Nationalized Banks in India: Top 20 PSU Banks and their Details - Industry, Key Person, Headquarters

Nationalized banks are an integral part of India's banking system. They are financial institutions that are owned and operated by the government of India. These banks were established with the aim of providing banking services to all sections of society, especially to the economically weaker sections.

In this article, will be discussing the top 20 nationalized banks of India, their introduction, and their contribution to the Indian banking sector.

Here are the top 20 nationalized banks in India with some key details:

1) State Bank of India (SBI)

Type: Public Sector Undertaking (PSU)

Industry: Banking and Financial Services

Founder: The British East India Company (1806)

Key Person: Dinesh Kumar Khara (Chairman)

Headquarters: Mumbai, Maharashtra

More Details: SBI is the largest bank in India in terms of assets, deposits, branches, customers, and employees. It was nationalized in 1955 and has since expanded globally with branches in over 35 countries.

2) Punjab National Bank (PNB)

Type: PSU

Industry: Banking and Financial Services

Founder: Lala Lajpat Rai

Key Person: CH. S. S. Mallikarjuna Rao (MD & CEO)

Headquarters: New Delhi

More Details: PNB is the second-largest government-owned bank in India, with over 115 million customers and more than 10,000 branches across the country.

3) Bank of Baroda (BOB)

Type: PSU

Industry: Banking and Financial Services

Founder: Maharaja Sayajirao Gaekwad III

Key Person: Sanjiv Chadha (MD & CEO)

Headquarters: Vadodara, Gujarat

More Details: BOB is the third-largest bank in India with a strong international presence, including operations in 24 countries.

4) Canara Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Ammembal Subba Rao Pai

Key Person: Lingam Venkat Prabhakar (MD & CEO)

Headquarters: Bengaluru, Karnataka

More Details: Canara Bank is one of the oldest and largest public sector banks in India, with over 10,000 branches and more than 85 million customers.

5) Union Bank of India

Type: PSU

Industry: Banking and Financial Services

Founder: Ghanshyam Das Birla

Key Person: Rajkiran Rai G. (MD & CEO)

Headquarters: Mumbai, Maharashtra

More Details: Union Bank of India is one of the largest government-owned banks in India with a wide network of over 9,500 branches and ATMs across the country.

6) Bank of India (BOI)

Type: PSU

Industry: Banking and Financial Services

Founder: Sir Sorabji Pochkhanawala

Key Person: Atanu Kumar Das (MD & CEO)

Headquarters: Mumbai, Maharashtra

More Details: BOI is one of the oldest public sector banks in India, founded in 1906. It has a strong presence across the country with over 5,000 branches and ATMs.

7) Central Bank of India

Type: PSU

Industry: Banking and Financial Services

Founder: Sorabji Pochkhanawala

Key Person: Pallav Mohapatra (MD & CEO)

Headquarters: Mumbai, Maharashtra

More Details: Central Bank of India is one of the largest and oldest public sector banks in India, with over 4,700 branches and 4,900 ATMs.

8) Indian Bank

Type: PSU

Industry: Banking and Financial Services

Founder: V. Krishnaswamy Iyer

Key Person: Padmaja Chunduru (MD & CEO)

Headquarters: Chennai, Tamil Nadu

More Details: Indian Bank is a leading public sector bank in India with over 6,000 branches and ATMs across the country. It has a strong focus on digital banking and innovation

9) Bank of Maharashtra

Type: PSU

Industry: Banking and Financial Services

Founder: V. G. Kale and D. K. Sathe

Key Person: A. S. Rajeev (MD & CEO)

Headquarters: Pune, Maharashtra

More Details: Bank of Maharashtra is a major public sector bank in India with a strong presence in Maharashtra and Goa, and over 1,900 branches and ATMs across the country.

10) Oriental Bank of Commerce (OBC)

Type: PSU

Industry: Banking and Financial Services

Founder: Rai Bahadur Lala Sohan Lal

Key Person: Mukesh Kumar Jain (MD & CEO)

Headquarters: Gurugram, Haryana

More Details: OBC is a government-owned bank in India with over 2,000 branches and ATMs across the country. It offers a wide range of banking and financial products and services to its customers.

11) Allahabad Bank

Type: PSU

Industry: Banking and Financial Services

Founder: British Government

Key Person: V. Ravi (MD & CEO)

Headquarters: Kolkata, West Bengal

More Details: Allahabad Bank is one of the oldest public sector banks in India, founded in 1865. It has a wide network of branches and ATMs across the country, and offers a range of banking and financial products and services to its customers.

12) Corporation Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Khan Bahadur Haji Abdullah Haji Kasim Saheb Bahadur

Key Person: P. V. Bharathi (MD & CEO)

Headquarters: Mangalore, Karnataka

More Details: Corporation Bank is a public sector bank in India with a strong presence in southern India. It has over 2,400 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

13) Syndicate Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Upendra Ananth Pai

Key Person: Mrutyunjay Mahapatra (MD & CEO)

Headquarters: Manipal, Karnataka

More Details: Syndicate Bank is a government-owned bank in India with a strong presence in southern India. It has over 3,000 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

14) United Bank of India

Type: PSU

Industry: Banking and Financial Services

Founder: Narendra Chandra Dutta

Key Person: Sanjay Kumar (MD & CEO)

Headquarters: Kolkata, West Bengal

More Details: United Bank of India is a government-owned bank in India with a strong presence in eastern India. It has over 2,000 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

15) Vijaya Bank

Type: PSU

Industry: Banking and Financial Services

Founder: A. B. Shetty

Key Person: R. A. Sankara Narayanan (MD & CEO)

Headquarters: Bengaluru, Karnataka

More Details: Vijaya Bank is a public sector bank in India with a strong presence in southern India. It has over 2,000 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

16) Dena Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Devkaran Nanjee

Key Person: Shri Ashwani Kumar (prior to merger)

Headquarters: Mumbai, Maharashtra

More Details: Dena Bank had a presence in various parts of India with over 1,800 branches and ATMs. It offered a range of banking and financial products and services to its customers including savings accounts, loans, credit cards, and insurance. The bank also had a focus on rural and semi-urban areas of the country and offered various schemes to promote financial inclusion in these regions.

17) Andhra Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Bhogaraju Pattabhi Sitaramayya

Key Person: J Packirisamy (MD & CEO)

Headquarters: Hyderabad, Telangana

More Details: Andhra Bank is a government-owned bank in India with a strong presence in southern India. It has over 2,800 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

18) Indian Overseas Bank (IOB)

Type: PSU

Industry: Banking and Financial Services

Founder: M. Ct. M. Chidambaram Chettyar

Key Person: Partha Pratim Sengupta (MD & CEO)

Headquarters: Chennai, Tamil Nadu

More Details: Indian Overseas Bank is a public sector bank in India with a strong presence in southern India. It has over 3,000 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

19) Punjab and Sind Bank

Type: PSU

Industry: Banking and Financial Services

Founder: Bhai Vir Singh, Sir Sunder Singh Majitha, Sardar Tarlochan Singh

Key Person: S Krishnan (MD & CEO)

Headquarters: New Delhi

More Details: Punjab and Sind Bank is a government-owned bank in India with a strong presence in northern India. It has over 1,500 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers.

20) UCO Bank

Type: PSU Industry: Banking and Financial 

Services Founder: Ghanshyam Das Birla 

Key Person: Atul Kumar Goel (MD & CEO) 

Headquarters: Kolkata, West Bengal

More details: UCO Bank is a government-owned bank in India with a strong presence in eastern and northeastern India. It has over 3,000 branches and ATMs across the country, and offers a wide range of banking and financial products and services to its customers. The bank was founded in 1943 and has been providing banking services for over 75 years. UCO Bank is known for its innovative and customer-friendly products and services, and has won several awards and accolades for its performance in the banking sector. The bank has also been actively involved in social and community development initiatives, and has contributed to various causes such as education, health, and environmental sustainability.

Bank Name	Assets (in crores)
SBI	54,77,523
PNB	12,43,318
BOB	10,25,964
Canara Bank	9,88,273
Union Bank	9,34,112
BOI	7,08,653
Central Bank	4,77,853
Indian Bank	4,57,473
Bank of Maharashtra	2,17,621
OBC	2,06,741
Allahabad Bank	1,77,903
Corporation Bank	1,64,365
Syndicate Bank	1,60,851
UBI	1,53,064
Vijaya Bank	1,49,973
Dena Bank	1,45,976
Andhra Bank	1,39,267

All the nationalized banks in India are under the control of the Government of India, and their operations are regulated by the Reserve Bank of India (RBI). These banks play a vital role in the Indian economy by providing a range of financial products and services to individuals, businesses, and industries. They also promote financial inclusion by offering services to rural and semi-urban areas of the country.