Top 10 Largest Banks in India
Introduction of Banks
These are financial institutions that help in lending and deposits. Various types of banks are there for multiple functions in the country.
1. Commercial Banks
2. Central Banks
3. Cooperative Banks
4. Regional Rural Banks
5. Local Area Banks
6. Small Finance Banks
7. Payments Banks
8. Specialized Banks
Commercial Banks
Commercial Bank is a financial institution that accepts offerings, deposits, various types of loans, check offerings, and basic financial services like savings account for individuals and small businesses and many more.
There are three types of commercial banks:
1. Public Sector Bank- In this type of banking system, most of the stakes are owned by the Government or the central bank.
2. Private sector Banks- In this type of banking system, most of the stakes are owned by the individual or group of people.
3. Foreign Banks- In this banking system, the bank’s headquarters is in a foreign country, but the branches are in our own country.
10 Largest Banks In India
1. HDFC Bank
Housing Development Finance Corporation (HDFC) is one of the biggest private sector-based banking and real estate banks, and This bank ranks first in our list of the Top Ten Banks in India. Pandemic in March 2020 proves to be the largest bank in India, offering products and services such as central banks, retail banking, credit cards, lifestyle loans, and other types of loans as digital products and services.
Also, check the full form of IDBI BANK
2. State Bank of India (SBI)
The State Bank of India (SBI) is the largest public sector bank in India. This Indian bank is based in Mumbai (Maharashtra) and is ranked 221st on the Fortune Global 500 list. By market level, SBI is India’s second-largest bank. As of 2022, its market capitalization is Rs. 2,60,331 crores.
3. ICICI Bank
ICICI Bank enjoys an excellent overseas presence with its subsidiaries throughout Canada and the United Kingdom. The bank also boasts branches in China, Hong Kong, the United States of America, South Africa, Singapore, Bahrain, and Oman, with headquarters in the UAE, Malaysia, Indonesia, Bangladesh, and many other areas.
4. Kotak Mahindra Bank
Located in Mumbai, India, Kotak Mahindra Bank Limited and a financial services company. As of November 2021, it has been the third-largest bank in terms of assets and market capitalization in India. Services include personal finance, investment banking, and asset management for corporate and retail customers.
5. Axis Bank
Axis Bank is the fourth largest bank in India. The bank provides all kinds of financial services to customer segments including Large and Mid-Corporates, MSME, Agriculture, and retail businesses. The Bank operates in four divisions, namely treasurer, retail bank, corporate bank/wholesale, and other banking enterprises.
6. IndusInd Bank
IndusInd Bank Ltd is an independent Indian bank operating in Mumbai. S.P. found it in 1994. Hinduja and her son Ashok Hinduja. The bank is the result of a merger of The IndusInd Bank Ltd with The Hinduja Bank Ltd. IndusInd Bank is one of the first banks to get “mental” approval from the Reserve Bank of India (RBI) to start a banking business.
Also, check the Full form of IDBI
7. Bank of Baroda
Baroda Bank, also known as Bob, is another public sector bank that enjoys a position among the top 10 banks in India 2022 with a market capitalization of Rs. 35,251.50 crores. Headquartered in Vadodra, the bank gained unprecedented popularity in April 2019, with the first merger of 3 ways, with Dena Bank and Vijaya Bank. Bank of Baroda is only Known for 111.5% Small Inventory Assets, the bank boasts an amazing base of over 12 million customers.
8. Punjab National Bank
India’s national bank, Punjab National Bank is abbreviated as PNB. Part of the Ministry of Finance is under the Indian government and headquartered in New Delhi, India. With business and network value in excess of $ 1 billion, the bank was established in 1894 and is the second-largest state bank in India. In addition to 180 million customers, the bank has more than 12,248 branches and 13,000+ ATMs.
9. Yes Bank
Yes, Bank is one of the fastest-growing private banks in India with a market capitalization of Rs. 34,575 crores. Rana Kapoor and Ashok Kapur founded it in 2004. The company has operations for commercial banks and asset management. It has an income of Rs. 20,039 crores with a capacity of more than 23,800 workers.
Also, Check the List of all Bank Holidays in August 2022
10. Bank of India
Bank of India (BOI) is an Indian state bank owned by the Ministry of Finance, Government of India headquartered in Bandra Kurla Complex, Mumbai. It was founded in 1906 and has been in the state since its inception in 1969.
The Bank of India has 5,316 branches as of 31 March 2019, which includes 56 offices outside India, comprising five sub-companies, five representative offices, and one joint venture.
