Type of Banks & List of Banks in India

Posted Date : 03-Jan-2014 , 09:40:47 pm | Posted By CASANSAAR print

Listen to this Article

0:00

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

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.

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

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.

Category : Banking | Comments : 1 | Hits : 1709

Also Read - Risks of leaving your bank account dormant

Are you also in habit of leaving your bank accounts unattended for long? Then, it's time to be alert. You may be deprived of entire money in your accounts by fraudsters. Howsoever rich you may be, but you won't want your single rupee to be taken away by fraud. In a latest development, Delhi Police Cyber Crime Cell has arrested 12 persons including 3 HDFC Bank employees for fraudulently attempting to siphon money out of a dormant account belonging to an NRI. The modus operandi adopted by t...

Also Read - Drawing power vs. Security in CC limit- open the knot

Today I am covering a very important provision in bank credit (working capital limit) which almost 100% of the people (even CAs and senior bankers) treat wrongly. Generally banks will compute drawing power (DP) in a cash credit/overdraft account by taking into consideration book debts outstanding upto 90 days. I think this concept is clear to everyone. But, almost everyone does a mess with the concept of security viz-a-viz the computation of DP. You are all aware that banks stipula...

Also Read - RBI Guidelines- Opening of Current Accounts of Borrowers by Banks

Fund diversion has always been a major problem in our banking system. It has been observed in all major cases of wilful default or fraud that the funds borrowed from banks have been diverted elsewhere and the banks had no control on utilization of funds. This situation is caused due to the fact that there is no discipline in our banking system on opening and running of current and CC/OD accounts. Borrowers have simultaneous current and CC/OD accounts with many banks. To check this loophol...

Also Read - Framework for resolution of stressed loans on account of Covid-19

The RBI has, vide notification dated 06.08.2020, issued a new framework for resolution of stressed loans caused by Covid-19. I am discussing the relevant portion of this notification in my own words in simple and clear language in three parts. Part-I (General overview of the framework) Existing frameworks for restructuring of loans before issue of this latest notification: a) Guidelines for restructuring of MSME loans vide circular dated 11.02.2020 (for MSME borrowers with exp...

Also Read - Revised Guidelines on Classification of MSMEs and Registration under Udyam

The Central Govt. has notified revised method of classification of micro, small and medium enterprises w.e.f. 1st July 2020. Those who could not find time to read entire notification or could not get any point clearly, may go through the following gist with examples for simple but clear understanding. 1. The classification of entities based on investment in plant & machinery or equipment and/or aggregate turnover is proposed as follows: Micro units- investment in plant & machinery...

Comments

You need to be logged in to post comment

Dulichand Kushwaha

08-Jan-2014 , 03:58:34 am

nice

Type of Banks & List of Banks in India

Comments

Dulichand Kushwaha

Trending Articles