Nationalised Banks of India

SBI was nationalized in the year 1955.

Banking system in India is dominated by nationalized bank. The Nationalization of banks in India took place in 1969 by Ms. Indira Gandhi, the then Prime Minister.

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Fourteen Banks were nationalized on July 19, 1969. These banks were:

  1. Punjab National Bank
  2. Bank of India
  3. Union Bank of India
  4. Central Bank of India
  5. Canara Bank
  6. UCO Bank
  7. United Bank of India
  8. Indian Overseas Bank
  9. Dena Bank
  10. Allahabad Bank
  11. Bank of Maharashtra
  12. Syndicate Bank
  13. Indian Bank
  14. Bank of Baroda

The second phase of Nationalisation of Indian Banks took place in the year 1980 on April 15th. Six more banks were nationalized with deposits over 200 crore.

Banks were–

  1. Andhra Bank
  2. New Bank of India
  3. Vijaya Bank
  4. Corporation Bank
  5. Oriental Bank of Commerce
  6. Punjab & Sindh Bank

PSUs (Public Sector Banks)

In addition to 21 nationalized banks, 6 other PSBs are working in India.

  1. IDBI
  2. State Bank of Patiala
  3. State Bank of Bikaner & Jodhpur
  4. State Bank of Mysure
  5. State Bank of Travancore
  6. State Bank of Hyderabad.

REGIONAL RURAL BANKS IN INDIA

The institution of RRBs was created to meet the excess demand for Institutional credit in the rural areas, particularly among the economically and socially marginalized sections.

On October 2nd 1975, Govt. of India had established 5 RRBs in India. These were:

  1. Gorakhpur (UP)
  2. Muradabad (UP)
  3. Jaipur (Rajasthan)
  4. Bhiwani (Haryana)
  5. Malda (WB)

Once the number of RRBs in India had reached 196, but at present these are only 82 RRBs working in India. The Capital Structure of RRBs is as follows:

  • 50% with the Govt. of India
  • 15% with the State Govt.
  • 35% with the Sponsor Bank

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