Is AXIS BANK nationalised bank or not?

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In Banking
no its a private bank now and earlier it was a public bank known as UTI bank
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What is difference between public sector bank and nationalised bank?

All the nationalised banks r public sector but all public sector banks r not nationalised

Causes of nationalisation of commercial bank?

The nationalisation of commercial banks increased the role of public sector banks. Vari­ous authorities have advocated many reasons for the nationalisation of major commercial bank. Let us see their views one by one. A. The then Prime Minister, Smt. Indira Gandhi In her broadcast to the nation on the eve of nationalisation of the fourteen leading Indian banks, she summed up the objectives of the nationalisation as, "The present decision to nationalise major banks is to accelerate the achievements of our objectives. The purpose is to expand bank credit to priority areas which have hitherto been somewhat neglected. It also includes, (i) The removal of control by a few (ii) Provision of adequate credit facilities to agriculture, small industry and exports (iii) The giving of professional bent to bank management (iv) The encouragement of new classes of entrepreneurs, and (v) The provision of adequate training as well as reasonable terms of service for bank staff ". B. Prof. Sayers Prof. Sayers supports the nationalisation and gives his views under the following four issues. 1. Efficiency issue: According to Sayers, nationalisation will increase the efficiency of commercial banks as given below. (i) Deposits will increase because of increasing confidence in public sector bank. In­crease in bank resources will lead to economics of scale. (ii) The government can appoint experienced personnel to run and manage the banks. (iii) Govt, has the countrywide administrative network. Hence, it can make suitable changes in the banking policies according to the prevailing trends in the economy. (iv) Nationalised banks can have the main motive of public service. (v) Public sector banks can give preference to priority sectors in advancing loans. Thus, nationalisation promotes efficiency. 2. Monetisation issue: Commercial banks accumulate deposits from the public. There­fore, they are in a position to bring changes in the supply of money. Such an important power should not be in the private sector. It is the public sector that should have the control over money supply. 3. Integration issue: Central Banks are established by the Govt, for overall monetary control in the economy and is not aiming at profit. But commercial banks are started mainly to earn profit. Thus, there are contradicting objectives between Central Bank and commer­cial banks. In this situation, the Central Bank may find it difficult to implement its policies when the commercial banks oppose them. Therefore, in the interest of co-ordination and co­operation between them, commercial banks should be nationalised. 4. Socialisation issue: When a country aims at socialistic pattern of society, then the rol^ of public sector undertaking should be extended in all spheres of the economy. To start and run the public sector undertaking Govt, requires enormous financial requirements. Private commercial banks may obstruct such policies and may not finance public sector undertak­ings and above all they may discriminate against them. Therefore, the nationalisation of commercial banks will be necessary if the government wants to establish socialism. C. Views given by others 1. Preventing concentration of economic power: Initially, a few leading industrial and "business houses had close association with commercial banks. The directors of these banks happened to be the same industrialists who established monopoly control on the bank fi­nance. They exploited the bank resources in such a way that the new business units cannot enter in any line of business in competition with these business houses. Nationalisation of banks, thus, prevents the spread of the monopoly enterprise. 2. Social control was not adequate: The 'social control' measures of the government did not work well. Some banks did not follow the regulations given under social control. Thus, the nationalisation was necessitated by the failure of social control. 3. Channel the bank finance to plan - priority sectors: Banks collect savings from the gen­eral public. If it is in the hand of private sector, the national interests may be neglected, besides, in Five-Year Plans, the government gives priority to some specified sectors like agriculture, small-industries etc. Thus, nationalisation of banks ensures the availability of resources to the plan-priority sectors. 4. Greater mobilisation of deposits: The public sector banks open branches in rural areas where the private sector has failed. Because of such rapid branch expansion there is possi­bility to mobilise rural savings. 5. Help to agriculture: If banks fail to assist the agriculture in many ways, agriculture cannot prosper, that too, a country like India where more than 70% of the population de­pends upon agriculture. Thus, for providing increased finance to agriculture banks have to be nationalised. 6. Balanced Regional development: In a country, certain areas remained backward for lack of financial resource and credit facilities. Private Banks neglected the backward areas because of poor business potential and profit opportunities. Nationalisation helps to pro­vide bank finance in such a way as to achieve balanced inter-regional development and remove regional disparities. 7. Greater control by the Reserve Bank: In a developing country like India there is need for exercising strict control over credit created by banks. If banks are under the control of the Govt., it becomes easy for the Central Bank to bring about co-ordinated credit control. This necessitated the nationalisation of banks. 8. Small stake of shareholders: The nationalised banks had deposits totalling Rs. 2742 crore at the end of December 1968. But the capital contributed by their shareholders was only Rs. 28.5 crore, which was just 1% of deposits. Even if we include the reserves, the amount comes to only 2.4% of the banks deposits with such a small and insignificant stake, it is unjustifiable to allow the private shareholders to exercise control over such vital credit machinery with large resources. 9. Greater Stability of banking structure: Nationalised banks are sure to command more confidence with the customers about the safety of their deposits. Besides this, the planned development of nationalised banks will impart greater stability for the banking structure. 10. March Forward towards Socialism: India aims at socialism. This requires the financial institutions to run under the government's control and only through nationalisation, this objective can be effectively achieved. 11. Better service conditions to staff: Nationalisation ensures the staff of banks to enjoy greater job security and higher emoluments. It can provide other benefits as well. In this way the banks can motivate their staff and thereby the operational efficiency of banks will be increased. 12. New schemes: Through nationalised banks, new schemes like village adoption scheme, Lead Bank Scheme can be formulated and implemented. Besides, different types of financial facilities can be extended to persons like Doctors, Engineers, Self-employed persons like artisans etc. Nationalisation of banks creates great interest among various sections of the public. Many hopes were raised in the middle class and poor people with regard to the financial assistance. The nationalised banks drew up a number of schemes to assist new types of customers and are plans to make each of these banks to adopt a few select districts and concentrate on their intensive development.

Is icici bank in India nationalised?

No. It is the largest private bank in India.\n. \nI dont think so,ICICI is a nationalised bank which is having 146,214 crores of assets and which is operating operations around the world\n. \nNo, ICICI is not a nationalised bank.\nyou can search and find the list of nationalised banks in India through Google.

List of nationalised banks in India?

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

Meaning of nationalised bank?

Nationalized Bank refers to Government Undertaking or Managing Bank. As SBI & PNB are Government Banks its a Nationalized Bank

How many nationalised banks are in india?

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

How many nationalised banks in India?

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

What do you mean by Nationalised Banking?

The central government purchases the shares of private shareholders by payment double the amount of shares worth.

List of nationalised bank in India?

There are many Nationalized Banks in India. The major ones are: . State Bank of India . Indian Overseas Bank . Indian Bank . Punjab National Bank . etc

Is idbi bank ltd is private or a nationalised bank?

The Industrial Development Bank of India Limited commonly known by its acronym IDBI is one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI categorised IDBI as "other public sector bank".It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry. It is currently the tenth largest development bank in the world in terms of reach with 871 ATMs, 504 branches and 316 centers. Some of the institutions built by IDBI are The National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL) IDBI BANK , as a private bank after government policy for new generation private banks.

What is the difference between a nationalised bank and state bank of India?

Nationalized bank refers to public bank which is taken over by government by acquiring shares or by legislation or charter passed in that regard.\n. \nState Bank of India is largest nationalized bank in India. This is not to be confused with Reserve Bank of India which is central banking authority which monitors activities of all banks operation in India, domestic or foreign.

Is IDBI Bank nationalised bank?

The Industrial Development Bank of India Limited commonly known by its acronym IDBI is one of India's leading public sector banks and 4th largest Bank in overall ratings. RBI categorised IDBI as "other public sector bank".It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry. It is currently the tenth largest development bank in the world in terms of reach with 871 ATMs, 504 branches and 316 centers. Some of the institutions built by IDBI are The National Stock Exchange of India (NSE), The National Securities Depository Services Ltd. (NSDL) and the Stock Holding Corporation of India (SHCIL) IDBI BANK , as a private bank after government policy for new generation private banks.

What were the reason of nationalisation of banks?

Before nationalisation of banks most of the banks emerged and failed in their goals, even most banks were evolved with their motives of only profit making and not supporting the development process; this was conflicts with the nations goals. Lending processes of commercial bannks were discourages the small sector industries and export promotions. Expansion of the banking sector was limited to strategic business centers like New Delhi, Mumbai and Bangalore. That's why nationalization done in 1969 by Indira Gandhi, a prime minister of India

Difference between nationalised bank and private bank?

A Nationalized bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks. A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.

Is SBI bank a nationalised bank?

No, SBI is not a nationalised bank. It is one of the greatest bank.It is a public bank but not a nationalised bank. Right now 19 bankswere nationalised out of 20, in which SBI i.e. State Bank Of Indiais not included.

Is pnb nationalised bank of India?

Punjab National bank is the second largest nationalized bank in India. They have over 5000 branches across 764 cities in India. They serve over 37 million customers and are one of the big four banks in India. Their abroad branches include - London, Afghanistan, Shanghai, Dubai, Norway etc

Difference between SBI and nationalised banks?

State Bank of India has been formed by a separate Act of parliament State Bank of India Act 1955 whereas nationalised bank were commecial banks which were nationalised as per Banking companies (Acquisition and transfer of undertakings ) Act 1970.

Difference between nationalised bank and public sector bank?

They both mean the same. The terms Nationalized or Public Sector both refer to the same thing. A Nationalized bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks.

Difference between nationalised and foreign banks?

A nationalised bank is majority owned by the state/government/people. A foreign bank is owned by or has it's headquarters in a different country.

Is HDFC bank a nationalised bank?

HDFC Bank is not a nationalised bank. As of now, there are 25 Nationalized Banks in India: 1) State Bank of India 2) State Bank of Bikaner & Jaipur 3) State Bank of Hyderabad 4) State Bank of Mysore 5) State Bank of Patiala 6) State Bank of Travancore 7) Allahabad Bank 8) Andhra Bank 9) Bank of Baroda 10) Bank of India 11) Bank of Maharashtra 12) Canara Bank 13) Central Bank of India 14) Corporation Bank 15) Dena Bank 16) Indian Bank 17) Indian Overseas Bank 18) Oriental Bank of Commerce 19) Punjab National Bank 20) Punjab and Sind Bank 21) Syndicate Bank 22) Uco Bank 23) United Bank of India 24) Union Bank of India 25) Vijaya Bank New private sector banks HDFC Bank ICICI Bank Axis Bank IndusInd Bank ING Vysya Bank Kotak Mahindra Bank Yes Bank

Why sbi is not a nationalised bank?

The government of India nationalized the Imperial Bank of India in 1955, with the Reserve Bank of India taking a 60% stake, and renamed it the State Bank of India. So, from then there is no need to nationalized SBI

What are the effects of nationalisation of commercial bank in India?

The effects of nationalization of the Commercial Bank in India isthat it has had a positive effect on the economy. The natives ofthe country have directly benefited from nationalization of thebank because they own it.

What is meaning of bank nationalisation in India?

Bank Nationalization is the process by which the government of India takes over full or majority stake/control on the bank and makes it a government bank. There are many nationalized banks in India. Their names and year of nationalization are as follows: 1. Allahabad Bank - 19 July 1969 2. Bank of Baroda - 1969 3. Bank of India - 1969 4. Bank of Maharashtra - 1969 5. Canara Bank - 1969 6. Central Bank of India - 1969 7. Corporation Bank - 1980 8. Dena Bank - 1969 9. Indian Bank - 1969 10. Indian Overseas Bank - 1969 11. Oriental Bank of Commerce - 1980 12. Punjab & Sind Bank - 1980 13. Punjab National Bank - 1969 14. Syndicate Bank - 1969 15. UCO Bank - 1969 16. Union Bank of India - 1969 17. United Bank of India - 1969 18. Vijaya Bank - 1980 Apart from these, there is State Bank of India which was nationalized in 1955

Nationalisations of commercial banks in India?

There are many nationalized banks in India. Their names and year of nationalization are as follows: 1. Allahabad Bank - 19 July 1969 2. Bank of Baroda - 1969 3. Bank of India - 1969 4. Bank of Maharashtra - 1969 5. Canara Bank - 1969 6. Central Bank of India - 1969 7. Corporation Bank - 1980 8. Dena Bank - 1969 9. Indian Bank - 1969 10. Indian Overseas Bank - 1969 11. Oriental Bank of Commerce - 1980 12. Punjab & Sind Bank - 1980 13. Punjab National Bank - 1969 14. Syndicate Bank - 1969 15. UCO Bank - 1969 16. Union Bank of India - 1969 17. United Bank of India - 1969 18. Vijaya Bank - 1980 Apart from these, there is State Bank of India which was nationalized in 1955.

Why were the banks nationalised in India in 1969?

The then Congress Govt wanted banks to be nationalised so that they could hold "Loan Melas" with an eye on the VOTE BANK.

Why were the banks nationalised in India in 1980?

In the year 1980, the second phase of nationalisation of Indian banks took place, in which 7 more banks were nationalised with deposits over 200 crores. With this, the Government of India held a control over 91% of the banking industry in India.

How may nationalised bank are in India?

There are many nationalized banks in India. Their names are as follows: . State Bank of India & its subsidiaries . Allahabad Bank . Bank of Baroda . Bank of India . Bank of Maharashtra . Canara Bank . Central Bank of India . Corporation Bank . Dena Bank . Indian Bank . Indian Overseas Bank . Oriental Bank of Commerce . Punjab & Sind Bank . Punjab National Bank . Syndicate Bank . UCO Bank . Union Bank of India . United Bank of India . Vijaya Bank .

What is the reason behind the nationalisation of bank?

Bank Nationalization is the process by which the government of India takes over full or majority stake/control on the bank and makes it a government bank. Banks may be Nationalized in order to protect customer interest or by a government policy decision. There are many nationalized banks in India. Their names and year of nationalization are as follows: 1. Allahabad Bank - 19 July 1969 2. Bank of Baroda - 1969 3. Bank of India - 1969 4. Bank of Maharashtra - 1969 5. Canara Bank - 1969 6. Central Bank of India - 1969 7. Corporation Bank - 1980 8. Dena Bank - 1969 9. Indian Bank - 1969 10. Indian Overseas Bank - 1969 11. Oriental Bank of Commerce - 1980 12. Punjab & Sind Bank - 1980 13. Punjab National Bank - 1969 14. Syndicate Bank - 1969 15. UCO Bank - 1969 16. Union Bank of India - 1969 17. United Bank of India - 1969 18. Vijaya Bank - 1980 Apart from these, there is State Bank of India which was nationalized in 1955.

Is further nationalisation of bank possible?

Yes it is very much possible. It is the decision of the government of the country to choose when or which bank they want to nationalize but they can't just pick up any bank that is held by a private company and nationalize it. There must be a valid reason. For ex: In India around 14 banks were nationalized in 1969 and a further 5 banks were nationalized in 1980. Let's say tomorrow a private bank declares bankruptcy and has thousands of customers who have deposited millions of rupees in the bank, to reduce impact to customers, the government of India can step in and say, we are taking over this bank (nationalizing it) and we'll be responsible for the money in it. This way the customers would be saved of the agony of losing their hard earned money.

What banks are nationalised banks?

There are many nationalized banks in India. Their names are as follows: . State Bank of India & its subsidiaries . Allahabad Bank . Bank of Baroda . Bank of India . Bank of Maharashtra . Canara Bank . Central Bank of India . Corporation Bank . Dena Bank . Indian Bank . Indian Overseas Bank . Oriental Bank of Commerce . Punjab & Sind Bank . Punjab National Bank . Syndicate Bank . UCO Bank . Union Bank of India . United Bank of India . Vijaya Bank .

How many NATIONALISED bank in India and when did they NATIONALISED?

There are many nationalized banks in India. Their names and year of nationalization are as follows: 1. Allahabad Bank - 19 July 1969 2. Bank of Baroda - 1969 3. Bank of India - 1969 4. Bank of Maharashtra - 1969 5. Canara Bank - 1969 6. Central Bank of India - 1969 7. Corporation Bank - 1980 8. Dena Bank - 1969 9. Indian Bank - 1969 10. Indian Overseas Bank - 1969 11. Oriental Bank of Commerce - 1980 12. Punjab & Sind Bank - 1980 13. Punjab National Bank - 1969 14. Syndicate Bank - 1969 15. UCO Bank - 1969 16. Union Bank of India - 1969 17. United Bank of India - 1969 18. Vijaya Bank - 1980 Apart from these, there is State Bank of India which was nationalized in 1955.

How many nationalise bank in India given bank name?

There are many Nationalized banks in India. They are: a. Allahabad Bank b. Andhra Bank c. Bank of Baroda d. Bank of India e. Bank of Maharashtra f. Canara Bank g. Central Bank of India h. Corporation Bank i. Dena Bank j. IDBI Bank k. Indian Bank l. Indian Overseas Bank m. Oriental Bank of Commerce n. Punjab & Sind Bank o. Punjab National Bank p. State Bank of India (And all its subsidiaries) q. Syndicate Bank r. UCO Bank s. Union Bank of India t. Vijaya Bank

When was the reserve bank of India nationalised?

The Reserve Bank is not a normal bank and was never nationalized. In fact, even when it was created in the year 1935 it was owned by the government that ruled the country (British). Later once, India got its independence, the government of India took over control of this bank. It is the central bank of India whose purpose is to regulate the issue of bank notes, to keep reserves with a view to securing monetary stability in India and generally to operate the currency and credit system in the best interests of the country.

Is axis bank is nationalised bank of India?

Axis bank is a private sector bank that is not owned by the government of India. A number of Insurance companies in India together own this bank. They are: . Unit Trust of India . Life Insurance Corporation of India . General Insurance Corporation Ltd . National Insurance Company Ltd . The New India Assurance Company . United India Insurance Company and . The Oriental Insurance Corporation Axis bank is one of India's largest private sector banks. They have more than 1095 branches in India and also have 4846 ATMs in all major towns and cities of India. This makes them one of the top 3 private banks in the country in terms of sheer branch and ATM numbers. .

Why banks were nationalised in India?

In the early days after independence, India was under immense financial hardships. Peoples savings were drained out and citizens were unable to lead a normal life. Since banks were the lifeblood of the economy, the government felt that nationalizing banks would instill the faith in the banking system that was required to revive the economy. Hence they nationalized the nation's banks. State Bank of India is the largest bank in India and it is a nationalized bank.

How many nationalise bank in maharashtra's?

All the nationalized, private and foreign banks that have branches in India have a branch in Maharashtra either in Bombay or Pune. Bombay is considered the financial capital of India and has a branch for almost every bank that is operational in India.

Is IDBI bank nationalised or public bank?

IDBI stands for Industrial Development Bank of India. Their vision is: "To be a trusted partner in progress by leveraging quality human capital and selling global standards of excellence to build the most valued financial conglomerate" It is currently the 10 th largest development bank in the World. It is owned by the government of India. The terms nationalized or public both refer to the same which means - owned by the government.

Is NABARD a nationalised bank?

hi NABARD IS THE ONE OF THE APEX BANKS IN INDIA. TOTAL 5 APEX BANKS ARE THERE. THOSE ARE RBI, NABARD , EXIM BANK , IDBI , SIDBI . THESE ARE ALL WORKING UNDER UNION GOVERNMENT OF INDIA.

How many banks were nationalised in India in 1969?

14 banks were nationalized in the year 1969. A Nationalized Bank is one that is owned by the Government. A Government owned bank is one that is fully owned by the national government. They are also called Nationalized Banks or Public Banks. For ex: State Bank of India, Indian Bank, Indian Overseas Bank are all famous nationalized/government owned banks in India.

Is IOB nationalised bank or not?

IOB or Indian Overseas Bank is a nationalized bank that provides commercial banking services in india. It has over 2000 branches in india making it one of the large commercial banks of the country. Mr. M. Narendra is the Chairman and Managing Director of the bank.

Is south indian bank is nationalised bank?

No. It is a private sector bank in India. It is headed by Dr. V A Joseph, Managing Director & CEO of the bank. South Indian Bank has 580 branches and 3 extension counters spread across more than 26 states and union territories in India

What are the main functions of nationalised banks?

The functions of nationalized and private banks don't differ much. Except for the fact that nationalized banks are owned by the government, they do exactly the same thing private banks do. One difference I can think of is that, they operate in rural areas where private banks don't see any profitability to operate. They may help provide financial services to rural people.

Which bank was not nationalised in 1969?

State Bank of India, it was nationalized in 1955, then it was called as imperial bank of india

Is Syndicate Bank a nationalised bank?

Yes. Syndicate Bank is nationalised on 19 July 1969. Yes. Syndicate Bank is nationalised bank. It was nationalised on 19th July 1969.

Can a bank manager of a nationalised bank attest certificates?

Yes he/she can but the acceptance of such document attested by suchofficial is a subject of the authority who is seeking it e.gemployer.Normally document attested by gazetted officials in directgovernment service is universally accepted through out thecountry.On the contrary even a headmaster of government aidedschool (not direct government schools whose all the teachers aregazetted)can attest but it may not be accepted everywhere speciallywhere it is mentioned that the attestation must be done by agazetted officer.

Is canara bank a nationalised bank?

Yes. Canara Bank is a Nationalized Bank. It is one of India's oldest banks. It has over 3000 branches and 4000 ATMs across India. It was Nationalized in the year 1969 and has been owned by the Government of India ever since.

Is dena bank is a nationalised bank or not?

IT is surprising that this question is being asked. Dena Bank was one of the fourteen banks nationalised in 1969. At that time, it was one of the bigger banks having 5th position all India.

Why the banks were nationalised?

The Government of India (GOI) adopted planned economic development for the country (India). through five year plans which came into existence in 1951. The economic plan basically aimed at social ownership of the means of production. However, commercial banks, which were in the private sector those days, failed to help the government in fulfilling these objectives by refusing to give loans to the poorer sections such as cottage industry, village industry, farmers, craft men, etc.without any security. Therefore, the government on 19th July, 1969 decided to nationalize 14 major commercial banks. The second dose of nationalisation came in April 1980 when 6 more banks were nationalized. M.J. SUBRAMANYAM, XCHANGING, BANGALORE

What is the criteria for nationalised bank in India any bank is called nationalised?

A Bank is considered Nationalized if the bank is fully or at least majorly owned by the Government of India. The term nationalized is very commonly used in india to refer to government owned banks. They are called state owned banks or public sector banks in other countries. State bank of India, Punjab National Bank etc are examples of nationalized banks in india.

Is SIB a nationalised bank?

I believe you are asking about SBI - State Bank of India. If so, yes SBI is a nationalized bank. In fact, it is the largest nationalized bank in India in terms of number of branches, customers, ATMs etc. It also has a number of subsidiary banks like State Bank of Mysore, State Bank of Travancore etc which are affiliated to SBI.