Scheduled Commercial Banks in India
The scheduled commercial banks are those banks which are included in the second schedule of RBI Act 1934 and which carry out the normal business of banking such as accepting deposits, giving out loans and other banking services. The major difference between Scheduled Commercial Banks and Scheduled Cooperative Banks is their holding pattern, since cooperatives are registered under the Cooperative Societies Act as cooperative credit institutions.
Scheduled Commercial Banks can be further divided into four groups:
- Public Sector Banks: This includes:
- SBI & Associates
- Nationalized Banks
- Other Public Sector Banks
- Private Banks
- Foreign Banks
- Regional Rural Banks
Scheduled Commercial Banks (Public Sector)
At present, there are 27 Public Sector Banks in India including SBI (plus its 5 associates) and 19 nationalized banks. Further, there are two banks which have been categorized by RBI as “Other Public Sector Banks”. IDBI and Bhartiya Mahila Bank come under this category.
SBI & Associates
State Bank of India with its around 17,000 branches and around 200 foreign offices, is India’s largest banking and financial services company by assets. With over 2 lakh employees, SBI is banker to millions of Indians. This bank got birth in the British Era. Its first parents were three presidency banks viz. Bank of Calcutta (later Bank of Bengal), Bank of Bombay and the Bank of Madras. In 1921, these three presidency banks were merged in one entity called “Imperial Bank of India”. The Imperial Bank of India was nationalized in 1955 and was renamed a State Bank of India. Thus, State bank of India is the oldest Bank of India.
In 1959, there were eight associates of SBI. The current five associate banks of SBI are:
- State Bank of Bikaner & Jaipur
- State Bank of Hyderabad
- State Bank of Mysore
- State Bank of Patiala
- State Bank of Travancore
Apart from the above, the SBI also has seven non-banking subsidiaries viz. SBI Capital Markets Ltd, SBI Funds Management Pvt Ltd, SBI Factors & Commercial Services Pvt Ltd, SBI Cards & Payments Services Pvt. Ltd. (SBICPSL), SBI DFHI Ltd, SBI Life Insurance Company Limited and SBI General Insurance.
Nationalized Banks
There are 19 nationalized banks in India as follows:
[one_half]
- Allahabad Bank
- Andhra Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- Indian Bank
- Indian Overseas Bank
- Oriental Bank of Commerce
- Punjab & Sind Bank
- Punjab National Bank
- Syndicate Bank
- UCO Bank
- Union Bank of India
- United Bank of India
- Vijaya Bank
Other Public Sector Banks
Further, there are two scheduled commercial banks in India, which have been classified as “other Public Sector Banks”. These are
- IDBI
- Bhartiya Mahila Bank.
Scheduled Commercial Banks (Private Banks)
In private sector banks, most of the capital is in private hands. There are two types of private sector banks in India viz. Old Private Sector Banks and New Private Sector Banks.
Old Private Banks
There are 13 old private sector banks as follows:
[one_half]- Catholic Syrian Bank
- City Union Bank
- Dhanlaxmi Bank
- Federal Bank
- ING Vysya Bank
- Jammu and Kashmir Bank
- Karnataka Bank
- Karur Vysya Bank
- Lakshmi Vilas Bank
- Nainital Bank
- Ratnakar Bank
- South Indian Bank
- Tamilnad Mercantile Bank
Out of the above banks, the Nainital Bank is a subsidiary of the Bank of Baroda, which has 98.57% stake in it. Some other old generation private sector banks in India have merged with other banks. For example, Lord Krishna Bank merged with Centurion Bank of Punjab in 2007; Sangli Bank merged with ICICI Bank in 2006; Centurion Bank of Punjab merged with HDFC in 2008.
New Private Sector Banks
The new private sector banks were incorporated as per the revised guidelines issued by the RBI regarding the entry of private sector banks in 1993. At present, there are seven new private sector banks as follows:
- Axis Bank
- Development Credit Bank (DCB Bank Ltd)
- HDFC Bank
- ICICI Bank
- IndusInd Bank
- Kotak Mahindra Bank
- Yes Bank
Apart from the above, there are two banks which are yet to commence operation. These have obtained ‘in-principle’ licenses from RBI. They are
- IDFC
- Bandhan Bank of Bandhan Financial Services.
Foreign Banks
As of December 2014, there are 43 foreign banks from 26 countries operating as branches in India and 46 banks from 22 countries operating as representative offices in India. Most of the foreign banks in India are niche players. RBI policy towards presence of foreign banks in India is based upon two cardinal principles viz. reciprocity and single mode of presence. more details about regulation of Foreign Banks by RBI, click here
Regional Rural Banks
Regional Rural Banks were started in 1970s due to the fact that even after nationalization, there were cultural issues which made it difficult for commercial banks, even under government ownership, to lend to farmers. Each RRB is owned by three entities with their respective shares as follows:
- Central Government → 50%
- State government → 15%
- Sponsor bank → 35%
They are regulated by NABARD. More information on RRBs is here.
neha_ishu
July 10, 2011 at 2:37 pmat present there are 19 nationalised banks
pooja
March 16, 2014 at 10:34 amcan u plz name them plzzz its my project
Sanjay
July 1, 2014 at 12:19 amSBI+7 SBI Associates bank + 20 +
=28 Nationalised Banks
Sanjay
July 1, 2014 at 12:24 amThe total nationalised banks was 28 before the merger of new bank of India in PNB(1993)…..now 27 nationalised banks(SBI + 7 SBI associates + 19)
hrishi
May 12, 2014 at 6:00 pmat present there are 26 nationalised banks.
Abhishek
June 28, 2014 at 2:17 amI see there is some confusion with terms. Hope it helps with this-
* There are 26 Public Sector Banks, which includes 19 Nationalised Banks, 1 SBI, 5 Subsidiaries of SBI and 1 IDBI.
Regards,
[email protected]
N. Durai
October 11, 2014 at 9:07 amGood morning madem..Whtever nationalized banks in current of india..listout plz.. And how is came 19 banks only,balance bank wher their merged..if u dont mind explain it madem.
Yuvraj
January 17, 2015 at 10:58 amWrong.. SBI has 5 associates, Total PSU banks are SBI+Asso 6, 19 nationalised banks, IDBI and BMB = 27…
State bank of indore and state bank of saurashtra were merged with SBI in 2010 and 2008 resp.
harshit_94
November 23, 2015 at 9:49 pmThere are 21 nationalized banks.On 19th July 1969, 14 banks were nationalized, then on 15th April 1980, 6 banks were nationalized out of which new bank of India was merged, remaining only 19 nationalized banks. Now 2 other public sector banks(IDBI and Bhartiya Mahila Bank) are also nationalized banks
vandana suman
August 17, 2011 at 10:35 amidbi is other gov bank,it is not nationalized as per my knowledge
muhammad Mujahid
January 5, 2015 at 2:20 pmVandana saman @Idbi bank is 60-40 private n govt in coming days it till convert totally in to govt sec
prabhakar
September 12, 2011 at 8:39 pmcould any body throw light on
if ac payee crossing cancelled cheque could be paid across the cash counter with crossing cancelled writing and properly signed???? does it lose the bearer status????? is it transferable???
paresh
September 13, 2011 at 3:06 pmwho can told me that prime co opratibe bank is scheduled bank
Mohit
October 21, 2011 at 9:38 pmur knowledge is too low my dear frnds
IDBI is nationalised now
pratzzz
May 24, 2014 at 2:33 pmur knowledge is not correct…
IDBI is goverment bank and its not nationalised..natinalisation had taken place only 2 tyms…
even SBI & its subsidaries are not nationalised
LENIN
October 23, 2011 at 5:34 pmDear Mohit and suman, IDBI is categorised under other public sector banks and nationalisation of banks completed in 1980 and also IDBI is never into private to go for nationalisation, only as a sister concern IDBI Bank is in private and was reverse merged with IDBI to form IDBI BANK with 65% Gov share
LENIN
October 23, 2011 at 5:39 pmDear Prabhakar, Cheque can be paid over counter and is in practice…
sweta
November 17, 2011 at 3:24 pmThere are 19 nationalised bank as per my knowlege
prathibha
November 23, 2011 at 3:19 pmMay i know whether DBS is Schedule bank are not?
jagbir singh
December 20, 2011 at 1:22 pmThe nanital bank limited is a sheduled bank or not ?
gautam.nmishra
February 9, 2012 at 12:00 pmi want to know the total no. of schedule bank in india?
Moloy Panja
May 26, 2014 at 4:28 pmPlease inform the list of schedule bank of India
SIMI.O.B
June 22, 2015 at 8:24 pmIs Gramin Bank scheduled or nationalised
skb44
February 22, 2012 at 12:05 amThe total no. of nationalised banks are 19 (the new bank of india merged with PNB in sept 1993)
shiv kumar
March 8, 2012 at 2:55 pmthis data are relevant with respect to 2nd IBPS cwe po exam…
rahul newar
March 20, 2012 at 10:40 pmcan aneone tell me how many non-schedule commercial bank operating in india?
G FRANCIS
March 22, 2012 at 11:12 amIs HDFC bank is Scheduled Bank?
prem
March 22, 2012 at 4:50 pmIs BNP Pasibas is a scheduled bank in India ?
lekharanavratan
March 26, 2012 at 11:46 pmnationalised banks are 20 or 19????
NEERAJ
April 2, 2012 at 10:39 pmplease send me study material material of financial awareness……
NEERAJ
April 2, 2012 at 10:40 pmplease send me the latest study material of financial awareness….
bikash
May 28, 2012 at 3:33 pmTo my knowledge,
There are 19 nationalised bank in India.
SBI groups and IDBI are public sector bank.
Note: All nationalised bank are public sector bank but all public sector bank are not nationalised bank.
vinod g
July 26, 2012 at 11:16 pmSBI is not found in the list of public sector banks, now the total will come 27 public sector banks
ramdas banoth
January 22, 2015 at 2:27 pmsbi is partially nationalised
ramdas banoth
January 22, 2015 at 2:29 pmsbi is partially nationalised.
share
people-33%
tata- 7.3%
govt-59.7%
Ankita
August 13, 2012 at 12:16 pmThe current Nationalized bank is 20 , not 19 or 26. The information given by dis site is wrong plz correct it.
deepak
October 29, 2012 at 8:23 amaccording to my experience there are 27 public sector and 30 private sector banks in India right now.
sheetal
December 4, 2012 at 4:37 pminformation given at this site is correct.
vineet rastogi
December 13, 2012 at 4:53 pmkindly let us know that Aryabrit gramin bank, indergarh, distt Kannauj is schedule bank or nor.
Siva
January 2, 2013 at 4:08 pmIs Lakshmi Vilas Bank the scheduled bank ?
Laxmi N. Patel
January 5, 2013 at 9:23 amweb is not update ,don’t believe
Vinay
January 8, 2013 at 4:47 pmYes lakshmivilas bank is a scheduled bank
bhagat
January 9, 2013 at 11:04 pmCan I know if hdfc bank is considered as a private scheduled bank.
D J Terekar
February 2, 2013 at 2:06 pmwhat about HSBC Bank ?
Not scheduled one ?
Babi ganguly
February 2, 2013 at 8:25 pmsir
pls mention some important foreign bank name like other bank names . as per my knowledge RBS (former ABN AMRO)is a foreign bank am i confirmed
Gajendra singh
February 3, 2013 at 10:22 amMy idea IDBI BANK is nationalised bank but this equity is blow 51%.
pooja Gupta
March 7, 2013 at 7:53 pmplease update this article
Shailesh Bhatt
March 8, 2013 at 12:05 pmThe best bank currently in India And best facilities Yes bank.If you want good services then open account in Yes bank.
rkmehra
April 6, 2013 at 10:15 amPls infm if Axis bank Ltd. is Sheduled bank or not?
Moloy Panja
May 26, 2014 at 4:33 pmPl. inform whether Axis Bank is listed in Schedule Bank of India?
manan gupta
April 26, 2013 at 9:29 pmPls infm if Kotak Mahindra Bank Ltd. is Scheduled Bank or not?
greta fernandez
July 9, 2013 at 2:07 pmPlease let me know whether Catholic Syrian Bank is a acheduled bank and i have fds which can be used for tax exemption.
shashi mg
July 12, 2013 at 9:17 amwhether HDFC bank is a nationalised bank?
Dr Vijay M Nimbalkar
August 20, 2013 at 10:49 pmThane Janta Sakhari Bank Ltd. (TJSB) is scheduled commercial bank or Not
[email protected]
August 21, 2013 at 7:25 pmplease inform the best bank in palakkad?
dheeraj
August 23, 2013 at 8:04 pmHDFC bank is a private scheduleed bank….
link is http://en.wikipedia.org/wiki/Scheduled_banks
Ravindra
January 19, 2014 at 3:52 pmIndian mercantile co-operative bank Ltd., The Jammu & Kashmir Bank – Are These Banks Sheduled Bank or Not
pranav
February 1, 2014 at 11:28 pmright now there are 21 nationalised banks after commencement of ‘Bhartiya mahila bank’…
DR.DILIP PATEL
February 25, 2014 at 9:05 ami want latest list of schedual bank in india commercial and coperative
thanks
Mohan
February 25, 2014 at 9:39 pmIs Karur Vysya Bank is Scheduled bank?
Suresh Thakkar
March 17, 2014 at 2:56 pmThe Schedule banks have to follow the rules and regulations of recruitment.?
kuldeep sahoo
May 19, 2014 at 9:20 pmKindly mentioned detail about the list of total private sector,public sector and commercial sector bank.
Ningthem Laishram
May 22, 2014 at 11:11 amSir, a newly bank, Bharatiya Mahila Bank(BMB) was nationalised on 20 Nov 2013 buu not in the list of nationalise bank. I have 26 nationalise bank without BMB in the present.
krupesh
May 24, 2014 at 2:14 pmList of scheduled commercial banks require, please mail me
Parmod Verma
June 26, 2014 at 11:26 amI want to know HSBC bank is Schedule bank or not? can any one reply back As I need to make B.G from HSBC and condition in B.G is from Schedule bank only . Please help
khyati
July 4, 2014 at 10:17 amIt is mentioned above that IDBI bank ltd is a nationalized bank and also a new private sector bank..! please described this in brief…
as according to my knowledge, there are 20 nationalized banks in India including RBI….
khyati
July 4, 2014 at 10:19 amIt is mentioned above that IDBI bank ltd is a nationalized bank and also a new private sector bank..! please described this in brief…
as according to my knowledge, there are 19 nationalized banks in India including RBI….
mahendra singh meena
July 28, 2014 at 8:48 amJK bank is scheduled bank or not? also it is commercial aur private
chaitu
November 9, 2014 at 8:26 pmwhat about ECGC
Manish
December 1, 2014 at 8:42 amWhat the bhartiya mahila bank? Is that a nationalised bank or not?
Vikas Saini
December 8, 2014 at 5:20 pmOne Bank is missing here in the list of Nationalised Public Sector Bank- Bharatiya Mahila Bank
sunil italiya
January 1, 2015 at 1:38 pmwhat about hdfc bank?
Ramya
January 3, 2015 at 11:17 amThis web site is give correct information.
M R THULASIDAS
January 6, 2015 at 9:53 pmuse ful good information
Prince kariya
January 25, 2015 at 12:29 pmi want to know that can we include veraval people bank in the list of scheduled bank.
vishwanath
January 27, 2015 at 6:44 pmplz all about of indusind bank . i have no more information about indusind bank
Nazir Ahamed
March 2, 2015 at 3:47 pmWhether HDFC bank comes under Scheduled bank ?
Mohdshareef
March 19, 2015 at 11:09 amDoes District co-operative banks come under Scheduled bank?
GKToday
March 19, 2015 at 11:36 amYes. They are scheduled banks.
ap
April 7, 2015 at 11:34 pmIf there are 19 nationalised banks then why SBI is not listed in the list of nationslised banks when it was nationalised in 1955.
Rahul Mahajan
June 11, 2015 at 8:34 amJ&K Bank is the only private sector bank in India which designated as RBI agent for banking business and carries out the banking business of Central Govt. besides collecting central taxes for CBDT. The BANK was founded in 1 Oct 1938 under the letters patent issued by MAHARAJA HARI SIGH of Jammu & Kashmir..Now the Bank is State Govt owened (47% Govt and 53% private) but is considered as Oldest Private sector and Scheduled Bank in India.
pankaj
July 6, 2015 at 6:46 amHow many sschedul commercial banks in India at present
raj
August 20, 2015 at 2:19 pmwhat about mudra bank
Virendra2708Rathore
March 21, 2016 at 4:38 pmThere are 27 Public Sector Banks. In Which 19 are Nationalised Banks & 6 State Bank Group ( S.B.I + 5 Associates of S.B.I + Other Psb’s Which includes IDBI & BMB )
Virendra2708Rathore
March 21, 2016 at 4:51 pmState bank Group are Also Natuonalised banks ….Which means there are 27 Nationalised banks …
ßhrì Hãrí
June 16, 2016 at 4:45 pmPlease define when the bank is established I.e which year it was established and the date please
umesh
August 25, 2018 at 5:42 pmhi all
i want to know if Axis Bank is scheduled bank or Nationalized Bank ?
Iseoma
January 21, 2021 at 10:55 pmWhat are the types of commercial banks please?
Vivian
January 21, 2021 at 11:01 pmBanks in Nigeria today