You want a straight answer to a simple question: which government bank in India is the best one, for your savings account, your FD, your home loan, or your investments?
That question gets searched more than 80,000 times every three months in India. People search government banks in India, sarkari bank list, top 10 government banks in India, best government bank for savings account etc and all are asking the same query in different words.
This guide is different. You will get the complete, current list of all 12 government banks in India, their rankings by market capitalisation and loan book size, specific recommendations by use case, and the one critical comparison between government bank vs private bank that will help you decide where your money belong in 2026.
Government banks in India, also called public sector banks (PSB), sarkari banks, or nationalised banks, are banks where the Government of India holds more than 50% ownership. As of April 1, 2026, there are 12 government banks in India, reduced from 27 after a series of government-mandated mergers completed in 2020.
Here is the official sarkari bank list, all 12 government banks currently operating in India ranked by market capitalisation as of March 2026:
| Rank | Bank Name | Market Cap (₹ Crore) | Government Stake (Approx) |
|---|---|---|---|
| 1 | State Bank of India (SBI) | 10,15,000+ | 57.5% |
| 2 | Bank of Baroda | 1,68,000+ | 63.9% |
| 3 | Indian Overseas Bank (IOB)* | 1,58,000+ | 91.4% |
| 4 | Punjab National Bank (PNB) | 1,46,000+ | 73.1% |
| 5 | Union Bank of India | 1,39,000+ | 74.8% |
| 6 | Canara Bank | 1,34,000+ | 62.9% |
| 7 | Central Bank of India* | 94,000+ | 89.1% |
| 8 | Indian Bank | 86,000+ | 73.8% |
| 9 | Bank of India | 78,000+ | 73.4% |
| 10 | Bank of Maharashtra | 71,000+ | 86.5% |
| 11 | UCO Bank | 62,000+ | 90.4% |
| 12 | Punjab & Sind Bank | 48,000+ | 95.1% |
This is your definitive sarkari bank name list. Every bank above is fully government-owned, regulated by the Reserve Bank of India, and covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme which protects deposits up to ₹5 lakh per depositor per bank.
State Bank of India (SBI) is the largest government bank in India and the largest bank in the country by physical reach and customer base. While HDFC Bank competes closely in market valuation after its merger, SBI remains the Big Brother of Indian banking in terms of sheer volume and national importance.
As of April 2026, SBI's scale is unparalleled:
SBI's market capitalization officially crossed the ₹10 Lakh Crore milestone in early 2026, making it not just India's most valuable public sector company, but a global Top-10 bank by valuation. The Government of India maintains a 57.5% stake, ensuring sovereign backing that provides ultimate peace of mind to depositors.
For anyone asking which is the biggest bank in India — SBI remains the answer by almost every structural measure: assets, branch network, and rural-to-global presence to name a few measures.
Also read: List of Top Private Banks in India
Whether you need a savings account, business loan, or digital banking solutions, these banks cater to different needs. Below is a detailed overview of the best government banks in India, highlighting their strengths and market presence.
State Bank of India (SBI) is India's largest public sector bank, serving a massive base of over 53 crore customers. As a "too-big-to-fail" institution, it leads the market in retail, corporate, and digital banking innovations. SBI remains the backbone of India's financial inclusion, driving major government initiatives like Jan Dhan Yojana, Mudra loans, and the PM-Kisan scheme through its unparalleled rural and urban reach.
SBI Trailing Returns · Updated April 1, 2026
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 31.89% | ▲ 24.79% | ▲ 22.39% |
Note: Data calculated on a trailing basis as of April 1, 2026.
PNB is one of India’s oldest and most trusted government banks, serving as a primary pillar of the Indian banking system. Following its mega-merger with Oriental Bank of Commerce and United Bank of India, PNB has solidified its dominance across North and Central India. The bank is widely recognized for offering competitive interest rates on MSME funding and agricultural loans, making it the preferred choice for India's small business and farming communities.
PNB Trailing Returns · Updated April 1, 2026
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 8.06% | ▲ 30.68% | ▲ 22.18% |
Note: Data calculated on a trailing basis as of April 1, 2026.
Canara Bank is recognized as a digital pioneer among India's public sector banks. Through its flagship "Canara ai1" super-app, the bank provides a seamless digital ecosystem offering over 300+ services, from instant UPI to advanced wealth management. With a strong emphasis on technology, the bank has integrated AI-powered chatbots and video-KYC facilities to ensure high-speed customer resolution and a paperless banking experience.
Canara Bank Trailing Returns · Updated April 1, 2026
Following its strategic growth initiatives in 2024 and 2025, Canara Bank has seen immense retail participation. As of April 1, 2026, the stock has delivered solid double-digit returns across all timeframes.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 41.44% | ▲ 30.80% | ▲ 32.42% |
Note: Data calculated on a trailing basis as of April 1, 2026(Returns adjusted for corporate actions including the 2024 stock split).
Union Bank of India is a leading public sector bank known for its massive scale following its historic merger with Andhra Bank and Corporation Bank. The bank serves as a primary pillar for the Government of India’s financial inclusion initiatives, playing a crucial role in the Pradhan Mantri Awas Yojana (PMAY) and Jan Dhan Yojana. With a robust corporate and retail portfolio, it is a top choice for subsidized housing loans and diverse agricultural finance options.
Union Bank Trailing Returns · Updated April 1, 2026
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 37.55% | ▲ 37.14% | ▲ 37.52% |
Note: Data calculated on a trailing basis as of April 1, 2026.
Bank of Baroda is one of India’s largest public sector banks, maintaining a massive global footprint with a presence in over 20 countries. Following its successful merger with Vijaya Bank and Dena Bank, it has become a powerhouse in both retail and corporate banking. The bank is widely recognized for its specialized NRI services, forex transactions, and seamless digital experience through its flagship "BoB World" mobile banking ecosystem.
Bank of Baroda Trailing Returns · Updated April 1, 2026
Bank of Baroda continues to deliver consistent value to its shareholders, supported by a healthy dividend yield of 3.29% and a strong quarterly net profit of ₹5,500.66 Crore.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 10.26% | ▲ 14.28% | ▲ 27.23% |
Note: Data calculated on a trailing basis as of April 1.
Indian Bank has carved a niche for itself with a massive footprint in semi-urban and rural India, further strengthened by its successful merger with Allahabad Bank. It is a leader in agricultural credit, microfinance solutions, and financial literacy programs. Beyond its traditional roots, the bank has emerged as a digital frontrunner, being one of the first to roll out the Digital Rupee (CBDC) and offering a highly-rated mobile banking experience through its IndOASIS app.
Indian Bank Trailing Returns · Updated April 1, 2026
Indian Bank continues to be a top performer in the PSU space, maintaining excellent asset quality and delivering a solid 67.25% return over the last year.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 67.25% | ▲ 45.46% | ▲ 49.70% |
Note: Data calculated on a trailing basis as of April 1, 2026.
Indian Overseas Bank (IOB) has one of the most compelling recovery narratives in Indian banking. After years under the RBI’s Prompt Corrective Action (PCA) framework, IOB has emerged in 2026 as a lean, highly profitable entity. With a massive jump in quarterly profit growth (56.25%), the bank has successfully shifted its focus toward high-quality retail and MSME lending while maintaining a strong international presence in Southeast Asia.
IOB Trailing Returns · Updated April 1, 2026
Since the stock price consolidated to ₹32.41, the trailing returns have normalized. While the 1-year return shows a decline due to the high base effect of the previous year's rally, the bank's fundamental recovery is evident in its 56.25% quarterly profit growth.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▼ -14.03% | ▲ 13.02% | ▲ 13.84% |
Note: Data calculated on a trailing basis as of April 1, 2026.
Bank of India has a good reputation for corporate banking, offering various financial solutions for big businesses and industries. It offers trade financing, project loan and investment banking services, so a preferred partner for corporate clients.
Despite a slight dip in the last 30 days, BOI has delivered a solid 58.9% return over the past year, proving its strength as a mid-cap PSU banking leader.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 58.93% | ▲ 108.00% | ▲ 215.40% |
Note: Data calculated on a trailing basis as of March 25, 2026.
Bank of Maharashtra has emerged as one of the most efficient public sector banks in India, boasting industry-leading asset quality and low NPA ratios. While it maintains a dominant foothold in Western and Central India, its "Project 321" expansion has successfully increased its national footprint. Known for its high CASA ratio and personalized service, it is a top choice for SMEs, self-employed professionals, and retail investors looking for stability and high-yield gold loans.
Bank of Maharashtra Trailing Returns · Updated April 1, 2026
Reflecting its status as a top-performing mid-cap PSB, Bank of Maharashtra has delivered an impressive 40.16% return over the last 12 months, significantly outperforming many of its larger peers.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▲ 40.16% | ▲ 37.88% | ▲ 24.78% |
Note: Data calculated on a trailing basis as of April 1, 2026.
Central Bank of India holds a unique place in history as the first commercial bank to be wholly owned and managed by Indians, earning its reputation as a "Swadeshi" institution. With a massive footprint in rural and semi-urban India, it is a primary driver of the Jan Dhan Yojana and agricultural credit. Having successfully emerged from the RBI's PCA framework, the bank is currently focused on digital transformation and expanding its retail asset portfolio.
Central Bank of India Trailing Returns · Updated April 1, 2026
While the stock price has seen a consolidation of nearly 20% over the last year, the bank's operational performance remains exceptional, reporting a 31.23% increase in quarterly profit. This indicates a strong fundamental recovery despite short-term stock market volatility.
| 1Y Return (%) | 3Y Return (%) | 5Y Return (%) |
| ▼ -19.92% | ▲ 11.13% | ▲ 14.11% |
Note: Data calculated on a trailing basis as of April 1, 2026, based on the current market data provided.
While government bank deposits are safe, fully taxable interest (at your 20% or 30% slab) substantially reduces returns. For a tax-efficient guide to monthly income through mutual funds, see our comparison on
SIP Vs SWP: Your options, Differences And Meaning
If you are searching for a bank that no longer seems to exist, here is why. The Government of India carried out the most significant consolidation of public sector banks in history between 2019 and 2020, reducing the number of government banks from 27 to 12.
| Merged Bank | Merged Into | Year |
|---|---|---|
| Vijaya Bank | Bank of Baroda | 2019 |
| Dena Bank | Bank of Baroda | 2019 |
| Syndicate Bank | Canara Bank | 2020 |
| Allahabad Bank | Indian Bank | 2020 |
| Oriental Bank of Commerce | Punjab National Bank | 2020 |
| United Bank of India | Punjab National Bank | 2020 |
| Andhra Bank | Union Bank of India | 2020 |
| Corporation Bank | Union Bank of India | 2020 |
If you held accounts in any of these merged banks, your account automatically transferred to the anchor bank. Account numbers, IFSC codes, and debit cards were updated over a 12–18 month transition period. If you still have an old IFSC from a merged bank, contact the anchor bank for the updated details.
Also read: List of Top Private Banks in India
| Parameter | SBI | Bank of Baroda | PNB | Union Bank | Canara Bank |
|---|---|---|---|---|---|
| Savings Rate | 2.70% - 3.00% | 2.75% | 2.70% - 2.75% | 2.75% - 2.90% | 2.90% - 3.55% |
| 1-Year FD | 6.25% | 6.10% | 6.25% | 6.30% | 6.25% - 6.95% |
| Home Loan (Min) | 7.50% | 7.20% | 7.20% | 7.15% | 7.15% |
| Net NPA | 0.39% - 0.47% | 0.61% | 0.32% - 0.70% | 0.51% - 0.64% | 0.70% - 0.81% |
Rates as of March 2026. Verify current rates on respective bank websites before making decisions.
The Net NPA Ratio is the most important number in this table for depositors and investors. It measures bad loans as a percentage of total loans. All top 5 government banks are now at their healthiest NPA levels in 10+ years — a direct result of the IBC (Insolvency and Bankruptcy Code) resolutions and improved credit underwriting since 2020.
When you look at a bank’s balance sheet, it is easy to get lost in lakhs of crores. However, to know if a bank is a Safe for your savings or a Growth Engine for your stocks, you mostly need to look at these five indicators.
For deposits below ₹3 Crore
| Institution | Special Tenure | General Rate (%) | Senior Rate (%) | Strategic Edge |
|---|---|---|---|---|
| PNB | 444 Days | 6.60% | 7.10% | Market Leader: Highest rate among top PSBs for this bucket. |
| Canara Bank | 555 Days | 6.60% | 7.50% | Senior Benefit: Exceptional 0.90% spread for seniors on this tenure. |
| Indian Bank | 400 Days (Ind Super) | 7.30% | 7.80% | Yield King: Special scheme offering peak rates valid till June 2026. |
| SBI | 444 Days (Amrit Vrishti) | 6.45% | 6.95% | Stability: "Too Big To Fail" status with consistent specialized yields. |
| Bank of Baroda | 444 Days (Square Drive) | 6.45% | 6.95% | Global Reach: 100+ international offices providing diversified backing. |
Government banks are not just safe places for your money, they are also publicly traded stocks. Here are the top 5 PSU banks by 5-year investment returns.
PSU Bank Performance (as of April 1, 2026)
Based on live market data from Screener.in and NSE
| # | Institution | Current Price (₹) | 5Y Return (est. %) | Status |
|---|---|---|---|---|
| 01 | Indian Bank | 886.00 | ~825% | Correcting: Dropped from ₹948.15 peak. |
| 02 | Canara Bank | 127.70 | ~445% | Volatile: Price adjusted from ₹142.40. |
| 03 | Union Bank | 172.19 | ~381% | Stable: Historically strong 5Y performer. |
| 04 | Bank of Baroda | 253.25 | ~355% | Consolidating: Below its March 25th level. |
| 05 | Bank of Maharashtra | ~62.50 | ~340% | Growth Value: Maintaining top 5 position. |
At Lakshmishree, we recommend balancing these high-growth equities with Tax-Efficient SWP Plans. This strategy helps offset the fully taxable nature of traditional interest, ensuring your wealth grows without being eroded by high tax slabs.
Note: Data compiled from Screener.in and RBI Data Services as of April 1, 2026. Managed by Lakshmishree Intelligence.
Choosing the right government bank in India depends on your financial needs, banking habits, and the services you value most. While all PSU banks are government-backed and reliable, each has unique strengths that may suit different users.
Identify the "Sparkling Opportunity" in the banking rally. Join Lakshmishree for institutional-grade insights and active portfolio growth.
Government banks in India are public sector banks where the Indian government owns a majority stake, also called PSU banks or Sarkari Banks. They operate under the Ministry of Finance and RBI rules, providing banking access to urban and rural customers.
These banks play a vital role in financial inclusion by offering savings accounts, loans, fixed deposits, and welfare-linked schemes. They also support farmers, small businesses, and students through various government programs.
India’s banking sector includes several types of banks catering to different needs:
Also Read: Best Banks in India
This is the question behind most searches - "which bank is best in India" almost always means: should I bank with a government bank or a private bank like HDFC, ICICI, or Kotak?
The honest answer depends on what you need: When deciding between Sarkari banks and private banks in India, it's important to understand the key differences in terms of stability, customer service, digital features, and loan approvals.
Your priority is absolute safety of deposits.
While all banks are RBI-regulated and DICGC-covered up to ₹5 lakh, the Government of India has an implicit obligation to stand behind government banks. In the last 75 years, not a single government bank depositor has lost money. This is a track record no private bank can match simply because they have not existed as long, so faith on government bank is long standing.
You need the lowest-cost loans.
Government banks particularly for home loans to government employees and farmers — often offer rates 25–50 basis points lower than comparable private bank products. PNB and Union Bank specifically run schemes for government employees at rates that private banks cannot match structurally.
You need rural or semi-urban access.
Government banks have the deepest physical presence across India's 640,000+ villages. If you operate in a location where HDFC or Kotak has no branch or ATM, SBI, Canara, or Bank of India almost certainly does.
Government Banks: When You value the PM Jan Dhan infrastructure. Zero-balance accounts, Atal Pension Yojana, PM Fasal Bima Yojana, and most government benefit transfer schemes operate through government bank accounts.
You prioritise digital banking experience.
HDFC Bank's mobile app, ICICI iMobile, and Kotak 811 consistently outperform government bank apps on transaction speed, interface design, and feature depth. If you are an urban professional making 20+ digital transactions per month, private banks offer a measurably better experience.
You need faster loan processing.
Private banks process home loan and personal loan applications 30–50% faster on average than government banks, which have more documentation requirements and committee-based approvals.
You have a premium banking relationship.
For high-value customers with ₹10 lakh+ average quarterly balance, private banks offer relationship managers, premium credit cards, and personalised services that government banks' standard branches do not match.
| Comparison Factor | Government Banks (PSBs) | Private Sector Banks | The Winner |
| Trust & Safety | Sovereign Guarantee: Majority-owned by Govt. Highest deposit safety. | Market-Dependent: RBI regulated but privately owned. | Govt Banks |
| Digital Banking | Improving: SBI YONO and Canara ai1 are catching up rapidly. | Superior: HDFC/ICICI set the global standard for UX. | Private Banks |
| Branch Network | Massive Reach: 23,000+ branches (SBI). Rural dominance. | Urban Focus: Concentrated in Metro and Tier-1/2 cities. | Govt Banks |
| Loan Speed | Slower: Stringent verification (7–21 days). | Fastest: Flexible and quick disbursal (1–7 days). | Private Banks |
| Interest Rates | Competitive: Lower rates for Home/Agri via govt control. | Flexible: Market-driven; often slightly higher. | Govt Banks |
| Govt Schemes | Fully Integrated: Best for PM Kisan, Jan Dhan, and Mudra. | Limited: Very few offer full rural scheme access. | Govt Banks |
| 5Y Stock Returns | Explosive: Indian Bank (862%) is a sector multi-bagger. | Steady: HDFC/Kotak offer consistent but lower growth. | Govt Banks |
Note: Data as of April 01, 2026.
Government banks are best for those looking for long-term security and lower fees, while private banks excel in fast service and digital innovation.
The largest government bank in India is State Bank of India (SBI) by every metric such as market capitalisation, branch network, customer base, and total deposits. With over ₹9 lakh crore market capitalisation and nearly 50 crore customers as of 2026. SBI is not only India’s oldest public sector bank but also the most trusted bank name in the banking sector.
It offers a wide range of services like savings accounts, loans, digital banking, and corporate finance across urban and rural areas. With more than 23,000 branches and 65,000+ ATMs, it has the largest physical network among all banks in India.
SBI Status Update (April 1, 2026)
| Metric | Updated Status (Apr 1, 2026) | Verified Significance |
|---|---|---|
| Market Cap | ₹9,08,124 Cr | Still the 4th largest Indian company by valuation. |
| Branches | 23,085+ | Remains the largest network in India. |
| ATMs | 63,580+ | Largest ATM/ADWM network; 30% market share. |
| Customers | 50 Crore+ | Serving over 1/3rd of India's population. |
| CMP | ₹1,018.00 | Retraced ~3.7% from the March 25 peak of ₹1,060.60. |
Also Read: Best Banks in India
There are 12 government banks in India as of 2026. These banks are also called public sector banks (PSBs), where the Indian government holds more than 50% ownership. Earlier, there were 27 government banks in the country, but after multiple mergers between 2017 and 2020, the total number came down to 12.
This move helped in improving the efficiency, reducing costs, and making Indian public banks stronger. All these 12 banks now play a key role in supporting government schemes, rural banking, and digital inclusion across the country.
Government banks not only offer reliable banking services but also provide strong investment opportunities through their publicly traded shares. Here’s a list of the top 5 government banks in India based on their 5-year stock returns:
| Rank | Bank Name | Current Market Price (CMP) ₹ | 5-Year Return (%) |
| 1 | Indian Bank | ₹888.10 | ▲ 49.70% |
| 2 | Union Bank of India | ₹171.80 | ▲ 37.52% |
| 3 | Canara Bank | ₹127.35 | ▲ 32.42% |
| 4 | Bank of Baroda | ₹253.50 | ▲ 27.23% |
| 5 | Bank of Maharashtra | ₹64.88 | ▲ 24.78% |
Among the best-performing PSU banks, Indian Bank and Bank of Maharashtra have delivered exceptional returns to shareholders, making them attractive options for long-term investors looking at public sector banks in India.
Also read: Best Banks in India 2026
Every government bank allows account opening through both branch and online channels. The process is standardised by RBI regulations.
Documents required: Aadhaar card (mandatory), PAN card, recent passport-size photograph, and address proof (if different from Aadhaar).
Minimum balance: Most government banks have zero minimum balance for basic savings accounts (BSBD accounts). Regular savings accounts require ₹1,000–₹3,000 depending on the bank and branch location. SBI's regular savings account requires ₹3,000 minimum quarterly balance at urban branches.
Online account opening: SBI, Bank of Baroda, PNB, and Canara Bank all offer end-to-end online account opening with video KYC. The process takes 15–30 minutes and provides a working account number instantly, with the debit card arriving within 7–10 days.
For Demat account and stock market access linked to your government bank account, Lakshmishree provides seamless 3-in-1 account setup — savings account, Demat account, and trading account — with your government bank as the primary settlement bank. This is particularly valuable for government employees who want to start investing while maintaining their existing banking relationships.
Every deposit in every government bank in India either in savings account, FD, current account, recurring deposit, is insured up to ₹5 lakh per depositor per bank under the Deposit Insurance and Credit Guarantee Corporation (DICGC), a wholly-owned subsidiary of the RBI.
This means if you have ₹3 lakh in a savings account and ₹2 lakh in an FD at the same government bank, your total ₹5 lakh is fully insured. If you have ₹8 lakh at a single bank, ₹5 lakh is insured and ₹3 lakh carries risk.
The practical implication: distribute deposits above ₹5 lakh across multiple banks — not multiple branches of the same bank, but different banks entirely. Each bank gives you a separate ₹5 lakh cover.
For government bank depositors specifically, the additional comfort is the implicit government guarantee. While the DICGC formal cover is ₹5 lakh, the Government of India has never allowed a government bank to fail or depositors to lose money. This informal backstop is a genuine reason why millions of Indians trust sarkari banks with their life savings.
The landscape of Indian banking has undergone a historic transformation. In 2026, the Government banks in India or Sarkari Banks of India are no longer defined by long queues and legacy systems, but by record-breaking profitability, aggressive digital adoption, and world-class investment returns.
Whether you are a conservative saver seeking the ultimate sovereign shell of the State Bank of India, a tech-savvy user looking for the AI-driven ease of Canara Bank, or an investor hunting for the Alpha returns of Indian Bank, the public sector offers a tailored solution for every financial goal.
Institutional Reading & Resources:
For most customers, State Bank of India (SBI) is the best government bank in India due to its unmatched branch network (23,000+), digital banking quality (YONO app), and government scheme integration. For investors, Indian Bank is the best PSU bank stock with 862% 5-year returns.
As of 2026, there are 12 public sector banks in India. This number decreased from 27 after the 2020 mergers aimed at creating larger, financially stronger institutions.
Government banks are majority-owned by the Government of India (50%+ stake) and regulated by RBI and the Ministry of Finance. Private banks are owned by private shareholders. Government banks offer higher deposit safety and wider rural access. Private banks offer faster loan approvals and superior digital services.
State Bank of India (SBI) is the largest government bank in India with a market cap of ₹9,76,091 crore, over 50 crore customers, 23,000+ branches, and 63,580+ ATMs as of March 2026.
As of March 2026, Canara Bank and PNB lead PSU rates with 7.10%–7.50% for seniors on special 444/555-day tenures. While SBI offers maximum stability and reach, Canara dominates in digital tech, and Bank of Baroda remains the top choice for NRI services and international banking.
Yes. Government bank deposits are among the safest in India. First, DICGC (Deposit Insurance and Credit Guarantee Corporation) insures up to ₹5 lakh per depositor per bank. Second, being government-owned, there is an implicit sovereign guarantee that the government will not let a major PSU bank fail.
Punjab National Bank (PNB) and Union Bank of India are widely considered the best PSU banks for MSME and business loans, offering dedicated MSME banking desks, competitive interest rates, and quick processing for small business financing.
Sarkari Bank is the Hindi term for government bank or public sector bank. It refers to any bank where the Government of India holds more than 50% of the shares. All 12 PSU banks listed in this article are Sarkari Banks.
Canara Bank is a government bank. The Government of India holds 62.9% ownership. It was created by the merger of the original Canara Bank and Syndicate Bank in 2020.
Yes. Bank of Baroda is a government bank with the Government of India holding 63.9% stake. It was the first major banking merger of the consolidation wave, absorbing Vijaya Bank and Dena Bank in 2019.
Union Bank of India, Bank of Baroda, and PNB all offer home loan rates starting below SBI's standard rate. For specific amounts and tenures, Union Bank at 8.35% start rate edges out SBI's 8.50% start rate. However, for government employees using PLI or other salary-linked products, SBI often has the best all-in cost.
Disclaimer: This article is intended for educational purposes only. Please note that the data related to the mentioned companies may change over time. The securities referenced are provided as examples and should not be considered as recommendations.
