Banks in India

The central and supreme money authority in India is the Reserve Bank of India. All other banks come under its control. The classifications of the banks are shown in the diagram below.

At present in India we have 88 scheduled commercial banks (SCBs) – 28 public sector banks in which the Government of India has a stake, 29 private banks of which the government does not have a stake they may be publically listed and traded on stock exchange, and there are 31 foreign banks. These banks have a combined network of over 17,000 and ATMs 53,000 branches. About 75 percent of total assets of the banking industry are held by the public sector banks as per the reports of ICRA Limited which is a rating agency and according to it the private and foreign banks hold 18.2% and 6.5% respectively.

Commercial Banks

The commercial banks in India are classified as foreign banks and Regional rural banks.

Foreign banks

The list of foreign banks in India is given below.

1. ABN AMRO Bank
2. Abu Dhabi Commercial Bank Ltd
3. American Express Bank
4. Antwerp Diamond Bank
5. Arab Bangladesh Bank
6. Bank International Indonesia
7. Bank of America
8. Bank of Bahrain & Kuwait
9. Bank of Ceylon
10. Bank of Nova Scotia
11. Bank of Tokyo Mitsubishi UFJ
12. Barclays Bank
13. BNP Paribas
14. Calyon Bank
15. ChinaTrust Commercial Bank
16. Cho Hung Bank
17. Citibank
18. DBS Bank
19. Deutsche Bank
20. HSBC (Hongkong & Shanghai Banking Corporation)
21. JPMorgan Chase Bank
22. Krung Thai Bank
23. Mashreq Bank
24. Mizuho Corporate Bank
25. Oman International Bank
26. Société Générale
27. Standard Chartered Bank
28. State Bank of Mauritius
29. Scotia
30. Taib Bank
31. Regional Rural Banks (RRBs)
32. Adhiyaman Grama Bank
33. Alaknanda Gramin Bank
34. Aligarh Gramin Bank
35. Avadh Gramin Bank
36. Aryavart Gramin Bank
37. Balasore Gramya Bank
38. Ballia Kshetriya Gramin Bank
39. Banaskantha Mehsana Gramin Bank
40. Bareilly Kshetriya Gramin Bank
41. Baroda Uttar Pradesh Gramin Bank
42. Bijapur Grameena Bank
43. Bilaspur-Raipur Kshetriya Gramin Bank
44. Bolangir Anchalik Gramya Bank
45. Bundelkhand Kshetriya Gramin Bank
46. BundiChittorgarh KshetriyaGraminBank
47. Cauvery Grameena Bank
48. Chaitanya Grameena Bank
49. Chambal Kshetriya Gramin Bank
50. Champaran Kshetriya Gramin Bank
51. Chhatrasal Gramin Bank
52. ChhindwaraSeoniKshetriyaGraminBank
53. Chitradurga Gramin Bank
54. Cuttack Gramya Bank
55. Damoh Panna Sagar Kshetriya Gramin Bank
56. Devipatan Kshetriya Gramin Bank
57. Dhenkanal Gramya Bank
58. Dungarpur Banswara Kshetriya Gramin Bank
59. Ellaquai Dehati Bank
60. Farrukhabad Gramin Bank
61. Gaur Gramin Bank
62. Gurgaon Gramin Bank
63. Hadoti Kshetriya Gramin Bank
64. Himachal Gramin Bank
65. Hissar-Sirsa Kshetriya Gramin Bank
66. Indore Ujjain Kshetriya Gramin Bank
67. Jaipur Nagaur Aanchalik Gramin Bank
68. Jamnagar Rajkot Gramin Bank
69. Jamuna Gramin Bank
70. Jhabua-Dhar Kshetriya Gramin Bank
71. Kakathiya Grameena Bank
72. Kalpatharu Grameena Bank
73. Kamraz Rural Bank
74. Kanpur Kshetriya Gramin Bank
75. Kapurthala Ferozpur Kshetriya Gramin Bank
76. Kashi Gomti Samyut Gramin Bank
77. Kisan Gramin Bank,Budaun
78. Kolar Gramin Bank
79. Krishna Grameena Bank
80. Kshetriya Gramin Bank, Hoshangabad
81. Kutch Grameen Bank
82. Malaprabha Grameena Bank
83. Mandla Balaghat Kshetriya Gramin Bank
84. Manjira Grameena Bank
85. Marwar Ganganagar Bikaner Gramin Bank (Previously : Marwar Gramin Bank)
86. Mewar Aanchalik Gramin Bank
87. Nagarjuna Grameena Bank
88. Netravati Grameena Bank
89. Nimar Kshetriya Gramin Bank
90. North Malabar Gramin Bank
91. Panchmahal Vadodara Gramin Bank
92. Pandyan Grama Bank
93. Pinakini Grameena Bank
94. Pragjyotish Gaonlia Bank
95. Prathama Bank
96. Raigarh Kshetriya Gramin Bank
97. Rani Lakshmi Bai Kshetriya Gramin Bank
98. Ratlam Mandsaur Kshetriya Gramin Bank
99. Rayalaseema Grameena Bank
100. Rewa-Sidhi Gramin Bank
101. Sahyadri Gramin Bank
102. Samyut Kshetriya Gramin Bank
103. Sangameshwara Grameena Bank
104. Shahjahanpur Kshetriya Gramin Bank
105. Shivpuri Guna Kshetriya Gramin Bank
106. South Malabar Gramin Bank
107. Sree Anantha Grameena Bank
108. Sri Saraswati Grameena Bank
109. Sri Visakha Grameena Bank
110. Surat Bharuch Gramin Bank
111. Thar Aanchalik Gramin Bank
112. Tripura Gramin Bank
113. Tungabhadra Gramin Bank
114. Vidur Gramin Bank

The foreign banks and the Regional rural banks are again classified as Public sector banks and private sector banks. The lists are given below.

Public Sector Banks

The public sector banks are again classified into two and they are the State Bank of India, its associate banks and the Nationalised banks.

The State Bank of India commands the largest banking resources in India. It has seven associate banks. The SBI and its associate banks are listed below:

State Bank of India

1. State Bank of Bikaner & Jaipur
2. State Bank of Hyderabad
3. State Bank of Indore
4. State Bank of Mysore
5. State Bank of Patiala
6. State Bank of Saurashtra
7. State Bank of Travancore

Nationalised Banks

The New Bank of India have merged with the Punjab National Bank so now altogether there are 19 nationalised banks in India and the names of nationalised Banks are given below:

1. Allahabad Bank
2. Andhra Bank
3. Bank of Baroda
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. Dena Bank
10. Indian Bank
11. Indian Overseas Bank
12. Oriental Bank of Commerce
13. Punjab & Sind Bank
14. Punjab National Bank
15. Syndicate Bank
16. Union Bank of India
17. United Bank of India
18. UCO Bank
19. Vijaya Bank

There is a third group included in the public sector banks of India by RBI and it is:

Public Sector Banks

Industrial Development Bank of India (IDBI) Ltd.
IDBI and IDBI Bank Ltd. have been merged to form Industrial Development Bank of India (IDBI) Ltd. Under the Reserve Bank of India Act, 1934 the IDBI is notified as a scheduled bank by the Reserve Bank of India. The IDBI is categorized under a new sub group “other public sector bank” by the RBI.

Private Sector Banks

Under the Commercial banks the private sector banks are again classified as old private sector bank and new private sector bank. The names of banks under each are listed below.

The old private sector banks are:

1. Bank of Rajasthan Ltd.
2. Dhanalakshmi Bank Ltd.
3. Federal Bank Ltd
4. ING Vysya Bank Ltd.
5. Jammu and Kashmir Bank Ltd.
6. Karnataka Bank Ltd
7. Karur Vysya Bank Ltd
8. Ratnakar Bank Ltd.
9. SBI Commercial and International Bank Ltd.
10. South Indian Bank Ltd.
11. United Western Bank Ltd.

The new Private Sector Banks are:

1. Bank of Punjab Ltd. (since merged with Centurian Bank)
2. Centurion Bank Ltd.(now called Centurian Bank of Punjab)
3. Development Credit Bank Ltd.
4. HDFC Bank Ltd.
5. ICICI Bank Ltd.
6. IndusInd Bank Ltd.
7. Kotak Mahindra Bank Ltd.
8. UTI Bank Ltd/AXIS Bank.
9. Yes Bank Ltd.