India's banking system is not just a network of financial institutions - it's a reflection of our diverse and evolving economy. Whether you're a student, entrepreneur, investor, or simply curious, understanding how banks in India are structured is incredibly useful. So, in this blog, I’m taking you through a full list of all banks operating in India, categorized neatly for easy reference. Let’s dive in!
🇮🇳 A Quick Glance at India’s Banking System
The Indian banking structure is broadly classified into:
- Scheduled Commercial Banks
- Co-operative Banks
- Regional and Local Area Banks
- Payments and Small Finance Banks
These banks operate under the regulation of the Reserve Bank of India (RBI) and serve diverse sectors - from tech-savvy urban customers to underserved rural populations.
Public Sector Banks (PSBs)
These are banks where the Government of India holds the majority stake. These banks have the widest reach in the country.
List of Public Sector Banks:
- State Bank of India (SBI)
- Bank of Baroda
- Punjab National Bank (PNB)
- Canara Bank
- Union Bank of India
- Bank of India
- Indian Bank
- Central Bank of India
- Indian Overseas Bank (IOB)
- UCO Bank
- Bank of Maharashtra
- Punjab & Sind Bank
Interesting Fact: SBI alone serves over 45 crore customers - that’s more than the population of many countries!
Private Sector Banks
These banks are privately owned but regulated by the RBI. They’re known for faster innovation, digital services, and aggressive growth.
Major Private Sector Banks:
- HDFC Bank
- ICICI Bank
- Axis Bank
- Kotak Mahindra Bank
- IndusInd Bank
- Yes Bank
- IDFC FIRST Bank
- Federal Bank
- South Indian Bank
- RBL Bank
- Bandhan Bank
- City Union Bank
- Tamilnad Mercantile Bank
Digital Edge: HDFC and ICICI are pioneers in digital and mobile banking services in India.
Foreign Banks in India
Operating under RBI guidelines, these banks bring global banking to Indian soil. Many are involved in corporate finance, trade services, and wealth management.
Examples:
- HSBC
- Citibank
- Standard Chartered
- Deutsche Bank
- Barclays
Small Finance Banks (SFBs)
These banks aim to promote financial inclusion by serving small business owners, low-income households, and rural populations.
List of SFBs:
- AU Small Finance Bank
- Ujjivan Small Finance Bank
- Equitas SFB
- Jana SFB
- Suryoday SFB
- ESAF SFB
- Fincare SFB
- Utkarsh SFB
- Capital SFB
- North East SFB
Payments Banks
These banks can accept deposits (up to ₹2 lakh per customer) but cannot issue loans or credit cards. Great for mobile-first users!
List of Payments Banks:
- Airtel Payments Bank
- Paytm Payments Bank
- India Post Payments Bank
- Fino Payments Bank
- NSDL Payments Bank
Regional Rural Banks (RRBs)
RRBs were created to cater to the rural economy - think agriculture, small industries, and artisans. They're jointly owned by the Central Government, the State Government, and a Sponsor Bank.
As of 2025, 28 RRBs operate across the country.
Co-operative and Local Area Banks
Co-operative Banks are community-based banks owned by their members, prevalent especially in smaller towns and rural areas.
Local Area Banks (LABs):
- Coastal Local Area Bank
- Krishna Bhima Samruddhi LAB
Final Thoughts
From the global presence of SBI to the rural support of RRBs and the digital convenience of Payments Banks, India's banking system is both vast and versatile.
Whether you're planning to open a new account, prepare for banking exams, or invest in the future, this list should give you a solid foundation.