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Indian Public Sector Banks

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Indian Public Sector Banks

Indian Public Sector Banks

shape Introduction

A Bank is a Financial Institution that accepts deposits (in the form of cash/ online transfers), creates credit on the deposits and lends money to the borrowers at a specified rate of interest. Indian Public Sector Banks are those banks whose majority stake (>50%) is held by the Government of India. The shares of these Indian Public Sector Banks are listed on stock exchanges. Indian Public Sector Banks knowledge is important for Banking Awareness section of different competitive exams conducted in India.


shape Indian PSB's

Public Sector Banks hold a crucial role in the financial stability and development of our country. Soon after independence, as India embarked upon planned economic growth, like any other country, it needed a strong and efficient financial system to meet the multifarious requirements of credit and development. To achieve this objective it adopted a mixed pattern of economic development and devised a financial system to support such development. Nationalisation around the year 1969 saw emergence of Public Sector Banks, this emergence was quiet impressive in terms of presence and penetration of banking system across the society.

Profitable performance recorded by most of the Public Sector Banks and more so the turnaround in profitability achieved by quite a few Public Sector Banks, goes to show that fulfilment of social objectives and profitability can and, in fact, need to go hand in hand.

These are 21 PSB’s in India along with 1 state-owned Payments Bank in India. This article provides:

  • List of 21 PSB’s in India.
  • Year of Establishment of 21 PSB’s in India.
  • Headquarters of 21 PSB’s in India.
  • Taglines/ Bank Slogans of 21 PSB’s in India.
  • Tips to remember the list.


S.No. Bank Founded In Headquarters Tagline
1 Andhra Bank 1923 Hyderabad “Where India Banks”
2 Allahabad Bank 1865 Kolkata “A tradition of trust”
3 Bank of India 1906 Mumbai “Relationships beyond banking”
4 Bank of Baroda 1908 Vadodara “India’s International Bank”
5 Bank of Maharashtra 1935 Pune “One Family one bank”
6 Corporation Bank 1906 Bangalore “A premier public sector bank”
7 Canara Bank 1906 Bangalore “Together we can”
8 Central Bank of India 1911 Mumbai “Central to you since 1911″
9 Dena Bank 1938 Mumbai “Trusted family bank”
10 IDBI B ank 1964 Mumbai “Banking for all”“Aao sochein bada”
11 Indian Overseas Bank 1937 Chennai “Good people to grow with”
12 Indian Bank 1907 Chennai “Your Tech friendly bank”
13 Oriental Bank of Commerce 1943 New Delhi “Where every individual is committed”
14 Punjab National Bank 1894 New Delhi “The bank you can bank upon”
15 Punjab and Sindh Bank 1908 New Delhi “Where service is a way of life”
16 State Bank Of India 1955 Mumbai “With you all the way” ”Pure banking Nothing else” “The nation’s banks on us”
17 Syndicate Bank 1925 Manipal “Your Faithful And Friendly Financial Partner”
18 UCO Bank 1943 Kolkata “Honors your trust”
19 United Bank of India 1950 Kolkata “The Bank that begins with ‘U’”
20 Union Bank of India 1919 Mumbai “Good People to Bank with”
21 Vijaya Bank 1931 Bangalore “A friend you can bank on”


shape Objectives

The Information about different Indian Public Sector Banks(PSB’s) is important for:

  1. General/Banking Awareness Section of different competitive exams in india. static GK Section in different competitive exams.
  2. Setting up the Preferences list while picking the banks, that the aspirants wish to work for.
  3. Taglines of different banks are a representative of the work culture/ service nature of a bank. so, aspirants can decide on a choice of bank either for employment/services based on the Taglines.
  4. Interview questions particularly Banking sector.
  5. Aspirants can select based on the service provided by the Bank.


shape Tips

Shortcut Tricks to Remember Banks. With 21 different Banks, & Headquarters in different places, it is sometimes difficult to recollect the learnt information. Below are few tips to easily remember about Banking.

#Tip – 1:- All banks that have ‘India’ toward the finish of their name have their Headquarters in Mumbai.

Examples:

  1. State Bank of ‘India’- Headquarters is in Mumbai.
  2. Bank of ‘India’- Headquarters is in Mumbai.
  3. Central Bank of ‘India’- Headquarters is in Mumbai.
  4. Union Bank of ‘India’- Headquarters is in Mumbai.
  5. Reserve Bank of ‘India’- Headquarters is in Mumbai.


#Tip – 2:- “In Delhi, Punjabi young ladies exceed expectations in Commerce!” This is memory aide to recall which banks have central station in Delhi.

Examples:

  1. Punjab National Bank – Headquarters is in New Delhi (punjabi)
  2. Punjab & Sind bank – Headquarters is in New Delhi (punjabi)
  3. Oriental Bank of Commerce – Headquarters is in New Delhi (commerce)
  4. Bhartiya Mahila Bank – Headquarters is in New Delhi (girls)


#Tip – 3:-All the Banks whose names start with ‘Indian‘ have their Headquarters in Chennai.

Examples:

  1. Indian Bank – Headquarters is in Chennai.
  2. Indian Overseas Bank – Headquarters is in Chennai.


#Tip – 4:-Banks that begin with ‘U’ have their base camp in Kolkata.

Examples:

  1. UCO Bank – Headquarters is in Kolkata.
  2. United Bank of India – Headquarters is in Kolkata.



#Tip – 5:-Those banks that have South Indian names have their central station in Bangalore. Indeed, there are just two Banks with South Indian Names.

Examples:

  1. Canara Bank – Headquarters is in Bangalore. PS: Canara means Coastal Karnataka region
  2. Vijaya Bank – Headquarters is in Bangalore.


#Tip – 6:-Easy to recollect central command of some Indian Banks as the name itself is self explanatory.

Examples:

  1. Bank of Baroda – Baroda
  2. Bank of Maharashtra – Pune
  3. Andhra Bank – Hyderabad


#Tip – 7:- Now, there are two remaining banks that you need to remember. They are Syndicate Bank and Corporation Bank. Two Banks which have unique Headquarters.

Examples:

  1. Syndicate Bank – Manipal (Trick: This rhymes with Sikkim Manipal)
  2. Corporation Bank – Mangalore