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List of Scheduled Banks in India Research Team | Posted On Saturday, February 21,2009, 08:04 PM

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List of Scheduled Banks in India



Scheduled Commercial Banks

Scheduled commercial banks are those banks which are included in the Schedule II of RBI Act, 1934. Scheduled commercial banks carry out the normal business of banking activities such as accepting deposits, giving loans and other banking services.

What is a Scheduled Commercial Bank?

Scheduled commercial banks are those which are included in the second schedule of the RBI Act 1934 and which carry out the normal business of banking such as accepting deposits, giving out loans and other banking services. The main difference between scheduled commercial banks and scheduled corporative banks is their holding pattern as co-operatives are registered under the co-operatives society act as co-operative credit institutions. 

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List of Scheduled Banks in India

Scheduled Commercial Banks can be divided as follows:

1. Scheduled Commercial Public Sector Banks:

These are the banks where more than 50% stake is held by the government. At present there are 27 public sector banks in India including SBI and its associates along with 19 other nationalised banks and other public sector banks such as IDBI and Bhartiya Mahila Bank.

Nationalised Banks:

Listed below are the nationalised banks in India that come under the category of scheduled commercial public sector banks:

  • Allahabad bank
  • Andhra bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara bank
  • Dena bank
  • Indian bank
  • Corporation bank
  • Central bank of India
  • Oriental bank of commerce
  • Indian overseas bank
  • Punjab and Sind bank
  • UCO bank
  • United bank of India
  • Union bank
  • Vijaya bank

Other Public Sector Banks:

There are two banks that have been categorised as other public sector banks:

  • IDBI bank
  • Bhartiya Mahila Bank

Public Sector Banks (PSBs) are banks in which the government has a majority stake that is more than 50%. The shares of public sector banks are listed on stock exchanges.

As of now, India has 27 Public Sector Banks. This number includes SBI, its 5 associates and 19 other nationalized banks. Two other banks, namely IDBI and Bhartiya Mahila Bank are two banks which have been categorized by RBI as “Other Public Sector Banks”.

  • Andhra Bank
  • Allahabad Bank
  • Bank of Baroda
  • Bank of India
  • Bank of Maharashtra
  • Canara Bank
  • Central Bank of India
  • Corporation Bank
  • Dena Bank
  • Indian Overseas Bank
  • Indian Bank
  • Oriental Bank of Commerce
  • Punjab National Bank
  • Punjab and Sind Bank
  • Syndicate Bank
  • Union Bank of India
  • United Bank of India
  • UCO Bank
  • Vijaya Bank
  • SBI and its Associates:

State Bank of India (SBI) is India’s largest bank by assets. It has around 17,000 branches and around 200 foreign offices. It is the banker to millions of Indians and has over 2 Lakh employees. SBI was formed in the British Era. It is the child of three presidency banks, namely, Bank of Calcutta (which was later renamed as Bank of Bengal), Bank of Bombay and the Bank of Madras. In 1921, these three presidency banks were merged and the entity was called as the Imperial Bank of India. After about 35 years, in 1955, the Imperial Bank of India was nationalized and renamed as the State Bank of India. This makes SBI the oldest Bank in India.

In 1959, SBI had 8 associate banks. Currently, it has 5 associate banks. They are:

  • State Bank of Bikaner and Jaipur
  • State Bank of Hyderabad
  • State Bank of Mysore
  • State Bank of Patiala
  • State Bank of Travancore

In addition to the above, SBI also has 7 non-banking subsidiaries. They are SBI Capital Markets Ltd., SBI Funds Management Pvt. Ltd., SBI Factors & Commercial Services Pvt. Ltd, SBI Cards & Payments Services Pvt. Ltd. (SBICPSL), SBI DFHI Ltd, SBI Life Insurance Company Limited and SBI General Insurance.

Although SBI comes under the definition of a nationalized bank, RBI puts State Bank of India and its 5 associate banks under a separate category ‘SBI & Associates’).

2. Scheduled Commercial Private Sector Banks:

Private sector banks are those whose majority stake is in private hands. Indian has two types of private sector banks:

  1. Old Private Sector Banks
  2. New Private Sector Banks.

3. Old Private Banks:

There are 12 old private sector banks:

  • Catholic Syrian Bank
  • City Union Bank
  • Dhanlaxmi Bank
  • Federal Bank
  • Jammu and Kashmir Bank
  • Karnataka Bank
  • Karur Vysya Bank
  • Lakshmi Vilas Bank
  • Nainital Bank
  • Ratnakar Bank
  • South Indian Bank
  • Tamilnad Mercantile Bank

Of the above banks, Nainital Bank is a subsidiary of the Bank of Baroda. 98.57% stake in Nainital Bank is held by Bank of Baroda. There were also other old private sector banks which have now merged with other banks. For instance:

  • In 2007 Lord Krishna Bank merged with Centurion Bank of Punjab.
  • In 2006, Sangli Bank merged with ICICI Bank.
  • In 2008, Centurion Bank of Punjab merged with HDFC.

2. New Private Sector Banks:

In 1993, RBI issued revised guidelines regarding the entry of private sector banks. Therefore, new private sector banks are the ones which were incorporated as per such revised guidelines. Currently, there are 7 new private sector banks:

  • Axis Bank Limited
  • Bandhan Bank Limited
  • DCB Bank Limited
  • HDFC Bank Limited
  • ICICI Bank Limited
  • IndusInd Bank Limited
  • IDFC Bank Limited
  • Kotak Mahindra ING Vysya Bank
  • YES Bank Limited

3. Scheduled Foreign Banks in India:

RBI policy towards the presence of foreign banks in India is based on two cardinal principles viz. reciprocity and single mode of presence. As of now, there are 45 foreign banks which are operating as branches in India. They are as follows:​

As of now, there are 45 foreign banks which are operating as branches in India.

  • Australia and New Zealand Banking Group Ltd.
  • National Australia Bank
  • Westpac Banking Corporation
  • Bank of Bahrain & Kuwait BSC
  • AB Bank Ltd.
  • Sonali Bank Ltd.
  • Bank of Nova Scotia
  • Industrial & Commercial Bank of China Ltd.
  • BNP Paribas
  • Credit Agricole Corporate & Investment Bank
  • Societe Generale
  • Deutsche Bank
  • HSBC Ltd.
  • PT Bank Maybank Indonesia TBK
  • Mizuho Bank Ltd.
  • Sumitomo Mitsui Banking Corporation
  • The Bank of Tokyo- Mitsubishi UFJ, Ltd.
  • SBM Bank (Mauritius) Ltd.
  • Cooperatieve Rabobank U.A.
  • Doha Bank
  • Qatar National Bank
  • JSC VTB Bank
  • Sberbank
  • DBS Bank Ltd.
  • United Overseas Bank Ltd.
  • FirstRand Bank Ltd.
  • Shinhan Bank
  • Woori Bank
  • KEB Hana Bank
  • Industrial Bank of Korea
  • Bank of Ceylon
  • Credit Suisse A.G
  • CTBC Bank Co., Ltd.
  • Krung Thai Bank Public Co. Ltd.
  • Abu Dhabi Commercial Bank Ltd.
  • Mashreq Bank PSC
  • First Abu Dhabi Bank PJSC
  • Emirates Bank NBD
  • Barclays Bank Plc.
  • Standard Chartered Bank
  • The Royal Bank of Scotland plc
  • American Express Banking Corporation
  • Bank of America
  • Citibank N.A.
  • J.P. Morgan Chase Bank N.A.

Scheduled Co-operative Banks of India:

The cooperative bank is also regulated by the RBI. They are governed by the banking regulations act 1949 and banking laws (Co-operative Societies) act, 1965. These banks provide most services such as savings and current accounts, safety deposit lockers, loan or mortgages to private and business customers.

Urban Co-Operative Banks:

  • Abhyudaya Co-operative Bank Ltd.
  • Ahmedabad Mercantile Co-Op Bank Ltd.
  • Amanath Co-operative Bank Ltd.
  • Andhra Pradesh Mahesh Co-Op Urban Bank Ltd.
  • Apna Sahakari Bank Ltd.
  • Bassein Catholic Co-operative Bank Ltd.
  • Bharat Co-operative Bank (Mumbai) Ltd.
  • Bharati Sahakari Bank Limited.
  • Bombay Mercantile Co-operative Bank Limited
  • Citizen Credit Co-operative Bank Ltd.
  • Cosmos Co-operative Bank Ltd
  • Dombivli Nagari Sahakari Bank Ltd.
  • Goa Urban Co-operative Bank Limited.
  • Gopinath Patil Parsik Janata Sahakari Bank Ltd.
  • Greater Bombay Co-operative Bank Limited
  • GS Mahanagar Co-operative Bank Ltd.
  • Indian Mercantile Co-operative Bank Ltd.
  • Jalgaon Janata Sahakari Bank Ltd.

State Co-Operative Banks:

  • Andhra Pradesh State Co-operative Bank Ltd.
  • The Bihar State Co-operative Bank Ltd.
  • Chhatisgarh Rajya Sahakari Bank Maryadit
  • The Goa State Co-operative Bank Ltd.
  • The Gujarat State Co-operative Bank Ltd.
  • Haryana Rajya Sahakari Bank Ltd.
  • Himachal Pradesh State Co-operative Bank Ltd.
  • Karnataka State Co-operative Apex Bank Ltd.
  • Kerala State Co-operative Bank Ltd.
  • Madhya Pradesh Rajya Sahakari Bank Maryadit
  • The Maharashtra State Co-operative Bank Ltd.
  • The Orissa State Co-operative Bank Ltd.
  • Pondicherry State Co-operative Bank Ltd.
  • Punjab State Co-operative Bank Ltd.
  • The Rajasthan State Co-operative Bank Ltd.
  • Tamil Nadu State Apex Co-operative Bank Ltd.
  • Telangana State Cooperative Apex Bank Ltd.
  • The Uttar Pradesh Co-operative Bank Ltd.
  • Uttarakhand State Co-operative Bank Ltd.
  • West Bengal State Co-operative Bank Ltd.

List of Regional Rural Banks:

Regional Rural Banks were started in the 1970s as even after nationalization, there were cultural issues which made it difficult for commercial banks to lend money to farmers. The regional rural banks (RRBs) are as follows:

  • Andhra Pradesh Grameena Vikas Bank
  • Allahabad UP Gramin Bank
  • Andhra Pragathi Grameena Bank
  • Arunachal Pradesh Rural Bank
  • Assam Gramin Vikash Bank
  • Bangiya Gramin Vikash Bank
  • Baroda Gujarat Gramin Bank
  • Baroda Rajasthan Kshetriya Gramin Bank
  • Baroda Uttar Pradesh Gramin Bank
  • Bihar Gramin Bank
  • Central Madhya Pradesh Gramin Bank
  • Chaitanya Godavari Grameena Bank
  • Chhattisgarh Rajya Gramin Bank
  • Dena Gujarat Gramin Bank
  • Ellaquai Dehati Bank
  • Gramin Bank of Aryavart
  • Himachal Pradesh Gramin Bank
  • J&K Grameen Bank
  • Jharkhand Gramin Bank
  • Karnataka Vikas Grameena Bank
  • Kashi Gomti Samyut Gramin Bank
  • Kaveri Grameena Bank     
  • Kerala Gramin Bank
  • Langpi Dehangi Rural Bank
  • Madhya Bihar Gramin Bank
  • Madhyachal Gramin Bank
  • Maharashtra Gramin Bank
  • Malwa Gramin Bank
  • Manipur Rural Bank
  • Meghalaya Rural Bank
  • Mizoram Rural Bank
  • Nagaland Rural Bank
  • Narmada Jhabua Gramin Bank
  • Odisha Gramya Bank
  • Pallavan Grama Bank

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