National Bank List in India

National bank list in India, there are currently 12 banks nationalised in India, their name are PNB, SBI, Central Bank of India, Canara Bank, UCO Bank, Union Bank of India, Indian Overseas Bank, Bank of Maharashtra and Bank of Baroda

National Bank List in India : The nationalized banks are those banks that were ones owned by the private players but due to the financial or socio-economic exigencies, the ownership was acquired by the government. In more technical terms Nationalised Banks have such an ownership structure where the government is the majority shareholder i.e. >50%.  The list of nationalized banks is important for competitive exams from a question perspective and is also relevant for banking aspirants who wish to join one of the Government banks.

They are the public sector assets that are owned or managed by the state or central government. Nationalized banks came into occurrence when previously the banks that came under private sector banks were shifted to the public sector by the act of nationalization. Post-independence, the government of India took numerous steps to improve the country’s economic development, and one of the major steps they took was establishing RBI in April 1935. Later in 1948, under the terms of the RBI Act, they gave notice to nationalized the banks and then in 1949. National Bank List in India is given below.

National Bank List in India

National Bank List in India is given below.

Nationalized BanksHeadquarterTag Line
1. Punjab National Bank ( With the merger of Oriental Bank Of Commerce and United Bank Of India)New DelhiThe name you can Bank Upon
2. Indian Bank( With Merger of Allahabad Bank)ChennaiYour Tech-friendly bank
3. State Bank of IndiaMumbaiWith you all the way, Pure Banking Nothing Else, The Nation’s banks on us
4. Canara Bank( With Merger Of Syndicate Bank)BangaloreTogether we can
5. Union Bank of India( With Merger Of Andhra Bank and Corporation Bank)MumbaiGood people to bank with
6. Indian Overseas bankChennaiGood people to grow with
7. UCO BankKolkataHonors Your Trust
8. Bank of MaharashtraPuneOne Family One Bank
9. Punjab and Sind BankRajendra Place, New DelhiWhere Service Is A Way Of Life
10. Bank of IndiaMumbaiRelationships beyond Banking
11. Central Bank of IndiaMumbaiCentral To you Since 1911, Build A Better Life Around Us
12. Bank of BarodaGujaratIndia’s International Bank
National Bank List in India

Check RBI Banks List at below link.

Reasons for the Nationalization of Banks

  • For Social Welfare
  • For Developing Banking Habits
  • For Expansion of Banking Sector
  • For Controlling Private Monopolies
  • To Reduce Regional Imbalance
  • For Prioritizing Sector Lending

Read : List of Government Banks in India | 12 Public Sector Banks