Banks in India: The largest banks in India have assisted India’s development in many ways. The banking sector plays a vital role in any economy’s growth. With the merger of banks in 2019, there are a total of 12 public sector banks and 21 private sector banks in India. The top 10 banks in India have dominated the banking sector for quite some time, and they have a combined market share of more than 70 percent. Check the list of Public Sector Banks and Private Sector Banks in India 2023
These banks are responsible for creating the highest number of job opportunities in the country. Moreover, they have contributed to the increasing purchasing power capability and per capita income of the country. Check the complete list of the top 10 banks in the country and find the key details about them in this article.
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Top 10 Largest Banks in India, all Public and Private Sector per Market Capitalization
Below is the list of the top banks in India in terms of market capitalization for 2022. India is home to 12 public sector banks and 21 private sector banks. In addition, there are 45 foreign banks in the private sector supporting the Indian banking system.
- HDFC Bank
- State Bank of India
- ICICI Bank
- Axis Bank
- Kotak Mahindra Bank
- IndusInd Bank
- Yes Bank
- Punjab National Bank
- Bank of Baroda
- Bank of India
The banks in India are divided into two categories– scheduled banks and non-scheduled banks. Scheduled banks are those banks that are included in the second schedule of the RBI Act, 1934, while the non-scheduled banks are not listed in the second schedule of the RBI Act, 1934.
On the basis of ownership, the banks are further divided into– Private Sector Banks, Public Sector Banks, and Foreign Banks.
Types of commercial banks in India
Scheduled Banks:- Banks that have been included in the Second Schedule of RBI Act,1934. These are categorized below.
1. Private Sector Banks:- Majority of the stake is held by private individuals. Examples of Private banks are HDFC Bank, ICICI Bank, AXIS Bank, etc.
2. Public Sector Banks:– Majority of the stake is held by the government. Examples of Public Sector Banks are Punjab National Bank, State Bank of India and Central Bank of India, etc.
3. Foreign Banks:- Banks having Head offices outside India are known as Foreign Banks. Examples of Foreign Sector Banks are Standard Chartered Bank, American Express, Citi Bank etc.
In this article, we have published the list of all the Private Sector Banks and Public Sector Banks.
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List of all Public and Private Sector Banks in India 2023
| List of Public Sector Banks in India 2022 | ||
| Bank Name | Establishment | Headquarter |
| 1. Bank of Baroda | 1908 | Vadodara, Gujarat |
| 2. Bank of India | 1906 | Mumbai, Maharashtra |
| 3. Bank of Maharashtra | 1935 | Pune, Maharashtra |
| 4. Canara Bank | 1906 | Bengaluru, Karnataka |
| 5. Central Bank of India | 1911 | Mumbai, Maharashtra |
| 6. Indian Bank | 1907 | Chennai, Tamil Nadu |
| 7. Indian Overseas Bank | 1937 | Chennai, Tamil Nadu |
| 8. Punjab and Sind Bank | 1908 | New Delhi, Delhi |
| 9. Punjab National Bank | 1894 | New Delhi, Delhi |
| 10. State Bank of India | 1955 | Mumbai, Maharashtra |
| 11. UCO Bank | 1943 | Kolkata, West Bengal |
| 12. Union Bank of India | 1919 | Mumbai, Maharashtra |
| List of Private Sector Banks 2023 | ||
| Bank name | Establishment | Headquarter |
| 1. Axis Bank | 1993 | Mumbai, Maharashtra |
| 2. Bandhan Bank | 2015 | Kolkata, West Bengal |
| 3. CSB Bank | 1920 | Thrissur, Kerala |
| 4. City Union Bank | 1904 | Thanjavur, Tamil Nadu |
| 5. DCB Bank | 1930 | Mumbai, Maharashtra |
| 6. Dhanlaxmi Bank | 1927 | Thrissur, Kerala |
| 7. Federal Bank | 1931 | Aluva, Kerala |
| 8. HDFC Bank | 1994 | Mumbai, Maharashtra |
| 9. ICICI Bank | 1994 | Mumbai, Maharashtra |
| 10. IndusInd Bank | 1964 | Mumbai, Maharashtra |
| 11. IDFC FIRST Bank | 2015 | Mumbai, Maharashtra |
| 12. Jammu & Kashmir Bank | 1938 | Srinagar, Jammu and Kashmir |
| 13. Karnataka Bank | 1924 | Mangaluru, Karnataka |
| 14. Karur Vysya Bank | 1916 | Karur, Tamil Nadu |
| 15. Kotak Mahindra Bank | 2003 | Mumbai, Maharashtra |
| 16. IDBI Bank | 1964 | Mumbai, Maharashtra |
| 17. Nainital bank | 1922 | Nainital, Uttarakhand |
| 18. RBL Bank | 1943 | Mumbai, Maharashtra |
| 19. South Indian Bank | 1929 | Thrissur, Kerala |
| 20. Tamilnad Mercantile Bank | 1921 | Thoothukudi, Tamil Nadu |
| 21. YES Bank | 2004 | Mumbai, Maharashtra |
In terms of revenue, HDFC Bank is the largest bank of the private sector in India while State Bank of India (SBI) is the largest public sector bank in the country.
FAQs on Best Banks in India
The frequently asked questions on the 10 Top Banks in India are given below:
Q.1: Which is the largest bank in India?
Ans: Some of the largest banks in India are HDFC, SBI, ICICI, Axis Bank, and Kotak Mahindra Bank.
Q.2: Which is the best bank in India?
Ans: HDFC is marked as India’s No. 1 Bank in Forbes World’s best bank report.
Q.3 Which one is a better bank SBI or ICICI?
Ans: There are several factors which determine a better bank. One comparison factor is the interest rate where SBI’s interest rate is 9.60 percent whereas, the interest rate of ICICI is 10.25 percent.
Q.4: What is the age limit for clerical posts?
Ans: The age limit for clerical posts varies according to the different banks that you opt.
Q.5: Is there any negative marking in the bank recruitment exam?
Ans: Yes, there is a negative marking of 1/4th marks deducted for every wrong answer in the exam.
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