Type of Banks & List of Banks in India
RBI (Reserve Bank of India)
The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.The Central Office of the Reserve Bank was initially established in Calcutta but was permanently moved to Mumbai in 1937. The Central Office is where the Governor sits and where policies are formulated.Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
More about RBI Click Here
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SCHEDULED BANK
All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are scheduled banks.These banks comprise Scheduled Commercial Banks and Scheduled Cooperative Banks. The type of banks comes under these Scheduled Commercial Banks and Scheduled Cooperative Banks can be seen in the above figure.A ll most all banks are Scheduled banks in India.
COMMERCIAL BANKS
The main function of these types of banks is to give financial services to the entrepreneurs and businesses. It gives financial to the businessmen like providing them with debit cards, banks accounts, short term deposits, etc. with the money deposited by people in such banks. The commercial banks also lend money to these businessmen in the form of secured loans, unsecured loans, credit cards, overdrafts and mortgage loans. It got the tag of a nationalized bank in the year 1969 and hence the various policies regarding the loans, rates of interest, etc are controlled by the Reserve Banks of India.
Public Sector Banks
These type of banks are operated by the Government. Their main focus is to serve the people rather earn profits. State bank of India, Punjab National bank, State bank of Patiala, Allahabad Bank, etc. are the some of the important examples of Public sector bank.
Public Sector Banks
These type of banks are operated by the Government. Their main focus is to serve the people rather earn profits. State bank of India, Punjab National bank, State bank of Patiala, Allahabad Bank, etc. are the some of the important examples of Public sector bank.
LIST
OF PUBLIC SECTOR BANKS / NATIONALISED BANKS
I
|
|
1
|
Allahabad
Bank
|
2
|
Andhra
Bank
|
3
|
Bank
of Baroda
|
4
|
Bank
of India
|
5
|
Bank
of Maharashtra
|
6
|
Canara
Bank
|
7
|
Central
Bank of India
|
8
|
Corporation
Bank
|
9
|
Dena
Bank
|
10
|
Indian
Bank
|
11
|
Indian Overseas Bank
|
12
|
Oriental
Bank of Commerce
|
13
|
Punjab
& Sind Bank
|
14
|
Punjab
National Bank
|
15
|
Syndicate Bank
|
16
|
UCO
Bank
|
17
|
Union
Bank of India
|
18
|
United
Bank of India
|
19
|
Vijaya
Bank
|
TOTAL
OF 19 NATIONALISED BANKS
|
|
II
|
State
Bank of India (SBI)
|
III
|
ASSOCIATES
OF SBI
|
1
|
State
Bank of Bikaner & Jaipur
|
2
|
State
Bank of Hyderabad
|
3
|
State
Bank of Mysore
|
4
|
State
Bank of Patiala
|
5
|
State
Bank of Travancore
|
TOTAL
OF 5 ASSOCIATES [ III ]
|
|
TOTAL
OF STATE BANK GROUP [II + III]
|
|
Other
Public Sector Bank
|
|
IV
|
IDBI
Ltd.
|
TOTAL
OF 26 PUBLIC SECTOR BANKS [I+II+III+IV ]
|
Private Sector Banks
These banks are owned and operated by the private institutes and are controlled by the market forces. The greater share of the private sector banks is held by private players and not the government. Some good example of Private sector banks are Kotak Mahindra bank, ICICI Bank, HDFC Bank, Axis Bank, etc.
LIST OF PRIVATE
SECTOR BANKS
1
|
City
Union Bank Ltd.
|
2
|
ING
Vysya Bank Ltd.
|
3
|
SBI
Commercial & International Bank Ltd.
|
4
|
Tamilnad
Mercantile Bank Ltd.
|
5
|
The
Catholic Syrian Bank Ltd.
|
6
|
Dhanlaxmi
Bank Ltd
|
7
|
The
Federal Bank Ltd.
|
8
|
The
Jammu & Kashmir Bank Ltd.
|
9
|
The
Karnataka Bank Ltd.
|
10
|
The
Karur Vysya Bank Ltd.
|
11
|
The
Lakshmi Vilas Bank Ltd.
|
12
|
Nainital
Bank Ltd.
|
13
|
The
Ratnakar Bank Ltd.
|
14
|
The
South Indian Bank Ltd.
|
I
|
TOTAL
OF 14 PVT BANKS [I]
|
II
|
NEW
PRIVATE SECTOR BANKS
|
15
|
Axis
Bank Ltd.
|
16
|
Development
Credit Bank Ltd.
|
17
|
HDFC
Bank Ltd.
|
18
|
ICICI
Bank Ltd.
|
19
|
Indusind
Bank Ltd.
|
20
|
Kotak
Mahindra Bank Ltd.
|
21
|
YES
Bank
|
II
|
TOTAL
OF 7 NEW PVT BANKS [II]
|
III
|
TOTAL
OF 21 PVT BANKS [I+II]
|
Foreign banks
These banks have Head Office outside India and branch in India, Besides, the Reserve Bank of India (hereinafter referred to as RBI) acts as the central bank of the country. RBI is responsible for development and supervision of the constituents of the Indian financial system (which comprises banks and non-banking financial institutions) as well as for determining, in conjunction with the central Government, the monetary and credit policies. They are also controlled by RBI.
LIST OF FOREIGN BANKS
1
|
AB Bank
Limited
|
2
|
Abu
Dhabi Commercial Bank Limited
|
3
|
American
Express Banking Corporation
|
4
|
Antwerp
Diamond Bank N.V.
|
5
|
Australia
& New Zealand Banking Group Limited
|
6
|
Bank
Internasional Indonesia
|
7
|
Bank of
America NA
|
8
|
Bank of
Bahrain and Kuwait B.S.C.
|
9
|
Bank of
Ceylon
|
10
|
Barclays
Bank PLC
|
11
|
BNP
Paribas
|
12
|
Chinatrust
Commercial Bank
|
13
|
Citibank
N.A.
|
14
|
Commonwealth
Bank of Australia
|
15
|
Credit
Agricole Corporate & Investment Bank
|
16
|
Credit
Suisse AG
|
17
|
DBS
Bank Ltd.
|
18
|
Deutsche
Bank AG
|
19
|
FirstRand
Bank Ltd.
|
20
|
HSBC
Bank Oman S.A.O.G.
|
21
|
Industrial
& Commercial Bank of China Limited
|
22
|
JPMorgan
Chase Bank
|
23
|
JSC VTB
Bank
|
24
|
Krung
Thai Bank Public Company Ltd.
|
25
|
Mashreqbank
psc
|
26
|
MIZUHO
Corporate Bank Ltd.
|
27
|
National
Australia Bank Ltd.
|
28
|
Rabobank
International
|
29
|
Sberbank
|
30
|
Shinhan
Bank
|
31
|
Societe
Generale
|
32
|
Sonali
Bank Ltd.
|
33
|
Standard
Chartered Bank
|
34
|
State
Bank of Mauritius Ltd.
|
35
|
Sumitomo
Mitsui Banking Corporation
|
36
|
The
Bank of Nova Scotia
|
37
|
The
Bank of Tokyo-Mitsubishi UFJ, Ltd.
|
38
|
The
Hongkong and Shanghai Banking Corpn.Ltd.
|
39
|
The
Royal Bank of Scotland
|
40
|
UBS AG
|
41
|
United
Overseas Bank Ltd.
|
42
|
Westpac
Banking Corporation
|
43
|
Woori
Bank
|
COOPERATIVE BANKS
Cooperative Banks are governed by the provisions of State Cooperative Societies Act and meant essentially for providing cheap credit to their members. It is an important source of rural credit i.e., agricultural financing in India.
Regional Rural Banks
Regional Rural Banks
These are state owned. These banks have been established with a view to developing the rural economy by providing, for the purpose of development of agriculture, trade, commerce, industry and other productive activities in the rural areas, credit and other facilities, particularly to the small and marginal farmers, agricultural labourers and artisans and small entrepreneurs.
Primary Cooperative Banks
Primary Cooperative Banks, popularly know n as Urban Cooperative Banks (UCBs) are registered as cooperative societies under the provisions of, either the State Cooperative Societies Actof the State concerned or the Multi State Cooperative Societies Act, 2002. They are regulated and supervised by the Registrar of Cooperative Societies (RCS) of State concerned or by the Central Registrar of Cooperative Societies (CRCS), as the case may be. The applicability of banking laws to cooperatives societies since March 1, 1966 ushered in ‘duality of control’ over UCBs between the Registrar of Cooperative Societies/Central Registrar of Cooperative Societies and the Reserve Bank of India. The Reserve Bank regulates and supervises the banking functions of UCBs under the provisions of Banking regulation Act, 1949(AACS). Within the Reserve Bank, a separate department,viz. Urban Banks Department, has been entrusted with these functions. Urban Banks Department functions in close coordination with other regulators viz., RCSs and CRCS. The functions of the department can be broadly divided into (i) regulatory (ii) supervisory and (iii) developmental.
Primary Cooperative Banks, popularly know n as Urban Cooperative Banks (UCBs) are registered as cooperative societies under the provisions of, either the State Cooperative Societies Actof the State concerned or the Multi State Cooperative Societies Act, 2002. They are regulated and supervised by the Registrar of Cooperative Societies (RCS) of State concerned or by the Central Registrar of Cooperative Societies (CRCS), as the case may be. The applicability of banking laws to cooperatives societies since March 1, 1966 ushered in ‘duality of control’ over UCBs between the Registrar of Cooperative Societies/Central Registrar of Cooperative Societies and the Reserve Bank of India. The Reserve Bank regulates and supervises the banking functions of UCBs under the provisions of Banking regulation Act, 1949(AACS). Within the Reserve Bank, a separate department,viz. Urban Banks Department, has been entrusted with these functions. Urban Banks Department functions in close coordination with other regulators viz., RCSs and CRCS. The functions of the department can be broadly divided into (i) regulatory (ii) supervisory and (iii) developmental.
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