How Many Nationalised Banks Are There in India?
Key Takeaways
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As per the Reserve Bank of India, India has 11 nationalised banks today. When we add the State Bank of India (SBI) to this group, the total number of Public Sector Banks (PSBs) in India becomes 12.
The number of nationalised banks has come down over the years because of bank mergers. In April 2020, the government merged 10 banks into 4 big banks.
Bank nationalisation in India happened in two main rounds, one in 1969 and one in 1980, as confirmed by the Reserve Bank of India (RBI).
As of 2026, India has 11 nationalised banks. These banks, along with the State Bank of India, make up the full list of 12 Public Sector Banks in the country. This list and the names of all banks have been confirmed using the official website of the Reserve Bank of India (RBI).
In this article, you will learn the full list of nationalised banks, how the number changed after recent mergers, the difference between a nationalised bank and a public sector bank, and the history behind bank nationalisation in simple words.
What is a Nationalised Bank?
A Nationalised bank is a bank that was once owned by private individuals or companies but was later taken over by the Government of India.
After the takeover of any bank, the Government becomes the owner of that bank, which means now that particular bank comes at nationalised bank, and usually the government holds more than a 50 per cent shareholding.
The main goal behind nationalisation was to make sure that banks worked for the benefit of common people, farmers, and small businesses, not just for profit.
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Category
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Number
|
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Nationalised Banks (excluding SBI)
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11
|
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State Bank of India (SBI)
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1
|
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Total Public Sector Banks (PSBs)
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12
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List of Nationalised Banks in India
Here is the complete list of all 11 nationalised banks in India, along with their head office location.
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Sr. No.
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Name of the Bank
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Head Office
|
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1
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Bank of Baroda
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Vadodara, Gujarat
|
|
2
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Bank of India
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Mumbai, Maharashtra
|
|
3
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Bank of Maharashtra
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Pune, Maharashtra
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|
4
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Canara Bank
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Bengaluru, Karnataka
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|
5
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Central Bank of India
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Mumbai, Maharashtra
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|
6
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Indian Bank
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Chennai, Tamil Nadu
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|
7
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Indian Overseas Bank
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Chennai, Tamil Nadu
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8
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Punjab National Bank
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New Delhi
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|
9
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Punjab & Sind Bank
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New Delhi
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10
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UCO Bank
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Kolkata, West Bengal
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|
11
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Union Bank of India
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Mumbai, Maharashtra
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Why Is SBI Not Counted as a Nationalised Bank?
Many of you have doubt that If SBI is owned by the Government of India, then why is SBI not counted as a Nationalised Bank, like the other 11 banks are considered as Nationalised Banks?
As we know, SBI was formed under a special law called the State Bank of India Act, 1955, when the government took over the Imperial Bank of India.
Because of this separate history, the RBI lists SBI under its own category and lists the other 11 banks under the heading "Nationalised Banks". So when people ask how many nationalised banks there are in India, the correct answer is 11. But when people ask how many Public Sector Banks are there, the correct answer is 12, since SBI is also fully owned by the government.
List of All 12 Public Sector Banks in India
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Sr. No.
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Name of the Bank
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1
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Bank of Baroda
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|
2
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Bank of India
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|
3
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Bank of Maharashtra
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|
4
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Canara Bank
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5
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Central Bank of India
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|
6
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Indian Bank
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7
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Indian Overseas Bank
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8
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Punjab & Sind Bank
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9
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Punjab National Bank
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10
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State Bank of India
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11
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UCO Bank
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12
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Union Bank of India
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History of Bank Nationalisation in India
Bank nationalisation in India took place in two phases. The aim was to bring banking services to villages, farmers, and small traders, who were often ignored by private banks at that time.
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Phase
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Year
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Number of Banks Nationalised
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Reason
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First Phase
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1969
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14 major banks
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Banks with deposits above a fixed limit were taken over to support rural credit and small industries
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|
Second Phase
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1980
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6 more banks
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Banks with deposits above 200 crore rupees were taken over to widen banking reach further
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This means a total of 20 banks were nationalised across both phases. Over time, due to mergers, this number has gone down to 11.
How the Number Came Down: Bank Mergers Explained
Many students get confused because older books mention 19 or 20 nationalised banks, while the current number is only 11. This happened because the government merged several banks together to make them stronger and more efficient.
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Bank That Stayed
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Banks Merged Into It
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Year of Merger
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Bank of Baroda
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Vijaya Bank, Dena Bank
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2019
|
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Punjab National Bank
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Oriental Bank of Commerce, United Bank of India
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2020
|
|
Canara Bank
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Syndicate Bank
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2020
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Union Bank of India
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Andhra Bank, Corporation Bank
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2020
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Indian Bank
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Allahabad Bank
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2020
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After these mergers, the count of nationalised banks dropped from 19 to 11. Six banks, namely Indian Overseas Bank, UCO Bank, Bank of Maharashtra, Punjab & Sind Bank, Bank of India, and Central Bank of India, did not merge with any other bank and continue to work as separate banks.
Is IDBI Bank a Nationalised Bank?
Some students also ask if IDBI Bank is a nationalised bank. As per the current RBI list, IDBI Bank is not classified as a nationalised bank or a public sector bank. After the Life Insurance Corporation of India (LIC) became the majority shareholder in IDBI Bank, the RBI moved it under the private sector bank category. This is an important point to remember for exams.