Government banks in India also known as public sector banks, play a crucial role in the country's banking system and economic development. These banks are owned by the Indian government, with the government holding more than 50% of their total shareholding & also known as best savings bank accounts.
Public sector banks have been the backbone of India's financial sector for decades, providing essential banking services to millions of citizens across urban and rural areas. They offer a wide range of financial products including savings accounts, current accounts, fixed deposits, loans, and credit cards.
The Reserve Bank of India regulates these government-owned banks, ensuring they maintain high standards of financial stability and customer service. These institutions have built strong trust among Indian citizens due to their government backing and extensive branch networks.
Government banks in India, with their strong market capitalisation, continue to drive financial inclusion initiatives, reaching underserved populations and supporting the nation's economic growth through various lending programs and deposit schemes. types of bank accounts.
List of Public Sector Banks in India 2025
Currently, there are 12 nationalized banks operating in India, each serving different regions and customer segments effectively.
- State Bank of India (SBI)
- Punjab National Bank (PNB)
- Bank of Baroda (BOB)
- Bank of India (BOI)
- Canara Bank
- Union Bank of India
- Indian Bank
Top 10 Government Banks in India
These leading public sector banks have established themselves as pillars of India's banking infrastructure, offering comprehensive financial services to individuals and businesses nationwide. Government Banks in India continue to drive economic growth and financial inclusion across the country.
1. State Bank of India (SBI)
State Bank of India stands as the largest public sector bank in India and holds the distinction of being the country's biggest bank by assets, deposits, and market capitalization. As one of the best government banks in India, it was established on July 1, 1955, following the nationalization of the Imperial Bank of India, SBI has grown to become a financial giant with over 22,500 branches nationwide.
The bank serves over 450 million customers through its extensive network of branches and ATMs, making banking services accessible across urban and rural India. SBI offers a comprehensive range of financial products including personal banking, corporate banking, international banking, and treasury operations.
With its headquarters in Mumbai, SBI has established a strong international presence with offices in 36 countries. The bank's total business exceeds ₹75 lakh crores, reflecting its dominant position in the Indian banking sector.
| Feature | Details |
|---|---|
| Established | July 1, 1955 |
| Headquarters | Mumbai, Maharashtra |
| Branches | Over 22,500 |
| ATMs | Over 63,580 |
| Customer Care | 1800 112 211 |
2. Punjab National Bank (PNB)
Punjab National Bank, established in 1894, holds the distinction of being India's first swadeshi bank, founded entirely with Indian capital. With its headquarters in New Delhi, PNB has played a pivotal role in India's banking history and continues to be one of the leading public sector banks.
The bank operates through more than 12,000 branches and 13,000 ATMs across India, serving millions of customers with diverse banking needs. PNB was the first bank to introduce the teller system in India and has consistently pioneered various banking innovations throughout its long history.
PNB offers extensive banking services including retail banking, corporate banking, agricultural banking, and international banking. The bank has a strong focus on MSME lending and rural banking, contributing significantly to India's financial inclusion goals.
| Feature | Details |
|---|---|
| Established | May 19, 1894 |
| Headquarters | New Delhi |
| Branches | 12,248 |
| ATMs | 13,000+ |
| Customer Care | 1800 1800 |
3. Bank of Baroda (BOB)
Bank of Baroda, founded in 1908 by Maharaja Sayajirao Gaekwad III of Baroda, has established itself as a major public sector bank with a strong domestic and international presence. The bank's headquarters are located in Vadodara, Gujarat, and it operates through nearly 10,000 branches across India.
BOB has a significant international footprint with operations in 17 countries, making it one of India's most globally connected public sector banks. The bank serves over 130 million customers and has total business exceeding ₹15 lakh crores.
The bank is known for its innovative digital banking solutions, including the BOB World mobile app, which offers comprehensive banking services. BOB has been actively supporting government initiatives like financial inclusion and has a strong presence in rural and semi-urban areas.
| Feature | Details |
|---|---|
| Established | July 20, 1908 |
| Headquarters | Vadodara, Gujarat |
| Branches | 9,693 |
| ATMs | 10,033+ |
| Customer Care | 1800 258 4455 |
4. Bank of India (BOI)
Bank of India, established in 1906 by a group of prominent businessmen from Mumbai, has grown to become one of India's leading public sector banks. Nationalized in 1969 along with 13 other banks, BOI has since expanded its operations significantly across the country.
The bank operates through over 5,100 branches and has a strong presence in both urban and rural markets. BOI is known for its customer-centric approach and offers a wide range of banking products and services including zero balance savings accounts, various loan products, and digital banking solutions.
BOI has made significant investments in technology and digital banking, offering services like video KYC for account opening and comprehensive internet banking facilities. The bank has also established a strong international presence with offices in several countries.
| Feature | Details |
|---|---|
| Established | September 7, 1906 |
| Headquarters | Mumbai, Maharashtra |
| Branches | 5,139 |
| ATMs | 5,551 |
| Customer Care | 1800 103 1906 |
5. Canara Bank
Canara Bank, founded in 1906 by Shri Ammembal Subba Rao Pai, has its headquarters in Bengaluru, Karnataka. The bank has experienced remarkable growth since its nationalization in 1969 and has established itself as one of the premier public sector banks in India.
With over 9,700 branches and 13,400 ATMs, Canara Bank has one of the largest branch networks among public sector banks. The bank serves over 80 million customers and has total business exceeding ₹15 lakh crores.
Canara Bank is particularly known for its strong presence in South India and has been actively involved in financial inclusion initiatives. The bank offers comprehensive banking services including retail banking, corporate banking, agricultural finance, and international banking operations.
| Feature | Details |
|---|---|
| Established | July 1, 1906 |
| Headquarters | Bengaluru, Karnataka |
| Branches | 9,723 |
| ATMs | 13,423 |
| Customer Care | 1800 425 0018 |
6. Union Bank of India
Union Bank of India, established in 1919, is one of the prominent public sector banks with headquarters in Mumbai. The government of India holds approximately 83.5% stake in the bank, making it a truly government-owned institution.
The bank operates through over 8,400 branches and 9,300 ATMs across India. Union Bank was one of the first major government banks to fully implement core banking solutions, demonstrating its commitment to technological advancement.
Union Bank offers specialized products like the Nari Shakti scheme for women entrepreneurs and various MSME lending programs. The bank has received numerous awards for its innovation in banking services and contribution to financial inclusion.
| Feature | Details |
|---|---|
| Established | November 11, 1919 |
| Headquarters | Mumbai, Maharashtra |
| Branches | 8,473 |
| ATMs | 9,342 |
| Customer Care | 1800 208 2244 |
7. Indian Bank
Indian Bank, established in 1907, is one of the major public sector banks with its headquarters in Chennai, Tamil Nadu. The bank started with a modest capital of ₹20 lakh and has grown significantly over the decades to achieve a global business of over ₹12 lakh crores.
The bank operates through nearly 6,000 branches and has a strong presence in South India. Indian Bank is known for its focus on technology and digital banking solutions, including being one of the early adopters of Central Bank Digital Currency (CBDC).
Indian Bank has been actively involved in supporting government schemes and financial inclusion initiatives. The bank offers a comprehensive range of banking products and has established a reputation for reliable customer service.
| Feature | Details |
|---|---|
| Established | August 15, 1907 |
| Headquarters | Chennai, Tamil Nadu |
| Branches | 5,847 |
| ATMs | 4,937 |
| Customer Care | 1800 4250 0000 |
Features of Best Government Banks in India
Government banks in India offer numerous advantages and features that make them attractive to customers across different segments. These public sector banks have built their reputation on reliability, extensive reach, and government backing, which provides additional security to depositors.
The primary features that distinguish government banks include their comprehensive branch networks, affordable banking services, and strong regulatory oversight. These institutions prioritize financial inclusion and serve as catalysts for economic development in both urban and rural areas.
Government banks provide a wide array of banking products and services designed to meet diverse customer needs. From basic savings accounts to complex corporate financing solutions, these banks offer competitive rates and terms backed by government guarantee.
Digital transformation has been a key focus for government banks, with most institutions now offering mobile banking, internet banking, and digital payment solutions. This technological advancement has made banking more accessible and convenient for customers.
These banks play a crucial role in implementing government welfare schemes and financial inclusion programs. They serve as primary channels for direct benefit transfers, subsidy distributions, and various social security payments.
Government banks maintain strong capital adequacy ratios and follow strict regulatory guidelines set by the Reserve Bank of India. This ensures financial stability and builds customer confidence in their banking operations.
Customer support and grievance redressal mechanisms are well-established in government banks, with multiple channels available for addressing customer concerns. These banks prioritize customer satisfaction and maintain transparent communication.
The extensive ATM networks and banking correspondent models used by government banks ensure that banking services reach remote areas where traditional banking infrastructure may be limited. This approach supports the government's vision of inclusive banking.
Government banks offer specialized lending programs for different sectors including agriculture, small businesses, education, and housing. These targeted lending initiatives support economic growth and provide opportunities for various segments of society.
Government banks in India Related FAQs
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Conclusion
Government banks in India continue to serve as the cornerstone of the nation's financial system, providing essential banking services to millions of citizens while supporting economic development and financial inclusion initiatives across the country.
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