🏦 Top Government Banks in India – Full Details

Public Sector Banks (PSBs) are banks where the Government of India holds more than 50% stake. They play a crucial role in financial inclusion, rural banking, corporate lending, and economic development.

As of 2025, India has 12 major PSBs after mergers and consolidations announced by the Government.

1. State Bank of India (SBI)

Headquarters: Mumbai, Maharashtra
Founded: 1 July 1955 (origin dates back to 1806 as Bank of Calcutta)
Ownership: Government of India holds ~57% through LIC and other bodies.
Branches: ~22,500+ in India and 230+ international offices in 32 countries.
ATMs: 62,000+
Specialties:
- Largest bank in India (market share >22%).
- Wide range of retail, corporate, agricultural, and digital banking services.
- Flagship digital platform: YONO (You Only Need One).
Subsidiaries: SBI Life Insurance, SBI Mutual Fund, SBI Cards, etc.

2. Punjab National Bank (PNB)

Headquarters: New Delhi
Founded: 19 May 1894, Lahore (Pre-independence India)
Branches: 10,000+
ATMs: 13,000+
Highlights:
- Second-largest PSB after SBI.
- Merged with Oriental Bank of Commerce and United Bank of India in 2020.
- Strong presence in rural and semi-urban regions.
- Known for agriculture and MSME lending.

3. Bank of Baroda (BoB)

Headquarters: Vadodara, Gujarat
Founded: 20 July 1908 by Maharaja Sayajirao Gaekwad III
Branches: 8,200+ (including overseas presence in 21 countries)
Highlights:
- India’s 3rd largest PSB.
- In 2019, merged with Vijaya Bank and Dena Bank.
- Focus on corporate, retail, and international banking.
- Digital brand: Baroda M-Connect Plus.

4. Canara Bank

Headquarters: Bengaluru, Karnataka
Founded: 1906, by Ammembal Subba Rao Pai
Branches: 9,700+
Highlights:
- One of the oldest PSBs.
- Merged with Syndicate Bank in 2020.
- Offers strong retail banking and NRI banking services.
- Known for technology-driven services and social banking initiatives.

5. Union Bank of India

Headquarters: Mumbai, Maharashtra
Founded: 1919
Branches: 9,500+ (post-merger)
Highlights:
- Merged with Andhra Bank and Corporation Bank in 2020.
- Provides comprehensive services: retail, agriculture, MSME, corporate.
- Actively expanding digital platforms like UnionNXT.

6. Bank of India (BoI)

Headquarters: Mumbai, Maharashtra
Founded: 7 September 1906
Branches: 5,000+ in India and 45 overseas offices.
Highlights:
- Among the first Indian banks to open a foreign branch (London, 1946).
- Caters strongly to trade finance and NRI customers.

7. Indian Bank

Headquarters: Chennai, Tamil Nadu
Founded: 1907
Branches: 6,000+ (after merger with Allahabad Bank in 2020).
Highlights:
- Strong presence in South India.
- Known for agricultural lending and MSME sector support.
- Offers innovative loan products for women entrepreneurs.

8. Central Bank of India

Headquarters: Mumbai, Maharashtra
Founded: 21 December 1911
Branches: 4,500+
Highlights:
- First Indian commercial bank to be completely owned and managed by Indians.
- Major government lending schemes like PMJDY, Mudra Yojana.

9. Indian Overseas Bank (IOB)

Headquarters: Chennai, Tamil Nadu
Founded: 1937 by M. Ct. M. Chidambaram Chettiar
Branches: 3,200+
Highlights:
- Strong presence in South India and overseas (especially in Southeast Asia).
- Specializes in foreign exchange and overseas remittances.

10. UCO Bank

Headquarters: Kolkata, West Bengal
Founded: 1943
Branches: 3,000+
Highlights:
- Established during World War II.
- Plays a key role in government schemes and rural credit.
- Has a decent international presence (Singapore, Hong Kong).

11. Bank of Maharashtra (BoM)

Headquarters: Pune, Maharashtra
Founded: 1935
Branches: 2,300+
Highlights:
- Known as the “common man’s bank”.
- Strong presence in Maharashtra state.
- Aggressively expanding digital services.

12. Punjab & Sind Bank

Headquarters: New Delhi
Founded: 24 June 1908
Branches: 1,500+
Highlights:
- Mainly operates in North India (Punjab, Haryana, Delhi).
- Focus on small businesses and agriculture.

🔑 Key Role of PSBs in India

Financial Inclusion: Jan Dhan Yojana, Mudra loans, PM SVANidhi.
Government Schemes Implementation: DBT (Direct Benefit Transfer), subsidy distribution.
Agricultural Lending: Kisan Credit Cards, crop loans.
Corporate & Infrastructure Finance: Large-scale project funding.
International Banking: NRI services, trade finance.

✅ In summary:

SBI is the largest and most influential.
PNB & BoB are strong universal banks.
Canara & Union Bank are growing rapidly after mergers.
Smaller banks like UCO, IOB, Punjab & Sind Bank still focus on regional strength.

Would you like me to also prepare a comparison table (branches, ATMs, net profit, market share, etc. for each PSB in 2025) so you can see the differences at a glance?

Top government banks in India