Is Indian Bank a Government Bank?

By Shubhra Anand Jain|Updated : July 18th, 2022

Indian Bank is owned and operated by the Ministry of Finance, Government of India. This bank was established in the year 1907 and is currently headquartered in Chennai. Indian bank is one of the most successful public sector banks in India and serves a hundred million customers across the country. To know more about whether Indian Bank is private or government owned completely, refer to the information given below.

Indian Bank - Government or Private?

Indian Bank is one of the top banks in India, with 5,721 branches and 5,428 ATMs across the country. The finance minister, Nirmala Sitharaman, announced the merging of Allahabad Bank with the Indian Bank on 30 August 2019. This resulted in Indian Bank becoming the 7th largest public-sector bank in India.

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FAQ’s on Is Indian Bank a Government Bank?

  • Indian Bank belongs to the government of India and is operated under the Ministry of Finance. Indian Bank is the seventh-largest bank in the country, with a total number of branches being 5,721.

  • Indian Bank is a government bank, meaning it belongs to the public sector. The finance minister of India, Nirmala Sitharaman, announced on 30 August 2019 that Allahabad Bank was being merged with Indian Bank.

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