List of banks in India

Banks in India are classified into four categories -

• Commercial Banks
• Small Finance Banks
• Payments Banks
• Co-operative Banks

Public-sector banks

• Public Sector Banks (PSBs) are a major type of bank in India, where a majority stake (i.e. more than 50%) is held by the government.
• In April 2019, Vijaya Bank and Dena Bank were merged with Bank of Baroda.^[1]
• On 30 August 2019, Union Finance Minister Nirmala Sitaraman announced merger of six public sector banks (PSBs) with four better performing anchor banks in order to streamline their operation and size, two banks were amalgamated to strengthen national presence and four were amalgamated to strengthen regional focuses. Subsequently, the number of public sector bank has been reduced to 12 from 27.^[2][3] This new amalgamation came effective from 1 April 2020.^[4]

List of Public-Sector Banks in India as of 1 April 2020:

Private-sector banks

List of Private Banks: At present, there are 21 private banks in India as of 27 November 2020.

Regional Rural Banks (RRBs)

List of Regional Rural Bank: At present, there are 43 RRBs in India as of 1 November 2020.

Foreign banks

Foreign banks with branches

List of notable banks which are incorporated outside India and are operating branches in India:

Foreign banks with representative offices

List of notable foreign banks with representative offices in India:

Small finance banks

Payments banks

Bank Name	Established	Headquarters	Branches	Revenues	References
Airtel Payments Bank	2017	New Delhi, Delhi		₹474 crores (FY2020)	[23] [24]
India Post Payments Bank	2018	New Delhi, Delhi	650 Branches	₹48 crores (FY2019)	[25] [26]
Paytm Payments Bank	2017	Noida, Uttar Pradesh		₹29.8 crores (FY2020)	[27] [28]
Jio Payments Bank	2018	Mumbai, Maharashtra			[29] [30]
Fino Payments Bank	2017	Mumbai, Maharashtra	410 Branches	₹689 crores (FY2020)	[31] [32]
NSDL Payments Bank	2018	Mumbai, Maharashtra			[33]

Co-operative banks

State Co-operative Banks (SCBs)

List of State Co-operative Banks:

Urban Co-operative Banks (UCBs)

List of scheduled and unscheduled Urban Co-operative Banks:

Local Area Banks

Local Area Banks are non-scheduled banks. They were set up with the twin objectives of providing an institutional mechanism for promoting rural and semi-urban savings and for providing credit for viable economic activities in local areas. They were established as Public Limited Companies in the private sector. They are promoted either by individuals, corporates, trusts or societies. The minimum paid up capital of such banks is ₹50 million. The promoter's contribution should be at least ₹20 million. Local Area Banks can operate and open branches in a maximum of 3 geographically contiguous districts. They are governed by the provisions of the Reserve Bank of India Act, 1934, the Banking Regulation Act, 1949 and other relevant statutes. They are to be registered as Public Limited Companies under the Companies Act 1956. Since they are non-scheduled banks, they cannot borrow funds from the Reserve Bank of India, like other scheduled commercial banks.^[34]

List of Local Area Banks: ^[35]

See also

• Banking in India
• Indian Financial System Code
• List of largest banks
• List of companies of India
• Make in India
• Reserve Bank of India

References

External links

• "Banks in India". Reserve Bank of India.