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The indian banking system consists of 21 private sector banks 27 public sector banks 49 foreign banks 56 regional rural banks 1562 urban cooperative banks and 94384 rural cooperative banks in addition to cooperative credit institutions as of october 2018 according to india brand equity foundation ibef.
Best banks in india. The next name on the list of best banks of india in 2018 is that of punjab national bank which has asset management of 100 billion. There have been several banks established all governed by the reserve bank of india. India a developing country with a gdp of nearly 26 trillion and growing more then 7 a year. India is home to 27 public sector banks of which 21 are nationalised banks and 6 belong to the state bank group.
Bank of india is an indian state owned bank which was founded in the year 1906. As of 21 april 2012 4187 branches which include the 52 branches that are outside india. Among the best public sector banks in india union bank of india has been a steady performer over the years. D espite several challenges plaguing the banking sector hdfc bank has emerged as the best bank in india among the large banks with good asset quality high loan growth a healthy capital.
Union bank of india. Best banks in india banks and financial institutions are the heart of the economy and integral part of the economy. Indias top 10 best bank list public sector banks are government owned banks more than 50 of the shares are owned by the government so these banks are fully held by the government. On the other hand private banks maximum shares belong to a private party so these type banks are called private banks.
Also recently andhra bank and corporation bank merged into this bank taking the. Lets us have a look at the top 10 largest banks in india. In addition 45 foreign private sector banks which support the indian banking system. It has a range of banking products in categories like consumer banking corporate banking mortgage loans investment banking etc.
In the very recent jan dhan yojana people are encouraged to open bank accounts with zero balance thus promoting banking in the country. Of course the count is more now. Here is the list of top ten best banks in india 2019.
