TUFF
function of public sector in india
State Bank of India is the largest public sector bank in India
State Bank of India
Public sector banks are banks that are owned by the government of India. The most important use of public sector banks is the fact that, it is used by the government to dispense the pension amounts for the retired employees of state and central government if India.
SBI
The first nationalized or public sector bank of India was State Bank of India. It was nationalized in the year 1955. Subsequently many banks were nationalized in the year 1969 and some more in 1980. SBI is also the largest bank in India.
SBI
26%
Indian Railways
State Bank Of India
State Bank of India and its subsidiaries, all nationalized banks.
Public Sector Enterprises (PSEs) form the subset of Public Sector Undertakings (PSUs). In India, PSUs are classified as PSEs, Central PSEs and Public Sector Banks. CPSEs are further classified as 'strategic' and 'non-strategic'. Public Sector Banks include Financial Institutions (LIC, UTI etc.) as well. According to the Annual Survey Report (2010-11) of PSUs, there are 248 CPSEs in India as of March 31, 2011.