Top 10 Banks in India, Government Owned Banks of India, Largest Banks in India, Offered Products and Services

Top 10 Banks in India: In India, one of the most regulated sector is known as banking sector as without this sector nothing can be possible. After the introduction of various private banks by the Indian Government, there are many banks that formed and gave a tough competition to various nationalized players. At present, private banks have taken place of most of the nationalized banks as their quality of services they offered to their customers is unmatched. Banks are introducing many additional services to their customers now. There has been a competition between the banks operating in India. So, it must be quite difficult to chose bank that offer the best service. Therefore, this article will let you choose the best bank among the banks operating in India.

You will see a list of the largest top 10 banks in the country. These banks plays a huge role in creating the highest number of job opportunities in India. Furthermore, they have contributed to the per capita income and increasing purchasing power capability of the country. Go through the complete list of the top 10 banks in India and choose the best one accordingly.

Top 10 Banks in India

1. SBI (State Bank of India)

State Bank of India (SBI) is the top multinational public sector bank of India. It is a financial services statutory body which has its headquarters in Mumbai, Maharashtra. In all over the world, it is ranked at no. 43 and 21 in the Fortune Global 500 list of the world’s biggest corporations of 2020. It is the only Indian bank on the list with such rankings. State Bank of India is recognized as the iconic brand of India 2021 by the economic times.

2. HDFC Bank

The HDFC, fully known as Housing Development Finance Corporation is the largest private sector bank in India on the basis of the market capitalization and assets. This bank comes under the list of top 10 Banks in India. Market capitalization in March 2020 has stated that it is the largest India bank, offering services and products like retail banking, wholesale banking, loans, treasury, lifestyle loans, credit cards, and other various loans with SmartBUY and Payzapp as digital products.

3. PNB (Punjab National Bank)

PNB acronym for Punjab National Bank, is an Indian nationalized bank whose headquarters are based at New Delhi, Delhi, India. It is owned by the Ministry of Finance, government of India and it is known as the 2nd largest Public Sector Bank (PSB) in India with Global Gross Business at INR 18,51,097 crore. The current CEO of PNB is Atul Kumar Goel.

4. ICICI Bank Ltd.

ICICI or Industrial Credit and Investment Corporation of India bank comes under the list of famous banks in India and also in the top 10 Banks in India list. It came into existence in June 1994 in Vadodara by the Industrial Credit and Investment Corporation of India. This bank offers a vast range of services including current, savings account, online money transfer and tracking service, recurring deposits, time deposits, loans automated lockers, mortgage, debit and prepaid cards, credit cards, a VISA powered digital wallet.

5. Union Bank of India

Union Bank of India, also referred as UBI, is one of the top bank owned by the Indian government with more than 120 million customers and a total business of US$106 billion. Corporation Bank and Andhra Bank were merged into Union Bank of India with effect from 01.04.2020. Union Bank of India (UBI) is the first large government bank in the country to have executed 100% core banking solution. UBI got several awards and recognition for its services, digital banking, prowess in technology, MSME and development of human resources and financial inclusion.

6. Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank is another largest Indian bank in this list on the basis of its market capitalization. This bank was introduced in February 2003. Kotak Mahindra Bank Ltd. is the second- largest Indian private sector bank that offer services for retail and corporate customers which involves investment banking, personal finance, wealth management and life insurance.

7. Canara Bank

In this list, Canara Bank is also the largest nationalized Indian bank which is owned by the Ministry of Finance, government of India. It’s headquarters are situated in Bangalore city. It was formed in the year 1906 at Mangalore by Ammembal Subba Rao Pai. Canara Bank also has its branches overseas in London, New York, Hong Kong and Dubai. Canara Bank offer its services to more than 10.6 crore customers as on Dec 2021.

8. Axis Bank Ltd.

Axis Bank Ltd was founded in the year 1993 as UTI bank, however after that it changed its name to Axis Bank in the year 2007. Axis Bank has inaugurated its all-women branch in Patna in the year 2014 and the bank’s ambassador is none other than a Bollywood actress, Deepika Padukone.

The Axis Bank also operates in oversees having 11 international office branches in Dubai, Singapore, Hong Kong, Abu Dhabi, Shnaghai, Colombo, and representative offices in Dubai, Dhaka, Sharjah, Abu Dhabi, and a subsidiary in London too.

9. Bank of India

Indian nationalized bank, Bank of India has its ownership under Ministry of Finance, Government of India. Its headquarters are located in Bandra Kurla Complex, Mumbai. Since the year 1969, the bank is under the government ownership.

Bank of India has more than 5,084 branches in India which is spread over all states and union territories. These branches are directed by 54 zonal offices. Bank of India has 60 branches, 5 subsidiaries, and 1 joint venture abroad.

10. Bank of Baroda

The Bank of Baroda also commonly called as BoB, is yet another public sector bank that offers top services to more than 153 million customers across 18 countries. The bank was established in the year 1908 by Maharaja Sayajirao Gaekwad III of Baroda State. BoB has its main headquarters in Vadodara, Gujarat. The bank offers a vast products and services to its customers including deposits, loans, wealth management, cards and insurance.

 

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