Nationalized Banks in India: List of nationalized banks of India, know the headquarters of nationalized banks and when they were established.

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Nationalized Banks in India | Government Banks in India | List of Nationalized Banks In India 2023: (List of Indian Banks and their Headquarters in Hindi)

List of Nationalized Banks of India 2023: Bank is a financial institution, which is authorized to receive money from its customers and provide them various types of loans. The banking system in India started developing during the British period. In banking examinations, many questions are asked from the current affairs section and many questions related to merger of banks have been seen in the recently conducted examinations. List of nationalized banks of India, name of nationalized banks, total nationalized banks etc. and other details are given below in this article.

Nationalized Banks in India:

Finance Minister of India Nirmala Sitharaman had announced the merger of some banks to reform the banking sector in India and accelerate economic growth, which has now become effective. After this massive merger, the total number of public sector banks (PSBs) in India has come down to 12 from 27 banks in 2017. Apart from this, a bank, which plays an important role in the economy of a country, has many other important functions, such as money management, currency exchange, savings account, financial services, security of money, and investment etc. Currently there are 12 public sector banks in India, for which RBI is the central authority that manages all banking operations in India. There are a lot of these for students to keep in mind and it is important to remember all these mergers as it will help in easily getting those bonus marks required for selection.

Nationalized Banks in India: List of Names, Establishments and Headquarters of Nationalized Banks of India

These are the current numbers of National Bank of India

A public sector bank is a bank which is owned by the government or in which the government is the major shareholder of more than 51%. SBI (State Bank of India) SBI Act of 1955 Under which the first nationalized bank was formed in India, here information about the total nationalized banks of India is given. RBI regulates the banking sector. The merger will help banks reduce the number of loans and NPAs as well as increase productivity, efficiency and boost the economy at a six-year low. Last year, 10 public sector banks were merged into 4 banks. Now there are a total of 12 public sector banks in the country.

National Bank of India List Latest List of Nationalized Banks in India

Public Sector Bank Headquarter Tag Line
1. Punjab National Bank (With the merger of
Oriental Bank Of Commerce and United Bank Of India)
New Delhi The Name you can Bank Upon
2. Indian Bank(With Merger of Allahabad Bank) Chennai Your Tech-friendly bank
3. State Bank of India mumbai With you all the way, Pure Banking Nothing Else, The
Nation’s banks on us
4. Canara Bank( With Merger Of Syndicate
Bangalore Together we can
5. Union Bank of India(With Merger Of Andhra Bank and Corporation Bank) mumbai Good people to bank with
6. Indian Overseas Bank Chennai Good people to grow with
7. UCO Bank Kolkata Honors Your Trust
8. Bank of Maharashtra Pune One Family One Bank
9. Punjab and Sind Bank Rajendra Place, New Delhi Where Service Is A Way Of Life
10. Bank of India mumbai Relationships beyond Banking
11. Central Bank of India mumbai Central To you Since 1911, Build A Better Life Around Us
12. Bank of Baroda Gujarat India’s International Bank

state Bank of India

SBI is the largest commercial bank in the country and has a history of 200 years. SBI is the largest bank in India in terms of assets, deposits, profits, branches, customers and employees etc. The Government of India holds more than 50% stake in SBI.

Punjab National Bank

PNB is the first indigenous bank of the country, which started its operations from Lahore on April 12, 1895 with a capital of Rs 2 lakh and working capital of Rs 20,000. PNB was established to help Indians. Now it has merged with Oriental Bank of Commerce and United Bank of India.

Indian Bank

Indian Bank was established on 15 August 1907 with the Swadeshi movement. With the merger, Allahabad Bank has a pan India presence with 2872 domestic branches, 3892 ATMs/BNAs and 3022 BCs with 9786 points of presence.

Canara Bank

Established as ‘Canara Bank Hindu Permanent Fund’ in 1906 by the philanthropist Late Shri Ammembla Subba Rao Pai, this small institution evolved into a limited company as ‘Canara Bank Limited’. Canara Bank was formed in 1910 and after nationalization in 1969. Now, Syndicate Bank has been merged into it.

Union Bank of India

The bank was established on 11 November 1919, the bank now operates more than 4200 branches across the country. The Bank’s core values ​​of prudent management without ignoring opportunities are reflected in the fact that the Bank has shown uninterrupted profits during all its 96 years of operation. In the year 2021, it was merged with Andhra Bank and Corporation Bank.

Indian Overseas Bank

The Bank was founded on 10 February 1937 by a pioneer in many fields, Mr. M. C. M. Chidambaram Chettiar. The bank was founded by him with the main objective of specializing in forex trading in banking so as to take the bank across the world

UCO Bank

Established in 1943, UCO Bank is an advertising bank and an effort of the Government of the Republic of India. Its administrators include {India | India State representative from the Republic of India. India Asian countries Asian Nations} and Depository Financial Institution of India comprises of eminent professionals like Accountants, Management Consultants, Economists, Businessmen etc.

Bank of Maharashtra

Maharashtra has been a progressive region, apart from this, banking activity in this region also started long ago. Traditionally, Mumbai Bank, established in 1840, was the primary depository financial institution in the geographical area. However, the primary depository financial institution was found in the geographical area outside the metropolis, with the Poona Bank being established in Pune in 1889, followed by the Deccan Bank in 1890 and the Mumbai Financial Organization in 1898.

Punjab and Sindh Bank

It was in the year 1908 when visionaries like Bhaijaveer Singh, Sir Sunder Majitha and Sardar Tarlochan Singh had a humble idea for the upliftment of the poorest of the poor and the Punjab and Sindh Bank was born. The Bank was established on the principle of social commitment to help the weaker section of the society in their economic efforts to raise their standard of living.

Bank of India

Bank of India was started on September 7, 1906 by a group of eminent businessmen of Bombay. By July 1969 the bank was under post-public capture and management, as it was nationalized in favor of thirteen different banks. Starting from a single workplace in Bombay, with a paid-up capital of Rs 50 thousand and fifty workers, the Bank has grown over the years and emerged into a powerful establishment with a strong national presence and large-scale international operations.

Central Bank of India

Established in 1911, the Financial Organization of India was the primary Indian bank completely controlled and managed by Indians. The institution of the Bank was the last word of Sir Sorabji Pochkhanwala’s dream, the Bank’s founder Sir Firozshah Mehta was the primary Chairman of a very ‘Swadeshi Bank’.

Bank of Baroda

Bank of Baroda is an Indian state-owned international banking and money services company headquartered in Vadodara (earlier referred to as Baroda), India. The bank was founded in the twenty Gregorian calendar month 1908 by Prince Sayajirao Gaekwad III Prince of Baroda.

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