Top Banks in India

1. Focusing and catering to diverse needs of various customers, thereby providing excellent customer services 
2. Exhibits strong market position, stable net income, and exponential revenue growth 
3. Offering an extensive range of banking products that meets the needs of various entities, such as businesses, government, individuals, etc. 
4. Ensures stable and sustainable growth through strong risk management practices 

1. Effective management of non-performing assets (NPAs) and maintaining a healthy loan portfolio 
2. Ensures seamless digital banking experiences, secure and convenient banking services through the implementation of digital transformation and adopts cutting-edge technology 

List of 10 Best Banks in India 

The following is the list of top 10 banks in India and related details about the banks:  

1. State Bank of India (SBI): An Indian multinational public sector bank and financial services statutory body, State Bank of India, is headquartered in Mumbai. The bank was formed after Government of India took over the control of Imperial Bank and along with the Reserve Bank of India, renamed the bank as State Bank of India in 1955. The bank offers multiple banking products including retail banking, corporate banking, and wealth management services. The bank also provides a wide network of ATMs and branches nationwide to cater to an extensive customer base across the country. 

2. HDFC Bank: Mumbai-based an Indian banking and financial services company, HDFC Bank, is one of the largest private sector banks which as has ranked fourth in market capitalisation in the world as of July 2023. The bank was incorporated in 1994 and offers multiple financial products, such as retail and wholesale banking, loans against property, consumer durable loan, lifestyle loan, auto loans, personal loans, two-wheeler loans, credit and debit cards, and other digital products, such as SmartBUY and Payzapp. 

3. ICICI Bank: From catering to corporate and retail customers to offering various banking products the Mumbai-based bank, ICICI Bank Limited offers various services through specialised subsidiaries, such as venture capital, asset management, investment banking, life and non-life insurance. The bank was established in 1955 and has multiple branches across the country along with various subsidiaries abroad. 

4. Punjab National Bank (PNB): A prominent public sector top bank in India, Punjab National Bank, founded in 1894, which is the second largest public sector bank in India in terms of network and business volume. The bank has functional banking subsidiaries abroad, but also has a strong presence in rural and semi-urban areas. 

6. Bank of Baroda (BoB): The second largest public sector bank in India, headquartered in Vadodara, Gujarat, Bank of Baroda, was founded in 1908. The bank is known for its global presence, vast customer base, and extensive branch network across the country. The bank was nationalised along with 13 other banks as a profit-making public sector undertaking (PSU) by the Government of India in 1969. Apart from various financial products, the bank provides various banking services including treasury operations, retail banking, and corporate banking. 

7. Axis Bank: Formerly known as UTI Bank, Axis Bank, is headquartered in Mumbai which was founded in 1993. The bank offers user-friendly banking experience, focuses on digital banking, and sells financial services to retail businesses, large and mid-sized companies, and SMEs (Small and medium-sized enterprises). 

8. Canara Bank: Bangalore-based a well-established public-sector bank, Canara Bank, which was nationalised in 1969. The bank was initially founded in 1944 and has multiple branches across the country, which are strongly functional in rural and semi-urban areas of the country. The bank offers multiple banking products and services including corporate and retail banking and treasury operations. 

9. Union Bank of India: Indian public sector bank headquartered in Mumbai, Union Bank of India, founded 1919 and after merger with Corporation Bank and Andhra Bank effective 2020. After the merger, the banking entity is one of the largest PSU banks in terms of branches of the bank across the country. The bank offers technology-driven and innovative banking experiences by providing retail banking, corporate banking, and international banking apart from various banking products and services. 

10. Bank of India (BOI): One of the Indian Public sector bank, Bank of India, headquartered in Bandra Kurla Complex in Mumbai and was founded in 1906. The bank became government-owned in 1969 and has currently over 5,084 branches in India in various states and Union Territories. From extensive network of branches and diverse banking services to offering retail banking, corporate banking, and treasury operations, the bank offers excellent banking services to the customers. 

11. IndusInd Bank: The Mumbai-based private sector bank, IndusInd Bank, was founded in 1994 and inaugurated by then Union Finance Minister of India, Dr. Manmohan Singh. From offering credit and debit cards, mortgage loans, and corporate banking, retail banking, and investment banking services, the bank caters to diverse customer needs by extending several bank branches and ATMs. 

Overview of the Top 10 Banks in India 

The following is the detailed overview of the top banks in India based on specific parameters: