LIST OF SCHEDULED COMMERCIAL BANKS IN INDIA WITH CLASSIFICATION AS PUBLIC SECTOR BANKS, PRIVATE SECTOR BANKS, REGIONAL RURAL BANKS (RRB) AND FOREIGN BANKS

Types of Banks in India

The different types of banks in India are:

• Central Bank.
• Cooperative Banks.
• Commercial Banks.
• Regional Rural Banks (RRB)
• Local Area Banks (LAB)
• Specialized Banks.
• Small Finance Banks.
• Payments Banks.

Commercial Banking System in India

Commercial Banks are is the institutions that ordinarily accept deposits from the people and advance loans. Commercial Banks are also created in India; such banks alone are called Commercial Banks which have been established in accordance with the provisions of the Banking Regulation Act, 1949. Commercial banks can be broadly divided into the public sector banks, private sector banks, foreign banks and RRBs. 

Public Sector Banks– The rights of these banks are under the Government or the country’s central bank. In Public Sector Banks the majority stake is held by the government. After the recent amalgamation of smaller banks with larger banks, there are 12 public sector banks in India as of now. A detailed list of public sector banks with website links is given below.

Private Sector Banks– Private sector banks denominating shareholder is either a private entity, individual, or group of individuals. There are 21 private sector banks in India at present as per RBI records. A detailed list of private sector banks with website links is given below.

Regional Rural Banks (RRBs)– Regional Rural Banks are government-owned scheduled commercial banks of India that operate at the regional level in different states of India. These banks are under the ownership of the Ministry of Finance, Government of India. They were created to serve rural areas with basic banking and financial services. There are 43 RRBs currently operating in India under RBI guidelines. A detailed list of RRBs with website links is given below.

Foreign Banks– These banks are headquartered outside India and are operating in India as well by setting up their branches. There are 44 foreign banks having a branch presence in India. A detailed list of foreign banks with website links is given below.

The top 5 Functions Performed by Commercial Banks are:

(a) Accepting Deposits:
(b) Advancing Loans:
(c) Discounting Bills of Exchange or Hundies:
(d) Transfer of Money:
(e) Miscellaneous Functions:

List of Commercial Banks in India with website links

List of Private Sector Banks in India

List of Public Sector Banks in India

List of Regional Rural Banks in India

List of foreign banks having branch – presence in India

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