List of Public Sector Banks In India

Public Sector Banks (PSBs) play a pivotal role in India’s economic framework. Owned majorly by the Government of India, these banks are trusted financial institutions that cater to the diverse banking needs of citizens. As of 2025, there are 12 Public Sector Banks in India after various mergers and restructuring efforts by the government. This article provides a detailed list of these banks along with their headquarters and key insights.

What Are Public Sector Banks?

Public Sector Banks are financial institutions where the majority stake (more than 50%) is held by the Government of India. These banks ensure financial inclusion, provide loans at affordable rates, and are key contributors to India’s economic development.

List of Public Sector Banks in India (2025)

Here is the updated list of Public Sector Banks in India:

1. State Bank of India (SBI)
   • Headquarters: Mumbai, Maharashtra
   • Key Highlights: Largest public sector bank in India with a vast network of branches worldwide.
2. Punjab National Bank (PNB)
   • Headquarters: New Delhi
   • Key Highlights: A leading PSB formed after merging with Oriental Bank of Commerce and United Bank of India.
3. Bank of Baroda (BoB)
   • Headquarters: Vadodara, Gujarat
   • Key Highlights: Offers international banking services with branches across multiple countries.
4. Canara Bank
   • Headquarters: Bengaluru, Karnataka
   • Key Highlights: Merged with Syndicate Bank to become one of the largest PSBs.
5. Union Bank of India
   • Headquarters: Mumbai, Maharashtra
   • Key Highlights: Enhanced presence after merging with Andhra Bank and Corporation Bank.
6. Bank of India (BoI)
   • Headquarters: Mumbai, Maharashtra
   • Key Highlights: Known for its extensive presence across rural and urban areas.
7. Indian Bank
   • Headquarters: Chennai, Tamil Nadu
   • Key Highlights: Strengthened operations after merging with Allahabad Bank.
8. Central Bank of India
   • Headquarters: Mumbai, Maharashtra
   • Key Highlights: One of the oldest public sector banks in India.
9. Indian Overseas Bank (IOB)
   • Headquarters: Chennai, Tamil Nadu
   • Key Highlights: Focuses on international banking and NRI services.
10. UCO Bank
    • Headquarters: Kolkata, West Bengal
    • Key Highlights: Significant presence in eastern India and abroad.
11. Bank of Maharashtra
    • Headquarters: Pune, Maharashtra
    • Key Highlights: Known as the “common man’s bank” with a strong regional focus.
12. Punjab & Sind Bank
    • Headquarters: New Delhi
    • Key Highlights: Primarily focuses on rural and semi-urban banking.

Major Mergers of Public Sector Banks

To strengthen the banking sector, the Government of India initiated a series of mergers:

• Oriental Bank of Commerce and United Bank of India merged with Punjab National Bank.
• Syndicate Bank merged with Canara Bank.
• Andhra Bank and Corporation Bank merged with Union Bank of India.
• Allahabad Bank merged with Indian Bank.

These mergers have reduced the number of PSBs while enhancing their efficiency and global competitiveness.

Role of Public Sector Banks in India

1. Financial Inclusion: PSBs promote inclusive banking by offering affordable financial products to underserved communities.
2. Economic Development: They provide credit to priority sectors such as agriculture, small businesses, and infrastructure.
3. Stability: As government-owned entities, PSBs ensure stability in the banking system during financial crises.

Conclusion

Public Sector Banks in India are the backbone of the nation’s financial infrastructure. With ongoing reforms and modernization, these banks continue to adapt to the changing economic landscape.