The term public sector banks is used commonly in India. This refers to banks that have their shares listed in the stock exchanges NSE and BSE and also the government of India holds majority stake in these banks. They can also be termed as government owned banks.
State Bank of India is the largest public sector bank in India
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They both refer to one and the same. A public sector bank is also called a nationalized bank. It means that the government of the nation is the sole owning authority of the bank and it governs the functioning of the bank. Even if the bank declares bankruptcy the government holds the responsibility of returning all the money that was deposited by the customers.
A public sector 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.
ICICI Bank is a private sector bank. ICICI Bank is India's largest private sector bank and is one of the top 5 big banks in the country. It has around 2000 branches across the country and serves millions of customers.
State Bank of India is the largest public sector bank in India
other publick sector bank
A scheduled bank is a private sector bank given a schedule status by the RBI while a Public sector bank is a government undertaking bank .Some scheduled bank were nationalised to merge with other public sector bank or operate independently as government undertaking banks.
icici is a private sector bank,Punjab national bank is a public sector bank
dena bank
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No. Oriental Bank of Commerce is a Public Sector Bank. visit http://www.obcindia.co.in for more details about this bank.
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.
They both refer to one and the same. A public sector bank is also called a nationalized bank. It means that the government of the nation is the sole owning authority of the bank and it governs the functioning of the bank. Even if the bank declares bankruptcy the government holds the responsibility of returning all the money that was deposited by the customers.
bank of baroda
A public sector bank in India is a bank that is fully or majorly owned by the government of India. The government in most cases owns 100% rights in the bank in some cases atleast 80% or more stake in the bank thereby making them a public sector or government owned bank.
SBI