List of Public Sector Banks in India at Present: As of now there are only 12 public sector banks in India. In the year 2019, our finance minister Nirmala Sitharaman announced the merger of ten banks into four and this has come in effect from 1st April 2020. Now, there are 12 public sector banks, which are managed and controlled by Reserve Bank of India.
List of Public Sector Banks in India
The merger of banks came into effect from 1st April 2020 although the union cabinet gave the final approval on 4th March. The merger of the banks was announced last year in August. Now merged banks will be operated as the banks in which they have merged and their customer will be treated as the customer of the banks operating as the main unit.
Now check the list of public sector banks in India with their headquarters, Heads and taglines.
|Sl. No.||Public Sector Bank||Headquarter||CEO/MD||Tag Line|
|1.||Punjab National Bank||New Delhi||S. S. Mallikarjuna Rao||The Name you can Bank Upon|
|2.||Indian Bank||Chennai||Padmaja Chundru||Your Tech-friendly bank|
|3.||State Bank of India||Mumbai||Dinesh Kumar Khara (Chairman)||With you all the way, Pure Banking Nothing Else, The Nation’s banks on us|
|4.||Canara Bank||Bangalore||M.Venkat Prabhakar||Together we can|
|5.||Union Bank of India||Mumbai||Rajkiran Rai G||Good people to bank with|
|6.||Indian Overseas bank||Chennai||Partha Pratim|
Sengupta (MD and CEO)
|Good people to grow with|
|7.||UCO Bank||Kolkata||Atul Kumar Goel (MD and CEO)||Honours Your Trust|
|8.||Bank of Maharashtra||Pune||A.S. Rajeev||One Family One Bank|
|9.||Punjab and Sind Bank||Rajendra Place, New Delhi||S Krishnan (MD and CEO)||Where Service Is A Way Of Life|
|10.||Bank of India||Mumbai||Atanu Kumar Das||Relationships beyond Banking|
|11.||Central Bank of India||Mumbai||M. V. Rao||Central To you Since 1911, Build A Better Life Around Us|
|12.||Bank of Baroda||Vadodara, Gujarat||Sanjiv Chadha||India’s International Bank|
Check the list of bank merged, with effect from 1.04.2020
1. As per the latest information, the Oriental bank of commerce and the united bank of India has been merged with Punjab national bank forming the second-largest state-run bank.
2. Syndicate Bank has merged with Canara bank forming the fourth largest bank of India.
3. Branches of Allahabad Bank will operate as Indian Bank, making it Seventh Largest Bank of India.
4. Andhra Bank and Corporation Bank have merged with Union Bank of India, making it the fifth-largest bank of India.
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