Currently there are only 12 banks in number that are nationalised, named as SBI, PNB, BOB, UBI and Canara Bank. Here is the full list of currently operational nationalised banks in India by 2022.
SBI is the world’s biggest corporations of 2020, a public sector bank and the largest bank in India and also the fifth largest employer in India. State Bank of India acquired 48.2% of the shares of Yes Bank and apart from five of its associate banks, the subsidiaries includes SBI Life Insurance Company Limited, SBI Mutual Fund and SBI Cards.
Bank of Baroda or BoB is the third largest nationalised bank and one of the top 12 major banks of India with branches and offices in 24 countries. Bank of Baroda offers different type of accounts, financial goals and services.
UBI is the one of the largest bank in India by network and branches. Union Bank of India or just Union Bank, with the Andhra Bank and Corporation Bank merge making it top five largest public sector bank in the country by assets.
PNB is an Indian Public sector bank under the ownership of the Ministry of Finance and is the second largest government-owned bank in India. The Oriental Bank of Commerce and United Bank of be merged with Punjab National Bank in 2020.
Canara Bank is one of the top five largest nationalised bank in India and has offices in London, Hong Kong, Dubai and New York. The Syndicate Bank was merged with Canara Bank making it fourth largest public sector bank in the country.
The Indian nationalised bank offers range of services including savings and current account, loans and personal banking. Punjab & Sind Bank widely spread across India and has zonal offices located all over the country.
Indian Bank is one of the top performing public sector banks in India by business and after the merge of Allahabad Bank, now the seventh largest bank in the country. Indian Bank has overseas branches in Colombo and Singapore.
Bank of Maharashtra has the largest network of branches of any nationalised bank and India’s leading Public Sector Bank that offers deposits, loans, personal banking and services.
BOI was founded under private ownership 1906 and today is an Indian nationalised bank under the ownership of Ministry of Finance. Bank of India has over 5,084 branches spread over all Indian states and union territories.
CBI is based in Mumbai of Maharashtra and one of the oldest and largest nationalised commercial banks in India. Central Bank of India has a presence covering all 28 states and union territories of India.
IOB or Indian Overseas Bank is one of the major Indian nationalised bank based in Tamil Nadu and has created various milestones in Indian banking sector. Indian Overseas Bank has domestic branches across Indian cities and 6 foreign branches.
UCO Bank or United Commercial Bank has branches spread all over India and two overseas in Singapore and Hong Kong. United Commercial Bank established in Kolkata and now one of the nationalised banks in India and also ranked 80 on the Fortune India 500 list.