There are many government institutions operating in the banking industry. The article looks at some of those top banks operating in public sector. SBI and its associated banks fall in one category. Then there are nationalized banks, which fall in the other category.  

Major Government Firms in Banking Sector

Reserve Bank of India (RBI) – RBI is the central bank which has all the control regarding the monitory policy of Rupee and other reserves. This RBI is the regulatory authority of Indian Banking sector. The RBI has a crucial role in the development strategies of the government as well. The RBI is also a member of the Asian Clearing Union.

State Bank of India (SBI) - The State Bank of India is one of the most affluent banks in the public sector. The main aim of this bank is to give financial aid to people from all segments of the economy.

State Bank of India has many associates like

• State Bank of Travancore
• State Bank of Patiala
• State Bank of Hyderabad
• State Bank of Mysore
• State Bank of Saurashtra and
• State Bank of Indore

List of Banking Companies in North Zone

Punjab National Bank – This bank had a very humble beginning in the year 1895.  The Punjab National Bank is known to be the first Swadeshi Bank. The bank has started its functions with only Indian capital investment. The head office of PNB is at New Delhi.

Punjab & Sind Bank – This bank was set up in the year 1908. The main aim of the bank was to uplift the poorest of poor of the region.  This principle of social commitment is what the bank endeavors even today. The Head office of Punjab & Sind Bank is at New Delhi.

List of Banking Companies in East Zone

Allahabad Bank - This is one of the oldest banks in the Public Sector. The bank offers attractive schemes to Non-Resident Indians (NRI). The head office of this establishment is in Kolkata.

United Bank of India – The United Bank of India is a bank that is owned by the State of India. The bank has 28 main offices and1453 subsidiaries all over India. The headquarters of this bank is situated in Kolkata.

UCO Bank – The UCO bank, previously acknowledged as the United Commercial Bank, was set up in the year 1943. It is accredited as one of the most paramount and oldest commercial bank of the country. The bank has its headquarters in Kolkata.

List of Banking Companies in South Zone

Andhra Bank - The Andhra Bank was started on the 20th of November 1923. It commenced its business on the 28th of November, 1923. The bank has its head office at Hyderabad.

Indian Bank- The Indian Bank was started as a part of Swadeshi movement on the 15th of August. This bank head office is situated at Chennai.

Canara Bank – This bank was conceptualized in the year 1906. It has established its functions at Mangalore, Karnataka initially. Canara bank has grown tremendously after the nationalization. The bank did a recent positioning change and has introduced new technologies.

Corporation Bank – The bank was nationalized in the year 1980.  The bank has its main office in Mangalore, Karnataka.

Syndicate Bank – The bank was set up in the year 1925 in the Udupi, Karnataka by three visionaries. The initial capital investment of the bank was Rs. 8000. The head office of this bank is at Manipal.

Vijaya Bank – The Vijaya Bank was started on the 23rd of October 1931. The goal of this bank is to encourage the habit of entrepreneurship, savings and banking between the farmers in the Dakshina Kannada district of the Karnataka state. The headquarters of this bank is located in Karnataka.

List of Banking Companies in West Zone

IDBI Bank - IDBI Bank Ltd. is India’s biggest commercial Banks. The headquarters of the Bank is in Mumbai. The IDBI bank has established different business strategy, which has driven the bank in becoming a state-of-the-art banking service provider.

Union Bank of India – The Union Bank of India is one of the largest banks that are owned by the state in the country. The bank has its international branches at both Shanghai as well as Abu Dhabi. The headquarters of this bank is located in Mumbai.

Export-Import Bank of India – This was founded with the intention of the promotion of foreign trade in our country. EXIM has its head office at Mumbai.

Dena Bank - Dena Bank was established in the year 1938. Later on it became a Public Ltd company in 1939. The bank has established its corporate office in Bandra, Mumbai.

Bank of Baroda – BoB was started in the year 1908 in a small building in Baroda. Now the bank has grown to a new hi-tech Corporation. The bank has established its center in Mumbai. The bank envisions financial prudence and corporate governance.

Central Bank of India – This bank was established in the year 1911. This has a unique distinction of being the first bank which was owned and managed by Indians. The bank’s main office is set up in Mumbai.

Bank of India - Bank of India was conceptualized in the year 1906. This bank was under the private possession until 1969. After that it got nationalized alongside with other 13 banks.

National Bank for Agriculture and Rural Development - NABARD was founded as a development Bank. The main aim of this bank is to provide financial aid as well as promote the development of small scale industries and cottage industries. The firm has its head office in Mumbai.

Indian Overseas Bank (IOB) - The Indian Overseas Bank is one amongst the popular banks in India. The bank caters to the needs of SSI, overseas exchange as well as hi-tech agriculture. This bank has two elite offices that are located at Chennai and Mumbai.

The National Federation of State Cooperative Banks Ltd. – NAFSCOB was started on the 19th of May 1964. The main aim of this bank is to supervise the functions of the State as well as Central Cooperative Banks.