The Indian banking sector is vast and is one of the influential industries in the country’s economy. The banks play a vital role in keeping public savings safe and providing interest. The account holders also can avail several other facilities at the bank. Before the Independence of the country, several banks got established.
After Independence, several significant reforms were introduced, and since then Indians are witnessing several changes. There is a number of banks in both the public and private sector. The Government manages and runs the banks in the public sector while individuals run the banks in the private sector. But, not all the banks in the public sector were in the public sector.
The government nationalised twenty banks and made them public from private. On this page, you will get the list of the top 10 nationalized banks in India in 2018.
1. Punjab National Bank
Punjab National Bank is one of the most popular banks in India established in 1894. PNB presently has branches and 13000 ATMs across the country. It serves 10 million customers every year. PNB got nationalized in 1969.
2. Bank of Baroda
Bank of Baroda is widely spread across the country and gets distinguished for having the highest number of international branches. It has around 9200 ATMs. Bank of Baroda has set a benchmark in the industry for delivering prompt services with fast responses ensuring better customer satisfaction. Bank of Baroda got nationalized in 1969.
3. Canara Bank
Canara Bank presently has 9734 branches across the country in different cities and also has branches across eight other countries. In recent times, Canara Bank emerged as one of the leading banks serving around 106 million customers.
It got established in 1906. For excellent customer service, the bank received several awards. Canara Bank got nationalized in 1969.
4. Central Bank of India
Central Bank of India was established in 1911 and is one of the oldest banks in the Indian banking sector. The bank has 4594 branches across 26 states. It has set up around 3644 ATMs. Central Bank of India is determined to deliver high-quality banking services to its customers across the country. The bank got nationalized in 1969 and is the 4th best-nationalized bank.
5. Bank of India
Bank of India got established in 1906. The bank has 5430 branches and 55 zonal offices across the country. Apart from India, the Bank of India has marked its presence in 22 countries. This commercial bank improved its services in recent times and emerged as one of the best-nationalized banks. Bank of India got nationalized in 1969.
6. Union Bank of India
Union Bank of India was established in 1919. It gets considered one of the finest banks for delivering high-quality services to its customers. The bank has around 8850 branches across the country. Presently, it has more than five million satisfied customers. The bank got nationalized in 1969.
7. Indian Overseas Bank
Indian Overseas Bank got established in 1937 by Mr. Chidambaram Chettiar. The ultimate aim of the bank was to encourage overseas banking and attract foreign investments. This bank is ISO certified and has around 3700 branches across the country. It has branches in Bangkok, South Korea, Hong Kong, etc. it got nationalised in 1969.
8. Indian Bank
Indian Bank got established in 1907 and currently, it offers excellent and advanced banking services. It has around 3218 branches and 160 ATMs across the country. Indian Bank scaled up its reputation in recent times. Indian bank got nationalised in 1969.
9. Bank of Maharastra
Corporation Bank got established in 1935 and got nationalised in 1980. Currently, the bank has 2022 branches along with 2000 ATMs across different cities in the country. It is one of the oldest banks and is respected in the industry for its continuous growth of customer base and advanced banking services.
10. UCO Bank
UCO Bank was established in 1943 and is one of the old commercial banks in the Indian banking sector. This bank is growing fast with its excellent banking services. It has more than 3078 branches and 2464 ATMs across the country. Indian government nationalized UCO Bank in 1969. It is one of the leading commercial banks in India.
| Bank Name | Founded | Branches | ATM’s | Customers |
|---|---|---|---|---|
| 1. Punjab National Bank | 1894 | 12248 | 13000 | 180000000 |
| 2. Bank of Baroda | 1908 | 8520 | 9200 | 153000000 |
| 3. Canara Bank | 1906 | 9734 | 12208 | 106000000 |
| 4. Central Bank of India | 1911 | 4594 | 3644 | – |
| 5. Bank of India | 1906 | 5430 | 5551 | – |
| 6. Union Bank of India | 1919 | 8850 | 11200 | 120000000 |
| 7. Indian Overseas Bank | 1937 | 3218 | 3270 | – |
| 8. Indian Bank | 1907 | 5735 | 5428 | 100000000 |
| 9. Bank of Maharashtra | 1935 | 2022 | – | 29000000 |
| 10. UCO Bank | 1943 | 3078 | 2564 | – |
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