Top List of Banks in India
Investing in India is one of the best ways to make some extra money, and one of the most significant benefits of doing so is that it is possible to earn a lot more money than you invested!
One of the main reasons for this is that there are many investment banks in India. These banks will offer you a good return on your investment and offer you a way to make some extra money by investing your money with them. However, if you want to get the most out of your investment, you should research before choosing an investment bank. This outline will help analyze some of the best banks in India that are appropriate for your investment. The following is a list of the banks:
State Bank of India (SBI)
SBI is the largest Bank in India and has a long history, dating back to 1806. It is a government-owned corporation with its headquarters in Mumbai, Maharashtra.
State Bank of India (SBI) is a multinational, public sector banking and financial services statutory body headquartered in Mumbai, Maharashtra. As of 2021, SBI had 22,219 branches within India and 198 offices in 36 other countries. It had total assets summing up to around 48.46 trillion INR 680 billion by 2021. The Bank also had a total of 245,642 employees as of 2021. The different types of accounts offered by SBI Bank include savings accounts, current accounts, term deposits and recurring deposits.
PNB (Punjab National Bank)
The Bank was founded in 1894. PNB offers retail banking products including consumer banking, commercial banking, agri-banking and personal banking services, including savings and current accounts, deposits, loans, debit cards, credit cards, insurance etc. Other products offered by PNB include payments bank services through subsidiary Airtel Payments Bank Ltd.,
PNB is headquartered in New Delhi. For the fiscal year ending March 31, 2021, PNB had a total business of US$180 billion with deposits of $116 billion and advances of $82 billion. The Bank has 10,528 domestic branches as of September 2021. It had 103,000 employees as of 2020.
Bank of Baroda
The Bank was founded by the Maharaja of Baroda, Maharaja Sayajirao Gaekwad III, on July 20 1908, in the princely state of Baroda, in Gujarat.
Bank of Baroda is a state-owned international banking and financial services company headquartered in Vadodara, Gujarat. It is the second-largest BankBank in India, next to the State Bank of India, and offers a range of banking products and financial services to corporate and retail customers through its branches and its specialized subsidiaries and affiliates.
Bank Of Baroda has total assets of over 1.776 trillion INR (US$24 billion, 2018), a network of whole branches of 8185 As of 31.12.2021. The Bank was also estimated to have had 16,079 employees as of the financial year 2018.
Canara Bank is one of the largest public sector banks owned by the Government of India. Its headquarters are in Bengaluru. It was established at Mangalore in 1906 by Ammembal Subba Rao Pai, and later, the government nationalized the BankBank in 1969.
Until June 2021, Canara Bank had 9,877 branches and other outlets across India. As of March 2021, the BankBank had 88,213 employees and total assets, summing up to 11.54 trillion (INR 160 billion) as of 2021. The Bank offers various services to its customers through multiple channels, including Personal banking that includes a range of services for individuals, such as savings and current accounts, deposits, loans, cards, insurance, and investment products.
Union Bank of India
Union Bank of India is one of the largest government-owned banks of India and has assets of USD 1.515 trillion INR 21 billion, 2019. Its online Telebanking facilities are available to all its Core Banking Customers - individual and corporate. It had 4214 branches in India at the beginning of 2017, which increased to 9,316 units by March 2021 with a total business of 10.5 lakh crore INR (US$145 billion). The Bank was founded in 1919 as a limited company in Mumbai and was inaugurated by Mahatma Gandhi. UBI offers internet banking services to all customers using a browser without installing any software.
Bank of India
Bank of India is a commercial bank with headquarters at Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalization in 1969. Bank of India has over 5000 branches as of January 31 2016, including 56 offices outside India, including five subsidiaries, five representative offices, and one joint venture. It is one of the Big Four banks of India, along with ICICI Bank, State Bank of India and Punjab National Bank. The company had a total of 51459 employees as of March 2021 and total assets summing up to 7.259 trillion INR (US$100 billion, 2021). Bank of India offers the following services: Savings and current accounts, fixed deposits, recurring deposits, and National Pension Scheme Accounts. It also provides forex services such as remittances to any bank in India through its Telegraphic Transfer facility.
Indian Bank is a state-owned financial services company established in 1907 and headquartered in Chennai, India. It had 41,620 employees as of 2021 and 6,004 branches across the country with over 100 million customers. The Bank's entire business was 6.26 trillion INR (US$88 billion, 2021).
Indian Bank offers savings accounts, current accounts, fixed deposits, recurring deposits, loans and credit cards. Bank also provides several value-added services to its customers like Mobile Banking, Internet Banking and SMS Banking.
Central Bank Of India
Central Bank of India is a government-owned bank and the largest commercial Bank in India. It is under the ownership of the Ministry of Finance Government of India. Founded in 1911, it has been government-owned since nationalization in 1969. Central Bank of India has 46 million customers across the country and a network of 3,656 branches. Its assets were estimated to be worth 3.692 trillion INR (US$52 billion, 2021), making the BankBank be one of the most suitable for investment in India. Central Bank Of India offers personal banking services like savings accounts, deposits, loans, cards, insurance etc., to its customers. Bank also provides money transfers, internet banking and mobile banking to its customers.
UCO Bank (Unified Commercial Bank) is a commercial bank in India. It was established in 1943, headquartered in Kolkata, West Bengal. UCO Bank is one of the top-performing banks in India and is currently ranked one of the biggest banks in the world by total assets. The Bank has an employee strength of 22,012 (March 2021) and a network of 3,078 branches. Its overseas unit is located in Dhaka, Bangladesh. It has representative offices in Almaty (Kazakhstan), Dubai (UAE) and Shanghai (China). It was estimated to have had total assets worth 2.533 trillion INR (US$36 billion, 2021). The Bank'sBank's business model is centred around four business segments: retail, corporate, treasury and international operations.
Q. Which is the most secure Indian Bank?
A. DBS Bank in India is one of the most secure banks in India, with high-security systems and processes to safeguard customer data and assets. The Bank is also a member of CERT-In impaneled auditors and has an information security team that constantly monitors the technology infrastructure of the BankBank to ensure high levels of security through constant monitoring and analysis.