.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1682325027939\"><strong class=\"schema-faq-question\">Name the 12 nationalised Banks in India.<\/strong> <p class=\"schema-faq-answer\">There are currently 12 nationalised banks operating in India.  They are the State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1727962216930\"><strong class=\"schema-faq-question\">Which is the largest public sector bank in India?<\/strong> <p class=\"schema-faq-answer\">SBI or the State Bank of India is the largest public sector bank in India. It has over <strong>22,542<\/strong> branches (as of October 2024) and one of the largest network of ATMs.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1727962518852\"><strong class=\"schema-faq-question\">Which public sector bank in India is best for education loans?<\/strong> <p class=\"schema-faq-answer\">Among many banks, SBI, Bank of Baroda and Union Bank are some of the best banks for education loans with interest rates ranging between 8.05% p.a. to 11.75% p.a.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732964292652\"><strong class=\"schema-faq-question\"><strong><strong>When were nationalised banks in India created?<\/strong><\/strong><\/strong> <p class=\"schema-faq-answer\">Nationalised banks in India were established through two phases: in <strong>1969<\/strong> when 14 major banks were nationalised, and in <strong>1980<\/strong> when 6 more banks were added.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732964310995\"><strong class=\"schema-faq-question\"><strong>What is the purpose of nationalizing banks in India?<\/strong><\/strong> <p class=\"schema-faq-answer\">Nationalization aimed to increase government control over the banking sector, promote financial inclusion, and ensure equitable distribution of credit to various sectors of the economy.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732964326011\"><strong class=\"schema-faq-question\"><strong>How many mergers have nationalised banks undergone in recent years?<\/strong><\/strong> <p class=\"schema-faq-answer\">Several mergers took place in recent years, such as 2019 mergers of Dena Bank, Vijaya Bank, and Bank of Baroda, and 2020 mergers of Corporation Bank, Andhra Bank with Union Bank of India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732964331972\"><strong class=\"schema-faq-question\"><strong>Which is the smallest nationalised bank in India?<\/strong><\/strong> <p class=\"schema-faq-answer\"><strong>Punjab &amp; Sind Bank<\/strong> is considered one of the smaller nationalised banks in India by total business size and branch network compared to other larger banks like SBI and PNB.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1732964346549\"><strong class=\"schema-faq-question\"><strong>Do nationalised banks offer digital banking services?<\/strong><\/strong> <p class=\"schema-faq-answer\">Yes, all nationalised banks, including <strong>SBI<\/strong>, <strong>Bank of Baroda<\/strong>, and <strong>Union Bank<\/strong>, offer digital banking services like mobile apps, UPI, and internet banking for customer convenience.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837355611\"><strong class=\"schema-faq-question\">What are nationalised banks in India?<\/strong> <p class=\"schema-faq-answer\">Nationalised banks in India are financial institutions that were privately owned but later taken over by the Indian government through the process of nationalization.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837356804\"><strong class=\"schema-faq-question\">When were banks nationalized in India?<\/strong> <p class=\"schema-faq-answer\">Banks in India were nationalized in two phases: first in 1969 (14 banks) and then in 1980 (6 banks).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837359509\"><strong class=\"schema-faq-question\">Why were banks nationalized in India?<\/strong> <p class=\"schema-faq-answer\">The primary reason was to ensure financial inclusion, equitable distribution of resources, and economic stability by extending banking services to rural and underprivileged areas.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837484241\"><strong class=\"schema-faq-question\">Which was the first bank to be nationalised in India?<\/strong> <p class=\"schema-faq-answer\">The first major wave of nationalization included Allahabad Bank, Bank of Baroda, Punjab National Bank, and others in 1969.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837503639\"><strong class=\"schema-faq-question\">What is the difference between public sector banks and nationalized banks?<\/strong> <p class=\"schema-faq-answer\">Nationalized banks are former private banks taken over by the government, while public sector banks (PSBs) include both nationalized banks and banks originally established by the government (e.g., SBI).<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837512027\"><strong class=\"schema-faq-question\">Which is the largest nationalized bank in India?<\/strong> <p class=\"schema-faq-answer\">State Bank of India (SBI) is the largest nationalized bank, ranked among the Fortune Global 500 companies.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837535384\"><strong class=\"schema-faq-question\">What are the benefits of nationalised banks?<\/strong> <p class=\"schema-faq-answer\">They offer greater financial security, government backing, lower risks, wide reach, and regulated interest rates compared to private banks.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837575535\"><strong class=\"schema-faq-question\">Which nationalised banks have merged in India?<\/strong> <p class=\"schema-faq-answer\">Several banks have merged, such as PNB with Oriental Bank of Commerce &amp; United Bank of India, Canara Bank with Syndicate Bank, and Bank of Baroda with Vijaya Bank &amp; Dena Bank.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1740837583065\"><strong class=\"schema-faq-question\">Are nationalised banks better than private banks?<\/strong> <p class=\"schema-faq-answer\">Nationalised banks offer higher stability and security, whereas private banks may provide better customer service and faster innovation. The choice depends on individual banking needs.<\/p> <\/div> <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Nationalised banks in India refer to commercial banks that have been taken over or owned by the government. These banks in India play a crucial role in the country\u2019s economic development, financial inclusion, and banking sector reforms. Since the nationalisation of banks in India has witnessed a transformation in its banking infrastructure, ensuring access to &#8230; <a title=\"What Are The Nationalised Banks in India?\" class=\"read-more\" href=\"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/\" aria-label=\"Read more about What Are The Nationalised Banks in India?\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":16265,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[],"class_list":["post-3625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-student-account"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Are The Nationalised Banks in India?<\/title>\n<meta name=\"description\" content=\"Nationalised Banks in India: Discover everything about Nationalised Banks in India, their history, list, mergers, and significance. 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Finance"},"sameAs":["https:\/\/fly.finance\/blog"],"url":"https:\/\/fly.finance\/blog\/author\/leverageedu\/"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325010796","position":1,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325010796","name":"How many public sector banks are there in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"There are 12 Public Sector Banks in India as of 2025.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325019484","position":2,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325019484","name":"How many nationalised banks are there in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"After the massive merger, the total number of Public Sector Banks (PSBs) in India has come down from 27 banks in 2017 to 12 in 2021.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325027939","position":3,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1682325027939","name":"Name the 12 nationalised Banks in India.","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"There are currently 12 nationalised banks operating in India.  They are the State Bank of India, Punjab National Bank, Bank of Baroda, Bank of India, Central Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Punjab and Sind Bank, Indian Bank, UCO Bank, and Bank of Maharashtra.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1727962216930","position":4,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1727962216930","name":"Which is the largest public sector bank in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"SBI or the State Bank of India is the largest public sector bank in India. It has over <strong>22,542<\/strong> branches (as of October 2024) and one of the largest network of ATMs.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1727962518852","position":5,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1727962518852","name":"Which public sector bank in India is best for education loans?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Among many banks, SBI, Bank of Baroda and Union Bank are some of the best banks for education loans with interest rates ranging between 8.05% p.a. to 11.75% p.a.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964292652","position":6,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964292652","name":"When were nationalised banks in India created?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Nationalised banks in India were established through two phases: in <strong>1969<\/strong> when 14 major banks were nationalised, and in <strong>1980<\/strong> when 6 more banks were added.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964310995","position":7,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964310995","name":"What is the purpose of nationalizing banks in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Nationalization aimed to increase government control over the banking sector, promote financial inclusion, and ensure equitable distribution of credit to various sectors of the economy.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964326011","position":8,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964326011","name":"How many mergers have nationalised banks undergone in recent years?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Several mergers took place in recent years, such as 2019 mergers of Dena Bank, Vijaya Bank, and Bank of Baroda, and 2020 mergers of Corporation Bank, Andhra Bank with Union Bank of India.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964331972","position":9,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964331972","name":"Which is the smallest nationalised bank in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"<strong>Punjab &amp; Sind Bank<\/strong> is considered one of the smaller nationalised banks in India by total business size and branch network compared to other larger banks like SBI and PNB.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964346549","position":10,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1732964346549","name":"Do nationalised banks offer digital banking services?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, all nationalised banks, including <strong>SBI<\/strong>, <strong>Bank of Baroda<\/strong>, and <strong>Union Bank<\/strong>, offer digital banking services like mobile apps, UPI, and internet banking for customer convenience.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837355611","position":11,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837355611","name":"What are nationalised banks in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Nationalised banks in India are financial institutions that were privately owned but later taken over by the Indian government through the process of nationalization.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837356804","position":12,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837356804","name":"When were banks nationalized in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Banks in India were nationalized in two phases: first in 1969 (14 banks) and then in 1980 (6 banks).","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837359509","position":13,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837359509","name":"Why were banks nationalized in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The primary reason was to ensure financial inclusion, equitable distribution of resources, and economic stability by extending banking services to rural and underprivileged areas.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837484241","position":14,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837484241","name":"Which was the first bank to be nationalised in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"The first major wave of nationalization included Allahabad Bank, Bank of Baroda, Punjab National Bank, and others in 1969.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837503639","position":15,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837503639","name":"What is the difference between public sector banks and nationalized banks?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Nationalized banks are former private banks taken over by the government, while public sector banks (PSBs) include both nationalized banks and banks originally established by the government (e.g., SBI).","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837512027","position":16,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837512027","name":"Which is the largest nationalized bank in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"State Bank of India (SBI) is the largest nationalized bank, ranked among the Fortune Global 500 companies.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837535384","position":17,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837535384","name":"What are the benefits of nationalised banks?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"They offer greater financial security, government backing, lower risks, wide reach, and regulated interest rates compared to private banks.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837575535","position":18,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837575535","name":"Which nationalised banks have merged in India?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Several banks have merged, such as PNB with Oriental Bank of Commerce &amp; United Bank of India, Canara Bank with Syndicate Bank, and Bank of Baroda with Vijaya Bank &amp; Dena Bank.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837583065","position":19,"url":"https:\/\/fly.finance\/blog\/student-account\/list-of-nationalised-banks-in-india\/#faq-question-1740837583065","name":"Are nationalised banks better than private banks?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Nationalised banks offer higher stability and security, whereas private banks may provide better customer service and faster innovation. 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