Public sector banks in India - Revision history

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	{{Use Indian English\|date=October 2020}}		{{Use Indian English\|date=October 2020}}

	'''Public Sector Banks''' (PSBs) are a major type of [[banking in India\|government owned banks]] in India, where a majority stake (i.e. more than 50%) is held by the [[Ministry of Finance (India)\|Ministry of Finance]] of the [[Government of India]] or [[State governments of India\|State Ministry of Finance]] of various [[State governments of India\|State Governments of India]]. The officers working for these entities and their subsidiaries are [[Gazetted Officer (India)\|gazetted officers]]. The employees subordinate to the officers working for these respective entities and their subsidiaries are also full fledged [[government\|government employees]]. The shares of these banks are listed on stock exchanges.		'''Public Sector Banks''' (PSBs) are a major type of [[banking in India\|government owned banks]] in India, where a majority stake (i.e. more than 50%) is held by the [[Ministry of Finance (India)\|Ministry of Finance]] of the [[Government of India]] or [[State governments of India\|State Ministry of Finance]] of various [[State governments of India\|State Governments of India]]. . The shares of these banks are listed on stock exchanges. Their main objective is social welfare

	==History==		==History==
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	[[Vijaya Bank]] and [[Dena Bank]] were merged into Bank of Baroda in 2018.<ref>{{citation \|title=10 public sector banks to be merged into four \|url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html \|work=[[Live Mint]] \|date=30 August 2019 }}</ref> [[IDBI Bank]] was categorised as a private bank with effect from January 2019.<ref>{{Cite web\|date=2019-03-14\|title=RBI categorises IDBI Bank as private sector lender\|url=https://www.livemint.com/industry/banking/rbi-categorises-idbi-bank-as-private-sector-lender-1552566998467.html\|access-date=2021-07-24\|website=mint\|language=en}}</ref>		[[Vijaya Bank]] and [[Dena Bank]] were merged into Bank of Baroda in 2018.<ref>{{citation \|title=10 public sector banks to be merged into four \|url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html \|work=[[Live Mint]] \|date=30 August 2019 }}</ref> [[IDBI Bank]] was categorised as a private bank with effect from January 2019.<ref>{{Cite web\|date=2019-03-14\|title=RBI categorises IDBI Bank as private sector lender\|url=https://www.livemint.com/industry/banking/rbi-categorises-idbi-bank-as-private-sector-lender-1552566998467.html\|access-date=2021-07-24\|website=mint\|language=en}}</ref>

	On 30 August 2019, Finance Minister [[Nirmala Sitharaman]] announced the government's plan for further consolidation of public sector banks: [[Indian Bank]]'s merger with [[Allahabad Bank]] (anchor bank - [[Indian Bank]]); [[Punjab National Bank]]'s merger with [[Oriental Bank of Commerce]] and [[United Bank of India\|United Bank]] (anchor bank - [[Punjab National Bank]]); [[Union Bank of India]]'s merger with [[Andhra Bank]] and [[Corporation Bank]] (anchor bank - [[Union Bank of India]]); and [[Canara Bank]]'s merger with [[Syndicate Bank]] (anchor bank - [[Canara Bank]]).<ref>{{Cite web\|~~last~~=Writer~~\|first=Staff~~\|date=2019-08-30\|title=10 public sector banks to be merged into four\|url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html\|access-date=2021-07-24\|website=mint\|language=en}}</ref> The mergers took effect from 1 April 2020.		On 30 August 2019, Finance Minister [[Nirmala Sitharaman]] announced the government's plan for further consolidation of public sector banks: [[Indian Bank]]'s merger with [[Allahabad Bank]] (anchor bank - [[Indian Bank]]); [[Punjab National Bank]]'s merger with [[Oriental Bank of Commerce]] and [[United Bank of India\|United Bank]] (anchor bank - [[Punjab National Bank]]); [[Union Bank of India]]'s merger with [[Andhra Bank]] and [[Corporation Bank]] (anchor bank - [[Union Bank of India]]); and [[Canara Bank]]'s merger with [[Syndicate Bank]] (anchor bank - [[Canara Bank]]).<ref>{{Cite web\|author=Staff Writer\|date=2019-08-30\|title=10 public sector banks to be merged into four\|url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html\|access-date=2021-07-24\|website=mint\|language=en}}</ref> The mergers took effect from 1 April 2020.

	==Central Public Sector Units (Banks)==		==Central Public Sector Units (Banks)==

	; '''~~Nationalised~~ Banks (Government Shareholding %, as of 30 June 2021)'''		; '''Nationalized Banks (Government Shareholding %, as of 30 June 2021)'''

	# [[State Bank of India]] (57.6%)		# [[State Bank of India]] (57.6%)
	# [[~~Punjab National~~ Bank]] (73.1%)		# [[Bank of Baroda]] (63.97%)
	# [[Canara Bank]] (69.33%)		# [[Canara Bank]] (62.93%)
	# [[Bank ~~of Baroda~~]] (64%)		# [[Punjab National Bank]] (73.15%)
	# [[~~Union~~ Bank ~~of India~~]] (83.5%)		# [[Indian Bank]] (79.86%)
	# [[~~Indian~~ Bank]] (78.86%)		# [[Union Bank of India]] (83.49%)
	# [[Bank of India]] (90.34%)		# [[Bank of India]] (81.41%)
	# [[Central Bank of India]] (93.08%)		# [[Central Bank of India]] (93.08%)
	# [[~~Indian Overseas~~ Bank]] (96.4%)		# [[Bank of Maharashtra]] (90.97%)
	# [[UCO Bank]] (95.39%)		# [[UCO Bank]] (95.39%)
	# [[Bank ~~of Maharashtra~~]] (93.33%)		# [[Indian Overseas Bank]] (96.38%)
	# [[Punjab and Sind Bank]] (97.07%)		# [[Punjab and Sind Bank]] (97.07%)
	~~# [[Jammu and Kashmir Bank]] (68.18%)~~

	'''Presently there are 43 Regional Rural Banks in India Since 1 April 2020 '''<ref>{{cite web\|url=https://m.rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3657\|title=list of SCB}}</ref>		'''Presently there are 43 Regional Rural Banks in India Since 1 April 2020 '''<ref>{{cite web\|url=https://m.rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3657\|title=list of SCB}}</ref>
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	'''Tamil Nadu'''		'''Tamil Nadu'''
	*[[Tamil Nadu Grama Bank]]		*[[Tamil Nadu Grama Bank]]



	'''Telangana'''		'''Telangana'''
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	== See also ==		== See also ==
	*[[List of banks in India]]		*[[List of banks in India]]
			*[[Banking Frontiers]] magazine

	==References==		==References==

2409:4065:E08:8C49:F53D:E6F1:6719:5A34 at 01:21, 1 September 2021

2021-09-01T01:21:05Z

New page

{{short description|List of all government-owned banks in India}}
{{More citations needed|date=July 2021}}
{{Use dmy dates|date=October 2020}}
{{Use Indian English|date=October 2020}}

'''Public Sector Banks''' (PSBs) are a major type of [[banking in India|government owned banks]] in India, where a majority stake (i.e. more than 50%) is held by the [[Ministry of Finance (India)|Ministry of Finance]] of the [[Government of India]] or [[State governments of India|State Ministry of Finance]] of various [[State governments of India|State Governments of India]]. The officers working for these entities and their subsidiaries are [[Gazetted Officer (India)|gazetted officers]]. The employees subordinate to the officers working for these respective entities and their subsidiaries are also full fledged [[government|government employees]]. The shares of these banks are listed on stock exchanges.

==History==

===Emergence of public sector banks===
The Central Government entered the banking business with the nationalization of the [[Imperial Bank of India]] in 1955. A 60% stake was taken by the [[Reserve Bank of India]] and the new bank was named [[State Bank of India]]. The seven other state banks became subsidiaries of the new bank in 1959 when the ''[https://sbi.co.in/documents/17826/21606/Subsidiary+Bank+Act%2C%20Regulations+%26+SBH+Act_Updated+June_2014.pdf State Bank of India (Subsidiary Banks) Act, 1959]'' was passed by the [[Third Nehru ministry|Union government]].<ref>{{cite web | title = Nationalisation of Banks in India | work = India Finance and Investment Guide | publisher = Indiamart | url = http://finance.indiamart.com/investment_in_india/nationalisation_banks.html |archive-url=https://web.archive.org/web/20140103020019/http://finance.indiamart.com/investment_in_india/nationalisation_banks.html | archive-date=3 January 2014 | access-date = 29 March 2016 }}</ref>

The next major government intervention in banking took place on 19 July 1969 when the [[Premiership of Indira Gandhi|Indira]] government nationalised an additional 14 major banks. The total deposits in the banks nationalised in 1969 amounted to 50 crores. This move increased the presence of nationalised banks in India, with 84% of the total branches coming under government control.<ref>{{cite journal | last1 = Banerjee | first1 = Abhijit V. | last2 = Cole | first2 = Shawn | last3 = Duflo | first3 = Esther | author-link1 = Abhijit Banerjee | year = 2004 | title = Banking Reform in India | journal = India Policy Forum | issue = 1 | url = http://econ-www.mit.edu/files/779 | access-date = 31 October 2011 }}</ref>

===Before the economic liberalisation===
The share of the banking sector held by the public banks continued to grow through the 1980s, and by 1991 public sector banks accounted for 90% of the banking sector. A year later, in March, 1992, the combined total of branches held by public sector banks was 60,646 across India, and deposits accounted for ₹1,10,000 crore. The majority of these banks was profitable, with only one out of the 21 public sector banks reporting a loss.<ref name="chapter3RBI">{{cite web | title=Chapter 3: Public sector banks: an overview and identification of weak banks |date=October 4, 1999 |url=http://www.rbi.org.in/Scripts/PublicationReportDetails.aspx?UrlPage=&ID=60 |access-date=October 31, 2011 }}</ref>

===Liberalisation in the 2000s===
The nationalised banks reported a combined loss of ₹1160 crores. However, the early 2000s saw a reversal of this trend, such that in 2002-03 a profit of ₹7780 crores by the public sector banks: a trend that continued throughout the decade, with a ₹16856 crore profit in 2008–2009.<ref name="chapter3RBI" />

===Mergers===
The consolidation of SBI-associated banks started first by State Bank of India merging its subsidiary [[State Bank of Saurashtra]] with itself on 13 August 2008.<ref>{{citation |title=State Bank of Saurashtra to be merged with SBI |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/state-bank-of-saurashtra-to-be-merged-with-sbi/articleshow/2310997.cms?from=mdr |work=[[The Economic Times]] |date=26 August 2007 |last1 = Ray|first1 = Atmadip|last2 = Mehta|first2 = Sangita}}</ref> Thereafter it merged [[State Bank of Indore]] with itself on August 27, 2010.<ref>{{citation |title=State Bank of Indore merger with SBI to begin by Aug 26
|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/state-bank-of-indore-merger-with-sbi-to-begin-by-aug-26/articleshow/6229264.cms?from=mdr |work=[[The Economic Times]] |date=28 July 2010 }}</ref> The remaining subsidiaries, namely the [[State Bank of Bikaner & Jaipur]], [[State Bank of Hyderabad]], [[State Bank of Mysore]], [[State Bank of Patiala]] and [[State Bank of Travancore]], and [[Bharatiya Mahila Bank]] were merged with State Bank of India with effect from 1 April 2017.

[[Vijaya Bank]] and [[Dena Bank]] were merged into Bank of Baroda in 2018.<ref>{{citation |title=10 public sector banks to be merged into four |url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html |work=[[Live Mint]] |date=30 August 2019 }}</ref> [[IDBI Bank]] was categorised as a private bank with effect from January 2019.<ref>{{Cite web|date=2019-03-14|title=RBI categorises IDBI Bank as private sector lender|url=https://www.livemint.com/industry/banking/rbi-categorises-idbi-bank-as-private-sector-lender-1552566998467.html|access-date=2021-07-24|website=mint|language=en}}</ref>

On 30 August 2019, Finance Minister [[Nirmala Sitharaman]] announced the government's plan for further consolidation of public sector banks: [[Indian Bank]]'s merger with [[Allahabad Bank]] (anchor bank - [[Indian Bank]]); [[Punjab National Bank]]'s merger with [[Oriental Bank of Commerce]] and [[United Bank of India|United Bank]] (anchor bank - [[Punjab National Bank]]); [[Union Bank of India]]'s merger with [[Andhra Bank]] and [[Corporation Bank]] (anchor bank - [[Union Bank of India]]); and [[Canara Bank]]'s merger with [[Syndicate Bank]] (anchor bank - [[Canara Bank]]).<ref>{{Cite web|last=Writer|first=Staff|date=2019-08-30|title=10 public sector banks to be merged into four|url=https://www.livemint.com/news/india/pnb-obc-and-united-bank-to-be-merged-nirmala-sitharaman-1567158678718.html|access-date=2021-07-24|website=mint|language=en}}</ref> The mergers took effect from 1 April 2020.

==Central Public Sector Units (Banks)==

; '''Nationalised Banks (Government Shareholding %, as of 30 June 2021)'''

# [[State Bank of India]] (57.6%)
# [[Punjab National Bank]] (73.1%)
# [[Canara Bank]] (69.33%)
# [[Bank of Baroda]] (64%)
# [[Union Bank of India]] (83.5%)
# [[Indian Bank]] (78.86%)
# [[Bank of India]] (90.34%)
# [[Central Bank of India]] (93.08%)
# [[Indian Overseas Bank]] (96.4%)
# [[UCO Bank]] (95.39%)
# [[Bank of Maharashtra]] (93.33%)
# [[Punjab and Sind Bank]] (97.07%)
# [[Jammu and Kashmir Bank]] (68.18%)

'''Presently there are 43 Regional Rural Banks in India Since 1 April 2020 '''<ref>{{cite web|url=https://m.rbi.org.in/scripts/Bs_viewcontent.aspx?Id=3657|title=list of SCB}}</ref>
{{Div col|colwidth=20em}}

'''Andhra Pradesh'''

*[[Andhra Pragathi Grameena Bank]]<ref name="thehindu.com">{{cite news|url=https://www.thehindu.com/news/cities/Hyderabad/rural-banks-to-be-merged-in-ts-ap/article27084736.ece|title=Rural banks to be merged in TS, AP|newspaper=The Hindu|date=10 May 2019|last1=Kumar|first1=N. Ravi}}</ref>
*Chaitanya Godavari Gramin Bank
*Saptagiri Gramin Bank

'''Arunachal Pradesh'''
*Arunachal Pradesh Rural Bank

'''Assam'''
*[[Assam Gramin Vikash Bank]]

'''Bihar'''
*[[Bihar Gramin Bank| 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]]<ref name="thehindu.com"/>

'''Tripura'''
*[[Tripura Gramin Bank]]

'''Uttar Pradesh'''
*[[Gramin Bank of Aryavart|Aryavart
Bank]]
*[[Sarva UP Gramin Bank|Prathama UP
Gramin Bank]]
*Baroda UP Bank<ref>{{cite web|url=https://www.jagran.com/uttar-pradesh/gorakhpur-city-merger-of-banks-three-banks-of-the-united-up-now-known-by-this-name-19793672.html|title=दैनिक जागरण: बैंकों का विलय : एक हुए UP के तीन बैंक, अब बड़ौदा यूपी बैंक नाम से जाने जाएंगे}}</ref>
'''Uttarakhand'''
*[[Uttarakhand Gramin Bank]]

'''West Bengal'''
*[[Paschim Banga Gramin Bank]]
*[[Bangiya Gramin Vikash Bank]]
* Uttarbanga Kshetriya Gramin Bank
{{div col end}}

== See also ==
*[[List of banks in India]]

==References==
{{Reflist}}

==External links==
* [https://www.rbi.org.in/scripts/banklinks.aspx WEBSITES OF BANKS IN INDIA (rbi.org.in)]
* [https://bankqna.com/what-are-the-different-types-of-banks-in-india/ What are the different types of banks in India]

{{Banking in India}}

[[Category:Public Sector Banks in India|*]]
[[Category:Lists of banks in India]]
[[Category:Public sector in India|Banks]]
[[Category:India government-related lists]]