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What Is Public Sector Banks, Total Public Sector Banks In India, And Their Branches 

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What Is Public Sector Banks, Total Public Sector Banks In India, And Their Branches 
What Is Public Sector Banks, Total Public Sector Banks In India, And Their Branches 

What Is Public Sector Banks, Total Public Sector Banks In India And Their Branches  Canara Bank is an Indian government-owned company, listed among Indias oldest government-owned banks, as well as among the largest Indian government-owned banks. Bank of Baroda, along with 13 other leading commercial banks of India, was nationalised by the Government of India on 19 July 1969, and was designated a public sector enterprise (PSU) for profit. The largest publicly-owned bank in India & the #2 in Indias Top 10 banks, and also the financial services listed entity, SBI, is headquartered in Mumbai, Indias financial capital.  This bank is the largest public sector bank of India, holding 1/4th of total loans and deposits in financial markets at present. India has one of the strongest banking, finance, and market cap in terms of number of banking companies including Public Sector banks and Private Sector banks.  Private sector banks in India are non-shareholders and non-capitalised by Government of India, such as Punjab National Bank, SBI Bank of India, etc.

Public sector banks are managed under Acts passed by Parliament of India, such as the State Bank of India (Subsidiary Banks) Act, 1959 and Bank Nationalization Act (1970, 1980), whereas private sector banks are registered under the laws of governance in the Companies Act.

Private sector banks and public sector banks are differentiated mostly on the basis of the individual holding a majority of shares, wherein the private sector banks have private individuals and corporations holding the majority of shares, whereas the public sector banks have government holding the majority of shares.  ICICI Bank is Indias second largest bank, also listed among Indias “Big 4” banks, with subsidiaries in Canada, United Kingdom, and United States, which are Indias largest private sector banks.

ICICI bank provides a variety of financial services to various segments of customers like big & medium business, MSMEs, agriculture, retail business. The Industrial Credit and Investment Corporation of India, popularly known as ICICI bank, has a market cap of Rs.  Established way back in the year 1994, the IndusInd Bank is headquartered in Mumbai, and the majority of its branches are concentrated across Indias metro cities – Mumbai, Delhi, and Chennai. Bank of Baroda operates across a network of 9,482 branches across India and overseas, with about 13,193 ATMs operating.  Better known as the international bank of India, the Bank of Baroda was founded in 1908 and is headquartered in Vadodara (formerly known as Baroda), Gujarat, India. Canara Bank is an Indian government-owned international banking and money services firm, headquartered in Vadodara (formerly known as Baroda) in Gujarat, India. The bank was established on November 11, 1919, the Bank currently operates across India with more than 4,200+ branches.

  Union Bank of India has 3400 banking branches in India, 4 branches abroad, with total ATMs counted 1524. The One Bank has opened 279 branches and 199 ATMs in a very short time across India, with their customer base numbering four crore active customers. Some of the services that this bank offers are loans, deposits, accounts, insurance, investment solutions, etc. They have a Pan Indian network of 1892 branches and 3467 ATMs nationwide. Bank of India has more than 5000 branches across India, which are spread across all States/Union Territories, including special branches.  What makes Punjab National Bank the leading bank in India is its laudable base of over 8 crore customers.

Punjab National Bank has an impressive overseas presence with branches in Dubai and Hong Kong, complemented by an offshore banking unit based out of Mumbai. Currently, Bank of India has an overseas presence in 18 foreign countries spread across 5 continents — with 52 offices including 4 subsidiaries, 1 representative office, and 1 joint venture, at major banking & financial centres, viz., Tokyo, Singapore, Hong Kong, London, Paris, and New York (as per a tracking email by International Department). 

Punjab & Sind Bank and Bank of Maharashtra are state-owned banks, having a large customer base all over India, as well as having large branches networks. Among 12 public banks, the Indian Overseas Bank holds the leading position as it offers diverse financial products. This Bank falls in the Fortune 500 companies, which has 23 percent market share of the total assets of the India. 

The Banks board of directors is made up of government representatives from the Governments depository financial institutions in India, and also prominent professionals such as accountants, management consultants, economists, businessmen, etc. Founded in 1943, the bank is a commercial bank and a venture of the Government of the Republic of India. ICICI Bank ICICI Limited is a multinational banking and financial services company headquartered in Mumbai, Maharashtra, India, and has its registered office in Vadodara, Gujarat, India.  Kotak Mahindra Bank operates a network of 1600 branches in 689 locations across 2 519 ATMs across India, employing 71,000 employees. Axis Bank operates 4,528 branches and 12,044 ATMs nationwide, while operating 11 foreign offices and over 78,000 employees.  Bank Mergers In India Allahabad Bank, Kolkata-based, would form the Indian Bank. After merging with Vijaya Bank and Dena Bank, Baroda Bank becomes India’s third largest, offering government jobs for many.   

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