Public Sector Banks in India
Public Sector Banks – सार्वजनिक क्षेत्र के बैंक Banks are institutions from where you can borrow or deposit money. Banks provide loan for educational, research as well as business purposes with fixed interest rates. The Private & Public Banks provide a variety of other services like fixed deposit, life covers etc. Get info on Public Sector Banks from here.
What is Public Sector Bank?
Public sector banks are banks that are controlled by the government or the majority of the share are held by the government. There are about 21 public banks in India. The public sector banks offer less interest rate on loan as compared to public sectors. Example: State bank of India, Union Bank of India. The Banks divided into 2 types as Public and Private Sector Banks.
Top public sectors banks
State Bank of India:
SBI is the largest public sector bank in India. It was officially established on 1st July 1955. It headquartered in Mumbai, Maharashtra, India. The bank has about 18,354 branches and also 16 regional hubs in India. SBI serves in 36 countries with 191 overseas offices. SBI also provides life insurance covers apart from banking services.
Union Bank of India:
Union Bank of India established on 11 November 1919 and inaugurated by Mahatma Gandhi. UBI headquartered in Mumbai, Maharashtra, India. It is the largest bank owned by the government. UBI has about 4,300 branches.
Bank of Baroda:
Bank of Baroda established by Maharaja Sayajirao Gaekwad III on 20 July 1908. It headquartered in Vadodara, Gujrat, India. It has about 5538 branches all over India. About 10 banks merged into Bank of India and also it announced that 2 more banks would merge in 2018 to make it the 3rd largest bank.
Corporation Bank established by Khan Bahadur Haji, Abdullah Haji, and Kasim Saheb Bahadur on March 12, 1906. It headquartered in Mangalore, Karnataka, India. Corporation bank has 2600 branches all over India.
The Canara is one of the oldest and also the largest public sector banks. Canara Bank founded by Ammembal Subba Rao Pai in 1906. It headquartered in Bangalore, Karnataka, India. It has about 6639 branches all over India.
Vijaya Bank established by Sri Attavara Balkrishna Shetty on 23 October 1931 at Mangalore, India. It headquartered in Bengaluru, India. The bank has about 2031 branches in India.
UCO Bank is a commercial bank owned by the government of India. It established on 6 January 1943 having its headquarters in Kolkata, West Bengal, India. It has about 3078 branches all over India.