Question
Download Solution PDFIn 2022, how many public sector banks in India?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is 12.
Key Points
- The Indian banking system consists of 12 public sector banks, 22 private sector banks, 44 foreign banks, 56 regional rural banks, 1,485 urban cooperative banks, and 96,000 rural cooperative banks in addition to cooperative credit institutions.
- India has come down from 27 public sector banks in 2017 to 12 in 2020.
- Following is the list of 12 public sector banks according to the Department of Financial Services of India :
- Bank of Baroda
- bank of India
- bank of Maharashtra
- Canara bank
- the central bank of India
- Indian bank
- Indian overseas bank
- Punjab national bank
- Punjab and Sindh bank
- Union Bank of India
- UCO bank
- State bank of India
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