Top 10 Government Banks In India | Government Bank List

By Minky Chawla on July 11, 2021

Top 10 Government Banks In India: State Bank of India is the number 1 best government bank in India that is headquartered in Mumbai, India. You must have a bank account in today’s environment if you have money. Likewise, the chances of persons who have no bank account are really limited following the Pradhan Mantri Jan Dhan Yojana, the government of India’s financial inclusion program. Banking in India can be engraved back to Ancient India where the Vedas Text has a mention of a system that is very similar to the bank which is called money lending.

Top 10 Government Banks In India

In the modern era, banking started in the civilized period with the establishment of the Bank of Hindustan which was established in1770. The Government Bank is a bank that Government owns it or it is the major shareholder of more than 51% of the bank. It can be both Central and State-owned government banks. But are you aware of India’s best public sector banks or India’s top banks? Otherwise, don’t worry, since we’ll inform you in-depth about the top 10 government and private banks in India and their banking products.

No 1. State Bank of India

State Bank of India is the most significant and the largest bank in India. SBI is ranked as the 236^{th rank}in the Fortune Global of the 500 lists. It is ranked no. 1 in Public sector Banks. The bank was found in the year 1955.

Headquarters: In Mumbai, India
Toll Free: Phone no: 1800 11 2211, 1800 425 3800, 080-26599990
Official Website: www.sbi.co.in
Branches: 22000+branches
Revenue: Is Rs.2.79644 trillion = ($40 billion)
CapitalRatio: Is15.90%

No 2. Punjab National Bank

Punjab National Bank is the second-largest government bank. PNB banking and financial services are owned by the Government of India. The bank had been established in the year 1894. PNB bank has merged with OBC and United Bank. This bank becomes the second largest Public Sector Bank of India with 18 Lakh crore rupees and in terms of the branch network across the country.

Headquarters: In New Delhi, India
Toll Free: Phone no :1800 180 2222, 1800 103 2222
E-mail ID: [email protected]
Official Website: www.pnbindia.in
Branches: 7000+branches
Revenue:589,887 crore = ($85 billion)
Capital Ratio: Is 11.28%

No 3. Bank of Baroda

Bank of Baroda is a multinational Indian bank. It is in the top order of the largest public sector bank of India which is founded in the year 1908. Bank of Baroda got merged with Vijaya Bank and Dena Bank to create the country’s third-largest lender with the combined business of Rs. 14.82 lakh crore.

Headquarters: Is in Gujarat, India
Toll Free: Phone no :1800 258 44 55, 1800 102 44 55
Official Website: www.bankofbaroda.com
Branches: 9500 +
Revenue: Rs.50,305 crore = ($7.3 billion)
Capital Ratio: Is 12.13%

No 4. Canara Bank

Canara Bank is one of the very oldest public sector banks in India. The bank was found in 1906 by its name Canara Hindu Permanent Fund, but later it had changed its name to Canara Bank Limited in the year 1910. Canara Bank will have to merge with Syndicate Bank to become the most important bank as the fourth largest Public Sector Bank of the country. The total business will lead to Rs.15.2 lakh crore. It will also become the third-largest branch with the network of India.

Headquarters: In Bangalore, India
Toll-Free: Phone no:1800 425 0018
Official Website: www.canarabank.com
Branches: 6300+branches
Revenue: 54,269 crore ($7.9 billion)
Capital Ratio: Is 12.86%

No 5. Union Bank of India

Union Bank of India is one of the major public sector banks in India. The government holds about 90% of its share capital. The bank was found in the year 1919. In 1969, in an attempt to examine the country’s economic status, the Government of India nationalized the Union Bank of India. The bank is one of the country’s largest public sector banks.

Headquarters: In Mumbai, India
Toll Free: Phone no : 1800 22 22 44, 1800 208 2244
Official Website: unionbankofindia.co.in
Branches: 9600+branches
Revenue: Is Rs.32,198.80 crore = ($4.7 billion)
Capital Ratio: Is10.56%

No 6. Bank of India

Bank of India is the founder of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications) and one of the most significant banks in India. Founded in 1906, since 1969 it has been held by the government. As of 31 March 2019, the Bank of India has 5,316 branches, with five subsidiaries, five offices, and one joint venture, including 56 branches abroad.

Headquarters: In Mumbai, India
Toll free:Phone no : 1800 220 229, 1800 103 1906
E-mail ID: [email protected]
Official Website: www.bankofindia.co.in
Branches: 5300+branches
Revenue:462.68 billion ($6.7 Billion)
Capital Ratio: Is 12.01%

No 7. Indian Bank

This Bank was established as Indian Bank Limited on 5 March 1907, and in 1882 it has begun its operations on 15 August 1907 under the Indian Companies Act 1995 – The Indian Bank Management Academy for Growth and Excellence (IMAGE) has founded the Bank’s own training facility. From 1907- 1932, Indian Bank has its overseas branches in Colombo and Singapore.

Headquarters: In Chennai, India
Toll Free: Phone no : 1800 425 00 000, 1800 425 4422
Official Website: www.indianbank.in
Branches: 2900branches
Revenues:21,689.67 crore =($3.1 billion)
Capital Ratio: Is 13.20%

No 8. Central Bank of India

Central Bank of India was one of the eighteenth public sector banks which has got recapitalized in the year 2009. The CBI is an Indian government-owned bank or Indian Central Bank. It covers all 28 countries, seven of eight Union territories, and 574 district heads, including all Indian countries. Founded in 1911, by Sir Sorabji Pochkhanawala the Central Bank of India is the first totally owned and controlled Indian commercial bank. The bank was founded to fulfill the desire of the bank’s founder.

Headquarters: In Mumbai, India
Toll-Free: Phone no: 1800 22 1911
E-mail ID: [email protected]
Official Website: wwwcentralbankofindia.co.in
Branches: 4600+branches
Revenue: Is Rs.2,526.68 crore = ($370 million)
Capital Ratio: Is 46%

No 9. Indian Overseas Bank

The Indian Overseas Bank (IOB), with twin purposes of foreign exchange and overseas banking, was established in February 1937. It began in Karaikudi and Chennai, India, and Rangoon, Burma with three branches (presently Myanmar ). It has over 3,400 domestic branches, roughly 6 foreign subsidiaries, and a representative office in India, and is owned by the Ministry of Finance and the government of India.

Headquarters: In Chennai, India
Toll-Free: Phone no: 18004254445
Official Website: www.iob.in
Branches: 3400 branches
Revenue:23,517.29 crore ($3.4 billion)
Capital Ratio: Is 9.66%

No 10. UCO Bank

Among the Top 10 Government Banks In India, UCO Bank is the leading government and the major government commercial bank-owned bank and formerly United Commercial Bank founded in Kolkata, 1943. The government of India is owned by the Ministry of Finance. Mr. G.D Birla, the doyen of the Indian Industrial Renaissance, was originally thinking about the idea of a true Indian bank following the historical “Quit India” movement of 1942.

Headquarters: In Kolkata, India
Toll-Free: Phone no:1800 274 0123
E-mail ID: [email protected]
Official Website: www.ucobank.com
Branches: 4000+branches
Revenue:Is Rs.18,560.97 crore = ($2.7 billion)
Capital Ratio: Is 9.63%