Public Sector Banks in India 2025

Public Sector Bank Mergers After 2020

 Below is the list of the largest nationalized banks which got merged. In this merger, the six public sector banks merged with six independent public sector banks. 

Four Main Categories of Banks

Indian banks are segmented into four different categories. They are:

1. Commercial Banks: These include Private Sector Banks, Public Sector Banks, Foreign Banks, and Regional Rural Banks (RRBs).
2. Payment Banks
3. Small Finance Banks
4. Cooperation Banks: These are split into Urban Cooperative Banks and Rural Cooperative Banks.

Government banks, popular known as Public sector banks are commercial banks which are governed by the Indian Government and the majority of their shares are held by the central as well as state governments. Previously, there were 27 public sector banks in India but after August 2019, some of the banks were banks were merged into larger ones. After merging, the total number of public sector banks stand 12.

Presently, there are 12 government banks in the country namely, the State Bank of India, Bank of Baroda, Central Bank of India, Canara Bank, Punjab National Bank, Bank of Maharashtra, Union Bank of India, UCO Bank, Indian Bank, Punjab and Sind Bank, and Bank of India.

State Bank of India

1. SBI's balance sheet size crossed ₹61 lakh crore as of March 2024.
2. Market share is approximately 22.55% in deposits and 19.06% in advances in India.
3. CASA ratio stood at 41.11% as of March 2024.
4. Strong business growth with deposits growing 11.13% and advances growing robustly during FY2024.
5. Chairman as of 2024 is Challa Sreenivasulu Setty,  .
6. Website: www.onlinesbi.com remains valid.

Bank of Baroda

1. MD & CEO: Dr. Debadatta Chand (since July 2023).
2. Over 8,500 domestic branches and more than 9,300 ATMs as of March 2025.
3. Net profit of Rs 19,581 crore in FY25, a 10.1% increase year-on-year.
4. Gross advances grew by 12.8% to Rs 12.3 lakh crore; deposits rose 10.3% to Rs 14.7 lakh crore.
5. Digital adoption is high with 95% of transactions through digital channels.
6. Website: www.bankofbaroda.in

Bank of India

1. MD & Chairman: Shri Rajneesh Karnatak &  MR Kumar (current).
   
2. CEO has over 30 years banking experience with expertise in credit and risk management.
3. Website: www.bankofindia.co.in

Bank of Maharashtra

1. Improved financials in FY24-25 with net profit increasing 36.1% to Rs 554 crore.
2. Net interest income at Rs 1167 crore as of FY25, an 18.8% increase from previous year.
3. Gross NPA reduced to 1.80% and Net NPA to 0.20% as of December 2024 quarter.
4. Continuing growth in deposits, advances, and profitability.
5. Website: www.bankofmaharashtra.in

Canara Bank

1. MD & CEO: Satyanarayana Raju (current).
   
2. Q4 FY25 earnings showed healthy performance; digital and physical expansion ongoing.
3. Website: www.canarabank.com

Central Bank of India

1. Latest financial results indicate steady growth with improving asset quality in FY24-25.
2. MD & CEO: Mamta Venkata Rao’s current status to be verified as recent reports show ongoing leadership.
3. Website: www.centralbankofindia.co.in

Indian Bank

1. MD & CEO: Binod Kumar (appointed January 16, 2025).
2. Known for strong leadership and banking expertise with prior roles at Punjab National Bank.
3. Positioned for growth and strategic expansion in 2025.
4. Website: www.indianbank.in

Indian Overseas Bank

1. Positive financial growth in FY23-24 with net profit increasing 26.7% to Rs 266.57 crore.
2. Net NPA ratio improved to 0.6% from 1.8% a year before.
3. Expected continued improvement in asset quality and profitability.
4. Website: www.iob.in

Punjab and Sind Bank

1. MD & CEO: Sh. Swarup Kumar Saha (Current)
2. Bank’s financials improving with focus on digital services and rural penetration.
3. Website: www.punjabandsindbank.co.in

Punjab National Bank

1. MD & CEO: Shri Ashok Chandra (Current).
2. Bank has over 12,248 branches and more than 13,000 ATMs as of latest data.
3. Total assets valued at approx. Rs 13 lakh crore in 2024.
4. Website: www.pnbindia.in

UCO Bank

1. Chairman: Aravamudan Krishna Kumar (current).
2. Bank shows steady growth in branches and financial parameters.
3. Net profit showing positive momentum.
4. Website: www.ucobank.com

Union Bank of India

1. Chairman: Srinivasan Varadarajan (current).
2. Over 9,609 branches and 75,000 employees.
3. Recently merged with Andhra Bank and Corporation Bank.
4. Website: www.unionbankofindia.co.in

How to Open an Account in a Government Bank

Opening an account in a government bank is simple and secure. Here’s a quick guide to get you started:

• Choose the Right Account - Decide whether you need a savings account, current account, or a specialized scheme (like Jan Dhan Yojana).
• Visit the Nearest Branch or Apply Online - Most government banks now offer online account opening. Alternatively, you can visit your nearest branch.
• Keep Your Documents Ready
  • You’ll typically need:
  • Aadhar Card
  • PAN Card
  • Passport-size photographs
  • Proof of address (if different from Aadhar)
• Fill Out the Application Form - Complete the form either online or at the branch. Bank staff will assist you if needed.
• Verification & Initial Deposit - Submit your documents for verification. Some accounts may require a small initial deposit.
• Get Your Welcome Kit - Once approved, you’ll receive your account number, passbook, debit card, and internet banking details.

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