Top 10 Banks in India

We will discuss the top ten banks in India in today's article. As you know, banks play a crucial part in the financial stability and direction of the nation's economy. Banks' primary responsibilities are safeguarding savings and assisting those in need by making loans to them. There may not be a common understanding of the total number of banks in India, but after reading this article, you will be aware of all the major banks. This article contains comprehensive information on all of these banks. So let's learn about the top 10 Indian banks.

1. Axis Bank

The business, formerly known as UTI Bank, was in business from 1993 to 2007 and had its headquarters in Mumbai, Maharashtra. Some of its clients are large corporations, merchants, and small and medium-sized enterprises.

According to reports, the promoters and the promoter group own 30.81% of the company's shares. The remaining 69.19% of the shares are owned by mutual funds, international institutional investors, banks, insurance providers, businesses, and private individuals.

Among Indian private banks, Axis Bank has the most significant network of ATMs, according to recent figures. It manages an ATM in one of the world's highest locations in Sikkim, which is 4,023 meters (13,200 ft.) above sea level. Four thousand ninety-six branches, extension counters, and 12,922 ATMs are available.

Additional Details:

Headquarters: Mumbai - India

Founded: 3 December 1993

Type: Private Sector

Industry: Banking & Financial Sector

Chairperson: Amitabh Chaudhry

Products: Credit cards, finance and insurance, private banking, corporate banking, investment banking, private equity, wealth management, consumer banking, mortgage loans

Area served: Worldwide

Official Website: axisbank.com

2. HDFC Bank

HDFC Bank Limited has its headquarters in Mumbai as a bank and financial services supplier in India. By assets and market capitalization, HDFC Bank is now India's most prominent private Bank. With $112.76 billion, the firm has the third-largest market capitalization on the Indian stock markets. It ranks as India's fifteenth largest employer with little under 120,000 workers. For more than 25 years, HDFC Bank has been one of India's top private banks. In 1994, the RBI approved it as one of the country's first private-sector banks. Currently, HDFC Bank operates 5,653 branches and 16,291 ATMs in 2,917 locations.

Additional Details:

Headquarters: Mumbai - India

Founded: 1994

Type: Private Sector

Industry: Financial Services

Chairperson: Aditya Puri

Products: Banking

Area served: India

Official Website: www.hdfcbank.com

3. ICICI Bank

ICICI Bank, an Indian private sector bank, is one of the biggest in the nation. The Bank's total assets were 14.76 trillion rupees, with 5,288 branches and 14,040 ATMs around the country. A wholly-owned subsidiary of the Indian financial institution, ICICI Bank, was promoted by ICICI Limited in 1994.

ICICI Bank can provide a complete bank product and financial service portfolio to corporate and retail customers thanks to various delivery channels and group entities. The Bank's Board comprises distinguished people with years of expertise in banking, management consulting, international business, and finance. Time and time again, the globe has praised and honoured our cutting-edge financial services. The ICICI Foundation collaborates closely with the Bank in different industries. ICICI Bank is heavily involved in national economic and human development.

Additional Details:

Headquarters: Mumbai - India

Founded: 1994

Type: Private Sector

Industry: Banking & Financial Sector

Chairperson: Sandeep Bhakshi

Products: Consumer banking, mortgage loans, corporate banking, Credit cards, personal loans, finance and insurance, investment banking, wealth management, private banking, payment solutions

Area served: Worldwide

Official Website: www.icicibank.com

4. IndusInd Bank

Mumbai (Maharashtra) serves as the main administrative centre for the modern Indian Bank, IndusInd Bank Limited. Among its products, India Ind Bank Limited provides corporate, electronic, and transactional banking. In April 1994, India's first Bank was opened by Manmohan Singh, who was at the time the Union Finance Minister. India's IndusInd Bank is the country's first new-generation private Bank. Multi-channel service delivery is made possible by its technological platform. IndusInd Bank, established in 1994, caters to individual and business customers with various goods and services. IndusInd Bank has 2,015 branches and banking sites in 760 different places and 2,886 ATMs.

Additional Details:

Headquarters: Pune - India

Founded: 1994

Type: Private Sector

Industry: Banking & Financial Sector

Chairperson: Romesh Sobti

Products: Home Loans, Credit cards, Gold Loans, Car Loan, Loan Against Property

Area served: India

Official Website: indusind.com

5. State Bank of India

State Bank of India (SBI) is a statutory entity and international public sector bank in India that offers financial services. As the sole Indian Bank on the list of the biggest businesses in the world in 2020, the State Bank of India is placed 43rd worldwide and 221st overall. India's largest public sector bank has a 23% asset share and a 25% loan and deposit share. The Bank ranks as India's fifth-largest employer, with under 250,000 workers.

Additional Details:

Headquarters: Pune - India

Founded: 2 June 1806 - Bank of Calcutta

2nd June 1956 - Nationalization

1 July 1955 - State Bank of India

27 January 1921 - Imperial Bank of India

Type: Public Company (Government of India)

Industry: Financial Services, Banking

Chairperson: Shri Rajnish Kumar

Products: Consumer banking, corporate banking, securities, mortgage loans, credit cards, finance and insurance, investment banking, private banking, private equity, savings, asset management, wealth management

Area served: Mumbai - India

Official Website: www.onlinesbi.com

6. Kotak Mahindra Bank

It is a bank and financial services firm owned by Kotak Mahindra Bank Limited and is situated in Mumbai, India. According to assets and market capitalization, it is currently India's third-largest private-sector Bank. Offerings for business and retail consumers include personal finance, investment banking, life insurance, and wealth management. The Bank had 1600 branches and 2519 ATMs as of the end of February 2021.

Below are the subsidiaries of the Bank:

Kotak Mahindra Prime
Kotak Mahindra Investments
Kotak Securities
Kotak Mahindra General Insurance
Kotak Mahindra Life Insurance
Kotak AMC
Kotak capital Company
Kotak Mahindra Capital
Kotak Investment Advisors

Additional Details:

Headquarters: Mumbai - India

Founded: February 2003

Type: Private Sector

Industry: Banking & Financial Sector

Chairperson: Uday Kotak

Area served: India

Official Website: Kotak.com

7. Bank of Baroda

Customers in India can obtain banking and financial services from the Bank of Baroda (BOB). The seventh-largest nationalized Bank in India, with 132 million clients, US$218 billion in revenue, and 100 branches abroad. It placed 1145 in the 2019 Forbes Global 2000 rankings. The Ministry of Finance of India is in charge of BOB.

The Bank was established on 20 July 1908 by the Maharaja of Baroda and was given his name, Maharaja Sayajirao Gaekwad III, in the Princely State of Baroda, Gujarat. The Bank, one of the country's central banks, was nationalized on 19 July 1969 and is now an enterprise of the public sector that generates profits (PSU).

Additional Details:

Headquarters: Vadodara - India

Founded: 20 July 1908

Type: Public Sector

Industry: Banking & Financial Sector

Chairperson: Hasmukh Adhia

Products: Credit cards, wealth management, private equity, consumer banking, corporate banking, investment banking, mortgage loans, private banking, finance and insurance

Area served: India

Official Website: bankofbaroda.in

8. Yes Bank

In 2004 in Mumbai, India, Ashok Kapur and Rana Kapoor established Yes Bank Limited.

Both corporate and retail customers can access retail banking and asset management services. On 5 March 2020, the Reserve Bank of India (RBI) seized control of the Bank to stop it from collapsing under the weight of too many bad loans. By re-establishing confidence with its clients and depositors, a new leadership team under MD & CEO Prashant Kumar instantly positioned the Bank for success both within and outside. Along with Kumar, Sunil Mehta, a former member of the board of directors of Punjab National Bank, was also previously selected by the RBI to the Yes Bank board. Several institutions have funded Yes Bank under the historic Yes Bank Reconstruction Scheme 2020, organized by the new board and management. Businesses, including the Reserve Bank of India, ICICI Bank, State Bank of India, Axis Bank, and HDFC Bank, have also provided support.

Additional Details:

Headquarters: Mumbai - India

Founded: 2004

Type: Private Sector

Industry: Banking & Financial Sector

Chairperson: Ravneet Gill

Products: Debt Capital Markets, Investment Banking Solutions, Loans, Digital Banking, Yes Property Purchase Credit Card, Yes First Corporate Credit Card, Surplus and Investments

Area served: India

Official Website: yesbank.in

9. Punjab National Bank

Punjab National Bank, a nationalized Indian bank, is often referred to as PNB. It is a division of the Ministry of Finance, controlled by the Indian government, and has its main office in New Delhi. The Bank was established in 1894 and is currently the second-largest government-owned Bank in India, with commercial volumes and networks surpassing one billion dollars. The Bank has 180 million clients, more than 12,248 branches, and 13,000 or more ATMs.

Additional Details:

Headquarters: New Delhi - India

Founded: 12th April 1895

Type: Public Sector

Industry: Banking & Financial Sector

Chairperson: S. S. Mallikarjuna Rao

Products: Credit cards, mortgage loans, consumer banking, wealth management, corporate banking, investment banking, private banking, private equity, finance and insurance

Area served: India

Official Website: pnbindia.in

10. Bank of India

Indian nationalized banks include The Bank of India (BOI). It is owned by the Ministry of Finance, Government of India, and has its main office in Mumbai's Bandra Kurla Complex. The government has recognized this corporation ever since it was established in 1969. BoI has several advantages, including being a founding member of SWIFT (Society for Worldwide Interbank Financial Telecommunications), which lowers the cost of services like financial processing and communication.

The Bank of India's Website states that as of 31 March 2021, the Bank's global business was worth $1037 549 crores (US$140 billion), with 5,108 branches and 5,551 ATMs globally (including 24 overseas branches).