Public Sector Banks are an important part of the country’s economy and majority of shares in these banks are owned by the Government. Public Sector Banks in India offer quality banking services that include accounts, deposits, loans, debit cards, etc.
There are 27 public sector banks operating in the country. To know the top 10 public sector banks in India 2016, checkout the list given below:
10. Indian Overseas Bank
Headquartered in Chennai, Indian Overseas Bank is a leading public sector bank, which was started in the year 1937. It has more than 3,500 branches in the country and presence in many countries in the world.
9. Indian Bank
Indian Bank is number nine in the list of top 10 public sector banks in India 2016, which was started in 1907. The bank has a workforce of more than 20,000 employees and operate over 2,500 branches in the country
8. Bank of India
Bank of India was started in the year 1906 and presently among the top players in the banking sector. Headquartered in Mumbai, Bank of India operates more than 4,800 branches in the country and over 50 offices in other countries.
7. Union Bank of India
Started in the year 1919, Union Bank of India is number seven in the list of top 10 public sector banks in India 2016. It has more than 4,100 branches and over 6,900 ATMs in the country.
6. Canara Bank
Canara Bank operates more than 5,700 branches and over 9,100 ATMs in the country. It was established in the year 1906 and nationalised in 1969.
5. Central Bank of India
Founded in 1911, Central Bank of India is number five in the list of top 10 public sector banks in India 2016. Central Bank of India is among the oldest banks in the country and operates more than 4,500 branches.
4. IDBI Bank
On 4th position is IDBI Bank, which was started in the year 1964 and operated more than 1,800 branches and over 3,200 ATMs in the country. It has more than 4 lakh public shareholders and a workforce of over 15,400 employees.
3. Punjab National Bank
Punjab National Bank is a leading public sector bank in India, which was started in 1894 and nationalised in 1969. With more than 6,300 branches and over 7,800 ATMs, Punjab National Bank serves more than 8 crore customers.
2. Bank of Baroda
Founded in 1908, Bank of Baroda is number two in the list of top 10 public sector banks in India. It was nationalised in the year 1969 and presently operated more than 5,300 branches and over 8,000 ATMs in the country.
1. State Bank of India
State Bank of India is the largest and the leading public sector bank in India, which operates more than 16,300 branches in the country. Apart from India, State Bank of India has over 190 offices in 35 countries in the world.
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