Top 10 public sector banks in India

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The banking sector in India has been growing rapidly for the past few years. There are many banks in India, as of now.  There are some banks that are going their golden periods, and then there are some banks which are even finding it hard to keep their name in the banking sector.

Quite interestingly, most of the banks in India are public sector banks. In just the case you don’t know, public sector banks are the banks in which more than 50 percent share is hold by government. Most of the people use Public Sector Banks for their banking needs. Reason is good service and trust. Here is the list of top 10 public sector banks in India.

Top 10 public sector banks in India

1. State Bank of India (SBI)

This one is the largest bank in India. It was founded on 1 July, 1955, and has been serving people since then. This bank has always been first choice of many when it comes to taking loans, thanks to low attractive interest rates charged by this bank. Around 3 lac people are making living by doing job in SBI.

2. Punjab National Bank (PNB)

This bank was founded in year 1895. Many people rely on PNB for their banking needs. Reputation of this public sector bank is just enormous. The bank has had 62,000+ employees as per 2012.

3. Bank of Baroda 

Founded in 1908, this public sector bank has been first preference of many. It runs attractive offers on loans, saving accounts etc., from time to time, so as to expand its customer base. All of its efforts has made it stand in this list of best public sector banks in India.

4. Union Bank of India

Union Bank of India has been there in the banking sector for quite some time, but it has achieved major success in the past few years. With its attractive offers, this bank has always given a tough competition to other banks in India.

5. Bank of Maharashtra 

It was founded in 1935. The main headquarter is in Pune, India. The customer count graph has been following up curve for past few years, and this growth rate is expected to increase rapidly in the years to come.

6. IDBI Bank

This bank was founded in 1964, and has more than 1.50 lac employees in it. It’s because of combined efforts and hard work of these employees that this bank is shining in this list of best public sector banks in India.

7. Bank of India

Bank of India has been into the banking sector since 1906. With a no. of services to offer, this bank has earned a huge customer base. I’ve been a saving account holder in this bank. I must say that the employees are hard-working, and their service is just incredible.

8. Canara Bank

This bank has near 50,000 employees, and came into existence in year 1969. It offers conusmer banking, commercial banking, and no. of other products.

9. Corporation Bank

Corporation Bank, with rapid progress made in the last few years, has managed to get a spot in this list of public sector banks in India.

10. Syndicate Bank

The last in this list of best public sector banks in India is ‘Syndicate Bank’. It has around 25,000 employees, and is going well in the banking sector. Competition in the banking sector is quite tough, but thanks to lucrative offers and schemes run by Syndicate Bank, that are helping it to grow.

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