{"id":73074,"date":"2025-04-10T16:11:35","date_gmt":"2025-04-10T10:41:35","guid":{"rendered":"https:\/\/leverageedu.com\/learn\/?p=73074"},"modified":"2025-04-10T16:11:35","modified_gmt":"2025-04-10T10:41:35","slug":"nationalised-banks-in-india-finance","status":"publish","type":"post","link":"https:\/\/leverageedu.com\/learn\/nationalised-banks-in-india-finance\/","title":{"rendered":"12 Nationalised Banks in India: List, Interesting Facts"},"content":{"rendered":"\n<p>Ever wondered why many of us still prefer nationalised banks in Indian like SBI and PNB over new-age private banks? Well, it\u2019s not just a habit; it\u2019s trust, legacy, and a little history. These nationalised banks have been the backbone of India\u2019s financial system since independence.<\/p>\n\n\n\n<p>In this blog, let\u2019s dive into what nationalised banks are, why they matter, and what the complete list looks like in 2025. Whether you&#8217;re planning to open your first bank account or apply for an education loan, this guide will help you understand the role of nationalised banks in India.<\/p>\n\n\n\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\"><h2 id=\"table-of-contents\">Table of contents<\/h2><ul><li><a href=\"#h-what-are-nationalised-banks\" data-level=\"2\">What are Nationalised Banks?<\/a><\/li><li><a href=\"#h-list-of-nationalised-banks-in-india-2025-updated\" data-level=\"2\">List of Nationalised Banks in India (2025 Updated)<\/a><\/li><li><a href=\"#h-history-of-nationalised-banks-in-india\" data-level=\"2\">History of Nationalised Banks in India<\/a><\/li><li><a href=\"#h-recent-bank-mergers-in-india-then-vs-now\" data-level=\"2\">Recent Bank Mergers in India: Then vs Now<\/a><\/li><li><a href=\"#h-interesting-facts-about-nationalised-banks\" data-level=\"2\">Interesting Facts About Nationalised Banks<\/a><\/li><li><a href=\"#h-faqs\" data-level=\"2\">FAQs<\/a><\/li><\/ul><\/div>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-are-nationalised-banks\"><span id=\"what-are-nationalised-banks\">What are Nationalised Banks?<\/span><\/h2>\n\n\n\n<p>Nationalised banks are banks that were taken over by the government to ensure wider financial inclusion and stability. These are also called Public Sector Banks (PSBs).&nbsp;<\/p>\n\n\n\n<p>In these banks, the majority stake (more than 50%) is held by the Government of India.<\/p>\n\n\n\n<p>Nationalised banks in India operate under the supervision of the Ministry of Finance and follow guidelines issued by the Reserve Bank of India (RBI).<\/p>\n\n\n\n<p><strong>Key differences between Nationalised and Private Banks:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Feature<\/strong><\/td><td><strong>Nationalised Banks<\/strong><\/td><td><strong>Private Banks<\/strong><\/td><\/tr><tr><td><strong>Ownership<\/strong><\/td><td>Government-owned<\/td><td>Privately owned<\/td><\/tr><tr><td><strong>Reach<\/strong><\/td><td>Extensive in rural areas<\/td><td>Mostly urban-centric<\/td><\/tr><tr><td><strong>Loan Interest Rates<\/strong><\/td><td>Generally lower<\/td><td>Comparatively higher<\/td><\/tr><tr><td><strong>Customer Service<\/strong><\/td><td>Functional, may be slower<\/td><td>Tech-driven, faster<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-list-of-nationalised-banks-in-india-2025-updated\"><span id=\"list-of-nationalised-banks-in-india-2025-updated\">List of Nationalised Banks in India (2025 Updated)<\/span><\/h2>\n\n\n\n<p>As of 2025, India has 12 nationalised banks. These banks were formed after multiple mergers to strengthen the banking system, also offering some of the <a href=\"https:\/\/leverageedu.com\/discover\/indian-education-loans\/best-saving-account-for-students\/\"><strong>best savings accounts for students<\/strong><\/a>.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Bank Name<\/strong><\/td><td><strong>Year of Nationalisation<\/strong><\/td><td><strong>Headquartered in<\/strong><\/td><\/tr><tr><td><strong>State Bank of India (SBI)*<\/strong><\/td><td>1955 (as Imperial Bank)<\/td><td>Mumbai<\/td><\/tr><tr><td><strong>Punjab National Bank (PNB)<\/strong><\/td><td>1969<\/td><td>New Delhi<\/td><\/tr><tr><td><strong>Bank of Baroda (BoB)<\/strong><\/td><td>1969<\/td><td>Vadodara<\/td><\/tr><tr><td><strong>Canara Bank<\/strong><\/td><td>1969<\/td><td>Bengaluru<\/td><\/tr><tr><td><strong>Union Bank of India<\/strong><\/td><td>1969<\/td><td>Mumbai<\/td><\/tr><tr><td><strong>Indian Bank<\/strong><\/td><td>1969<\/td><td>Chennai<\/td><\/tr><tr><td><strong>Indian Overseas Bank (IOB)<\/strong><\/td><td>1969<\/td><td>Chennai<\/td><\/tr><tr><td><strong>UCO Bank<\/strong><\/td><td>1969<\/td><td>Kolkata<\/td><\/tr><tr><td><strong>Bank of Maharashtra<\/strong><\/td><td>1969<\/td><td>Pune<\/td><\/tr><tr><td><strong>Central Bank of India<\/strong><\/td><td>1969<\/td><td>Mumbai<\/td><\/tr><tr><td><strong>Punjab &amp; Sind Bank<\/strong><\/td><td>1980<\/td><td>New Delhi<\/td><\/tr><tr><td><strong>Bank of India<\/strong><\/td><td>1969<\/td><td>Mumbai<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>*SBI is not included in the 1969\/1980 nationalisation waves. It was nationalised earlier in 1955.<\/p>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <\/strong><strong>Banking Full Forms List<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-history-of-nationalised-banks-in-india\"><span id=\"history-of-nationalised-banks-in-india\">History of Nationalised Banks in India<\/span><\/h2>\n\n\n\n<p>The journey of bank nationalisation in India is a significant chapter in the country\u2019s economic development.&nbsp;<\/p>\n\n\n\n<p>It was driven by the vision of ensuring financial inclusion, reducing regional disparities, and extending banking services to the unbanked population, especially in rural and semi-urban areas.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1955: The Beginning \u2013 Formation of the State Bank of India (SBI)<\/strong><\/p>\n\n\n\n<p>The first major step toward nationalisation was taken in <strong>1955<\/strong>, when the <strong>Imperial Bank of India<\/strong> was nationalised and restructured to form the <strong>State Bank of India (SBI)<\/strong>, making it one of the first nationalised banks in India.<\/p>\n\n\n\n<p>The move was aimed at creating a state-partnered banking institution that could lead the way in providing financial services to the common people.&nbsp;<\/p>\n\n\n\n<p>SBI was tasked with expanding the banking network to rural and underdeveloped regions and financing agriculture, small industries, and exports.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1969: Nationalisation of 14 Major Banks<\/strong><\/p>\n\n\n\n<p>A landmark moment came in <strong>1969<\/strong>, under the leadership of then Prime Minister <strong>Indira Gandhi<\/strong>. The government nationalised <strong>14 major commercial banks<\/strong>, each with deposits over INR 50 crore.&nbsp;<\/p>\n\n\n\n<p>This decision was taken to align the banking sector with the goals of economic planning and development. The move was intended to:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Spread banking infrastructure in rural areas.<\/li>\n\n\n\n<li>Ensure that credit is available to priority sectors like agriculture, small-scale industries, and self-employed individuals.<\/li>\n\n\n\n<li>Curtail the concentration of economic power in the hands of a few industrialists.<\/li>\n<\/ul>\n\n\n\n<p>This phase marked a massive expansion of bank branches, particularly in remote and rural areas, offering <a href=\"https:\/\/leverageedu.com\/discover\/indian-education-loans\/banks-giving-education-loan-in-india\/\"><strong>education loans in India<\/strong><\/a> to those in need of financial assistance.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><strong>1980: Second Phase of Nationalisation<\/strong><\/p>\n\n\n\n<p>In <strong>1980<\/strong>, the government carried out another round of nationalisation, bringing <strong>6 more private banks<\/strong> under its control.&nbsp;<\/p>\n\n\n\n<p>With this, around <strong>91% of the banking business<\/strong> in India came under government ownership. The objective remained the same: deeper financial penetration, equitable credit distribution, and support to sectors ignored by private banks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-recent-bank-mergers-in-india-then-vs-now\"><span id=\"recent-bank-mergers-in-india-then-vs-now\">Recent Bank Mergers in India: Then vs Now<\/span><\/h2>\n\n\n\n<p>To create stronger, more efficient, and globally competitive banks, the Government of India initiated a major consolidation drive in the public sector banking space.&nbsp;<\/p>\n\n\n\n<p>The goal was to reduce fragmentation, improve operational efficiency, and strengthen the capital base of public sector banks.<\/p>\n\n\n\n<p>These mergers were not just about reducing the number of banks but about creating <strong>\u201cnext-generation\u201d banks<\/strong> with a larger geographical reach, better digital infrastructure, and the ability to support India\u2019s growing economy.<\/p>\n\n\n\n<p>Here\u2019s a detailed look at the major mergers:<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-fixed-layout\"><tbody><tr><td><strong>Pre-Merger Banks<\/strong><\/td><td><strong>Post-Merger Entity<\/strong><\/td><\/tr><tr><td>Allahabad Bank + Indian Bank<\/td><td>Indian Bank<\/td><\/tr><tr><td>Oriental Bank of Commerce + United Bank of India + PNB<\/td><td>Punjab National Bank (PNB)<\/td><\/tr><tr><td>Andhra Bank + Corporation Bank + Union Bank of India<\/td><td>Union Bank of India<\/td><\/tr><tr><td>Syndicate Bank + Canara Bank<\/td><td>Canara Bank<\/td><\/tr><tr><td>Dena Bank + Vijaya Bank + Bank of Baroda<\/td><td>Bank of Baroda (BoB)<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p class=\"has-pale-ocean-gradient-background has-background\"><strong>Also Read: <\/strong><a href=\"https:\/\/leverageedu.com\/learn\/career-abroad-banking-jobs\/\"><strong>Highest Paying Banking Jobs Abroad<\/strong><\/a><strong> in 2025<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-interesting-facts-about-nationalised-banks\"><span id=\"interesting-facts-about-nationalised-banks\">Interesting Facts About Nationalised Banks<\/span><\/h2>\n\n\n\n<p>Nationalised banks have played a crucial role in India\u2019s economic development by promoting financial inclusion, supporting priority sectors, and maintaining trust among the masses. Beyond their services, these banks have some fascinating milestones worth knowing.<\/p>\n\n\n\n<p>Check out some of the interesting facts about nationalised banks in India<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>SBI handles over 22% of the total banking market in India.<\/li>\n\n\n\n<li>Bank of Baroda was the first Indian bank to set up an international branch (in 1953).<\/li>\n\n\n\n<li>Punjab National Bank was founded in Lahore in 1894 and was the first Swadeshi bank.<\/li>\n\n\n\n<li>Most government scholarships and subsidies are disbursed through nationalised banks.<\/li>\n\n\n\n<li>Canara Bank was the first to launch an exclusive branch for women in 2001.<\/li>\n\n\n\n<li>Indian Bank was the first public sector bank to introduce a digital village initiative.<\/li>\n<\/ul>\n\n\n\n<p>To sum up, nationalised banks have played a huge role in building India\u2019s economy from the ground up. From funding small businesses to offering education loans to students, their services impact millions of lives every day.<\/p>\n\n\n\n<p>If you\u2019re planning to study abroad or apply for an education loan, exploring nationalised banks could be a smart and secure choice.<\/p>\n\n\n\n<p>Stay informed. Stay financially wise. Check out the FAQs below for more information.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-faqs\"><span id=\"faqs\">FAQs<\/span><\/h2>\n\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1744281154389\"><strong class=\"schema-faq-question\">How many nationalised banks are there in India in 2025?<\/strong> <p class=\"schema-faq-answer\">There are 12 nationalised banks as of 2025. These are-<br\/>SBI, PNB, Bank of Baroda, Canara Bank, Union Bank, Indian Bank, Indian Overseas Bank, UCO Bank, Bank of Maharashtra, Central Bank of India, Punjab &amp; Sind Bank, and Bank of India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281155725\"><strong class=\"schema-faq-question\">Which is the first nationalised bank in India?<\/strong> <p class=\"schema-faq-answer\">State Bank of India, nationalised in 1955, was the first nationalised bank in India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281156256\"><strong class=\"schema-faq-question\">Which bank is 100% Government-owned?<\/strong> <p class=\"schema-faq-answer\">Banks like Punjab &amp; Sind Bank and Central Bank of India are currently 100% government-owned.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281156568\"><strong class=\"schema-faq-question\">Is HDFC Bank nationalised?<\/strong> <p class=\"schema-faq-answer\">No, HDFC Bank is a private sector bank. It was established in 1994 as a private banking company. It is one of India&#8217;s largest private banks but is not owned or managed by the Government of India.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281157067\"><strong class=\"schema-faq-question\">Is Bank of Maharashtra a nationalised bank?<\/strong> <p class=\"schema-faq-answer\">Yes, Bank of Maharashtra is a nationalised bank. It was taken over by the Government of India during the nationalisation wave in 1969 and has remained a public sector bank since then.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281157631\"><strong class=\"schema-faq-question\">Is Kotak Bank nationalised?<\/strong> <p class=\"schema-faq-answer\">No, Kotak Mahindra Bank is a private-sector bank. It was the first non-banking financial company in India to receive a banking license from the RBI in 2003. It is not government-owned.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281290760\"><strong class=\"schema-faq-question\">Are nationalised banks and public banks the same?<\/strong> <p class=\"schema-faq-answer\">Yes, in India, the terms &#8220;nationalised banks&#8221; and &#8220;public sector banks&#8221; are used interchangeably.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1744281314122\"><strong class=\"schema-faq-question\">What is the difference between nationalised and government banks?<\/strong> <p class=\"schema-faq-answer\">There is no major difference. Nationalised banks are also referred to as government or public sector banks.<\/p> <\/div> <\/div>\n\n\n\n<p>Evaluate all <a href=\"https:\/\/leverageedu.com\/\"><strong>study abroad<\/strong><\/a> options with Leverage Edu. Stay tuned with <a href=\"https:\/\/live.leverageedu.com\/\"><strong>Leverage Live<\/strong> <\/a>classes and realise your dream of studying in your dream country.<\/p>\n\n\n\n<figure class=\"wp-block-table is-style-stripes\"><table class=\"has-pale-ocean-gradient-background has-background has-fixed-layout\"><tbody><tr><td colspan=\"2\"><strong>Related Blogs<\/strong><\/td><\/tr><tr><td><strong>Options For Masters Degree Funding<\/strong><\/td><td><strong>Education Loans for Abroad Studies<\/strong><\/td><\/tr><tr><td><strong>Education Loan without Collateral<\/strong><\/td><td><strong>Everything About Education Loan for MS<\/strong><\/td><\/tr><tr><td><strong>Student Loan- Refinance\/Consolidation<\/strong><\/td><td><a href=\"https:\/\/leverageedu.com\/blog\/types-of-education-loan\/\"><strong>Types of Education Loan for Indian Students<\/strong><\/a><\/td><\/tr><tr><td><strong>Education Loan in Canada<\/strong><\/td><td><strong>Loans to Study Abroad<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n","protected":false},"excerpt":{"rendered":"Ever wondered why many of us still prefer nationalised banks in Indian like SBI and PNB over new-age&hellip;\n","protected":false},"author":14,"featured_media":73075,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"editor_notices":[],"footnotes":""},"categories":[22],"tags":[],"class_list":{"0":"post-73074","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.3 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>12 Nationalised Banks in India: List, Interesting Facts<\/title>\n<meta name=\"description\" content=\"Learn about nationalised banks in India and their importance. 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It was established in 1994 as a private banking company. It is one of India's largest private banks but is not owned or managed by the Government of India.","inLanguage":"en-US"},"inLanguage":"en-US"},{"@type":"Question","@id":"https:\/\/leverageedu.com\/learn\/nationalised-banks-in-india-finance\/#faq-question-1744281157067","position":5,"url":"https:\/\/leverageedu.com\/learn\/nationalised-banks-in-india-finance\/#faq-question-1744281157067","name":"Is Bank of Maharashtra a nationalised bank?","answerCount":1,"acceptedAnswer":{"@type":"Answer","text":"Yes, Bank of Maharashtra is a nationalised bank. 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