How many nationalized banks are there in India?

Answer 1

please mention the various nationalized banks By the 1960s, the Indian banking industry has become an important tool to facilitate the development of the Indian economy. At the same time, it has emerged as a large employer, and a debate has ensued about the possibility to nationalise the banking industry. Indira Gandhi, the-then Prime Minister of India expressed the intention of the GOI in the annual conference of the All India Congress Meeting in a paper entitled "Stray thoughts on Bank Nationalisation." The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an ordinance and nationalised the 14 largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, described the step as a "masterstroke of political sagacity." Within two weeks of the issue of the ordinance, the Parliament passed the Banking Companies (Acquisition and Transfer of Undertaking) Bill, and it received the presidential approval on 9 August, 1969. A second dose of nationalization of 6 more commercial banks followed in 1980. The stated reason for the nationalization was to give the government more control of credit delivery. With the second dose of nationalization, the GOI controlled around 91% of the banking business of India. Later on, in the year 1993, the government merged New Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalised banks from 20 to 19. After this, until the 1990s, the nationalised banks grew at a pace of around 4%, closer to the average growth rate of the Indian economy.

Answer 2

In 1980, there were 20 nationalised banks and State Bank of India and its 7 associate banks.

In 1993, the New Bank of India was merged with Punjab National Bank reducing the number of nationalised banks to 19. However, as per Ministry of Finance, Govt. of India, IDBI was treated on par with nationalised bank. Thus there are 20 nationalised banks at present.

Among the State Bank group, two banks - State Bank of Saurastra and Indore- were merged reducing the number of assocaiate banks to 5.

Thus we have at present 20 nationalised banks + SBI + 5 Associate banks of SBI = 26 Public Sector Banks.

M.J. SUBRAMANYAM, XCHANGING, BANGALORE

Answer 3

There are many nationalized banks in India. Their names are as follows:

1. State Bank of India & its subsidiaries
2. Allahabad Bank
3. Bank of Baroda
4. Bank of India
5. Bank of Maharashtra
6. Canara Bank
7. Central Bank of India
8. Corporation Bank
9. Dena Bank
10. Indian Bank
11. Indian Overseas Bank
12. Oriental Bank of Commerce
13. Punjab & Sind Bank
14. Punjab National Bank
15. Syndicate Bank
16. UCO Bank
17. Union Bank of India
18. United Bank of India
19. Vijaya Bank

Answer 4

we have required list of nationalised Bank list. with name

Answer 5

there are 31 nationalised banks in india.

Answer 6

there are 28 Nation Banks in INDIA