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List of Scheduled Banks in India (2022)

List of Scheduled Banks in India

List of Scheduled Banks in India

In India, banks play a vital role in the country’s banking and financial system. These banks are regulated by the RBI and are subject to specific regulations and requirements. Scheduled banks in India include both public sector banks, private sector banks, and foreign banks operating in the country. They provide a wide range of banking services to individuals, businesses, and other organizations. Let’s take a look at the list of scheduled banks in India that provide a wide range of financial services and play a crucial role in promoting economic growth and development in the country.

What is a Bank?

A bank is a financial institution that handles various financial transactions, including deposits, withdrawals, loans, and credit activities. It facilitates the flow of funds by providing loans to borrowers and collecting deposits from individuals and businesses. Additionally, banks play a crucial role in the creation and circulation of currency.

The banking sector of India can be classified into segments, which are-

  • Scheduled Banks (that were added in the second schedule of the RBI Act, 1934)
  • Non-Scheduled Banks (not covered in the second schedule of the RBI Act,1934)

What is a Scheduled Commercial Bank?

Scheduled banks are financial institutions that have been granted a special status by the Reserve Bank of India (RBI) based on specific criteria outlined in the RBI Act of 1934 and the Banking Regulation Act of 1949. These banks are listed in Schedule II of the Reserve Bank of India Act and represent the majority of banks operating under the jurisdiction of the central bank.

In order to qualify as a scheduled bank, the institution must meet certain requirements, such as having a minimum paid-up capital and raised funds of at least Rs. 5 lakhs.

Being a scheduled bank also entails membership in clearing houses, and these banks are responsible for maintaining an average daily cash reserve ratio with the central bank. Furthermore, scheduled banks in India are authorized by the RBI to issue loans at bank rates.

Some of the facilities that schedule banks in India get are:

  • They are entitled to getting debts/loans on bank rates from the RBI.
  • They also get the amenity of the rediscount of first-class exchange bills from RBI. This advantage is given by the RBI only if the Scheduled Banks deposit average daily cash with the RBI and presents the recurring statements under the provision of RBI Act, 1934 and Banking Regulation Act, 1949.
  • Scheduled Banks automatically get the membership of the clearinghouse.

Types of Scheduled Banks in India

Scheduled banks can be further sub-divided into:

  • Scheduled Commercial Public Sector Banks
  • Old Private Banks
  • New Private Sector Banks
  • SBI and its associates
  • Scheduled Foreign Banks in India
  • Scheduled Commercial Private Sector Banks

List of Scheduled Commercial Banks of India

person counting money

Scheduled banks in India encompass a wide range of financial institutions, including nationalized, cooperative, international, and regional rural banks. Familiarizing oneself with the extensive list of scheduled banks in India can provide valuable insights into their operations and significance.

1. Scheduled Public Sector Banks

There are 12 public sector banks in India, where the government owns more than 50% of the stock, making it the major stakeholder. However, it is worth noting that the number of public sector banks has decreased from 27 through various mergers.

Below is the list of all the public sector banks along with some important information about them:

Name of Bank Government Shareholding Merged Banks Branches Established Headquarter Total Assets Revenues
Bank of Baroda 63.97%
  • Vijaya Bank
  • Dena Bank
8546 1908 Vadodara, Gujarat ₹14585.62 billion ₹996.14 billion
Bank of India 81.41% 5,100 1906 Mumbai, Maharashtra ₹3798.85 billion ₹217.7 billion
Bank of Maharashtra 90.97% 2203 1935 Pune, Maharashtra ₹2676.5 billion ₹181.78 billion
Canara Bank 78.52% Syndicate Bank 9706 1906 Bengaluru, Karnataka ₹12269.8 billion ₹1110 billion
Central Bank of India 93.08% 4,528 1911 Mumbai, Maharashtra ₹3592.96 billion ₹270.9 billion
Indian Bank 79.86%  Allahabad Bank 5787 1907 Chennai, Tamil Nadu ₹10947.5 billion ₹450 billion
Indian Overseas Bank 96.38% 3376 1937 Chennai, Tamil Nadu ₹2993.7 billion ₹235.2 billion
Punjab and Sind Bank 98.25% 1,553 1908 New Delhi, Delhi ₹1210.67 billion ₹265.19 billion
Punjab National Bank 73.15%
  • Bharat Bank Ltd.
  • Universal Bank of India
  • Indo-Commercial Bank
  • Hindustan Commercial Bank
  • New Bank of India
  • Nedungadi Bank
  • Oriental Bank of Commerce
  • United Bank of India
10077 1894 New Delhi, Delhi ₹9319.6 billion ₹927.4 billion
State Bank of India 81.29%
  • State Bank of Bikaner & Jaipur
  • State Bank of Hyderabad
  • State Bank of Indore
  • State Bank of Mysore
  • State Bank of Patiala
  • State Bank of Saurashtra
  • State Bank of Travancore
  • Bhartiya Mahila Bank
22,210 1955 Mumbai, Maharashtra ₹49875 billion ₹4733.78 billion
UCO Bank 95.39% 3120 1943 Kolkata, West Bengal ₹3007.02 billion ₹181.66 billion
Union Bank of India 83.49%
  • Andhra Bank
  • Corporation Bank
8500+ 1919 Mumbai, Maharashtra ₹19276.21 billion ₹498.06 billion

Also Read: List of Banks in India

2. Scheduled Private Sector Banks

There are a total of 21 private sector banks that have significant private ownership and offer a range of banking and financial services to their customers. These banks have the highest level of private entity stake.

There are two kinds of private sector banks:

  • Old Private Sector Banks (came into existence before 1968)
  • New Private Sector Banks (incorporated after 1968)
Sr. No Name of the Bank Branches Establishment Headquarter
1 Axis Bank 5604 1993 Mumbai, Maharashtra
2 Bandhan Bank 1100+ 2015 Kolkata, West Bengal
3 CSB Bank 704 1920 Thrissur, Kerala
4 City Union Bank 725 1904 Kumbakonam, Tamil Nadu
5 DCB Bank 427 1930 Mumbai, Maharashtra
6 Dhanlaxmi Bank 271 1927 Thrissur city, Kerala
7 Federal Bank 1282 1931 Aluva, Kochi
8 HDFC Bank 7821 1994 Mumbai, Maharashtra
9 ICICI Bank 6471 1994 Mumbai, Maharashtra
10 IDBI Bank 1892 1964 Mumbai, Maharashtra
11 IDFC FIRST Bank 834 2015 Mumbai, Maharashtra
12 IndusInd Bank 2606 1994 Pune, Maharashtra
13 Jammu & Kashmir Bank 957 1938 Srinagar, Jammu, and Kashmir
14 Karnataka Bank 901 1924 Mangaluru, Karnataka
15 Karur Vysya Bank 782 1916 Karur, Tamil Nadu
16 Kotak Mahindra Bank 1364 2003 Mumbai, Maharashtra
17 Nainital Bank 168 1922 Nainital, Uttarakhand
18 RBL Bank 517 1943 Mumbai, Maharashtra
19 South Indian Bank 941 1929 Thrissur, Kerala
20 Tamilnad Mercantile Bank 509 1921 Tuticorin, Tamilnadu
21 YES Bank 3318 2004 Mumbai, Maharashtra

Also Read: List of Private Banks in India 

3. Scheduled Foreign Banks in India

India is home to 45 foreign banks, which are global financial institutions that must adhere to the regulations and guidelines of both their home country and India. These banks have certain restrictions on the amount of loans they can provide, which are determined by the capital of their partner banks. However, compared to domestic subsidiary banks, foreign banks have the ability to offer a higher volume of loans.

Here is the list of foreign banks in India:

  • AB Bank Ltd.
  • Abu Dhabi Commercial Bank Ltd.
  • American Express Banking Corporation
  • Australia and New Zealand Banking Group Ltd.
  • Barclays Bank Plc.
  • Bank of America
  • Bank of Bahrain & Kuwait BSC
  • Bank of Ceylon
  • Bank of China
  • Bank of Nova Scotia
  • BNP Paribas
  • Citibank N.A.
  • Cooperatieve Rabobank U.A.
  • Credit Agricole Corporate & Investment Bank
  • Credit Suisse A.G
  • CTBC Bank Co., Ltd.
  • DBS Bank India Limited*
  • Deutsche Bank
  • Doha Bank Q.P.S.C
  • Emirates Bank NBD
  • First Abu Dhabi Bank PJSC
  • FirstRand Bank Ltd
  • HSBC Ltd
  • Industrial & Commercial Bank of China Ltd.
  • Industrial Bank of Korea
  • J.P. Morgan Chase Bank N.A.
  • JSC VTB Bank
  • KEB Hana Bank
  • Kookmin Bank
  • Krung Thai Bank Public Co. Ltd.
  • Mashreq Bank PSC
  • Mizuho Bank Ltd.
  • MUFG Bank, Ltd.
  • NatWest Markets Plc
  • PT Bank Maybank Indonesia TBK
  • Qatar National Bank (Q.P.S.C.)
  • Sberbank
  • SBM Bank (India) Limited*
  • Shinhan Bank
  • Societe Generale
  • Sonali Bank Ltd.
  • Standard Chartered Bank
  • Sumitomo Mitsui Banking Corporation
  • United Overseas Bank Ltd
  • Woori Bank

Also Read: Types of Joint Accounts Available in Banks in India

4. Scheduled Cooperative banks of India

heap of money

Similar to other banks, these banks are subject to regulation and oversight by the RBI, operating under the purview of the Banking Regulations Act of 1949. They offer financial assistance to small enterprises in urban and rural regions.

According to reports, these banks have played a significant role in fostering the growth of small businesses, contributing to a substantial 67% increase in their presence in rural areas. Additionally, they account for 46% of the overall funding allocated to rural businesses, supporting various sectors such as processing, housing, warehousing, transport, and dairy.

There are two types of cooperative banks:

A. State Co-operative Banks

Here is the list of State Co-operative scheduled banks in India:

  • The Andhra Pradesh State Co-operative Bank Ltd.
  • The Bihar State Co-operative Bank Ltd.
  • The Chhatisgarh Rajya Sahakari Bank Maryadit
  • The Goa State Co-operative Bank Ltd.
  • Gujarat State Co-operative Bank Ltd.
  • The Haryana State Co-operative Apex Bank Ltd.
  • The Himachal Pradesh State Co-operative Bank Ltd.
  • The Karnataka State Co-operative Apex Bank Ltd.
  • The Kerala State Co-operative Bank Ltd.
  • The Madhya Pradesh Rajya Sahakari Bank Maryadit
  • The Maharashtra State Co-operative Bank Ltd.
  • The Odisha State Co-operative Bank Ltd.
  • The Puducherry State Co-operative Bank Ltd.
  • The Punjab State Co-operative Bank Ltd.
  • The Rajasthan State Co-operative Bank Ltd.
  • The Tamil Nadu State Apex Co-operative Bank Ltd.
  • The Telangana State Cooperative Apex Bank Ltd.
  • The Uttar Pradesh Co-operative Bank Ltd.
  • The Uttarakhand State Co-operative Bank Ltd.
  • The West Bengal State Co-operative Bank Ltd.
  • Tripura State Co-operative Bank Ltd.
  • The Delhi State Cooperative Bank Ltd.
  • The Meghalaya Co-operative Apex Bank Ltd.
  • Sikkim State Co-operative Bank Ltd.

B. Urban Co-operative Banks

Here is the list of urban-co-operative scheduled banks in India:

  • Ahmedabad Mercantile Co-Op Bank Ltd.
  • Kalupur Commercial Coop.Bank Ltd.
  • Mehsana Urban Co-Op Bank Ltd.
  • Nutan Nagarik Sahakari Bank Ltd., Ahmedabad
  • Rajkot Nagrik Sahakari Bank Ltd.
  • SBPP Co-operative Bank Ltd., Killa Pardi, Dist Valsad (Gujarat)
  • Surat Peoples Coop Bank Ltd.
  • Amanath Co-operative Bank Ltd. Bangalore
  • Andhra Pradesh Mahesh Co-Op Urban Bank Ltd.
  • Indian Mercantile Co-operative Bank Ltd.
  • Abhyudaya Co-operative Bank Ltd., Mumbai
  • Apna Sahakari Bank Ltd.
  • Bassein Catholic Co-operative Bank Ltd.
  • Bharat Co-operative Bank (Mumbai) Ltd., Mumbai
  • Bharati Sahakari Bank Limited.
  • Bombay Mercantile Co-operative Bank Limited
  • Citizen Credit Co-operative Bank Ltd., Mumbai
  • Cosmos Co-operative Bank Ltd
  • Dombivli Nagari Sahakari Bank Ltd.
  • Greater Bombay Co-operative Bank Limited
  • GS Mahanagar Co-operative Bank Ltd., Mumbai
  • Jalgaon Janata Sahakari Bank Ltd.
  • Jalgaon People’s Co-operative Bank Ltd.
  • Janakalyan Sahakari Bank Ltd., Mumbai
  • Janalaxmi Co-operative Bank Ltd., Nashik
  • Janata Sahakari Bank Ltd., Pune.
  • Kallappanna Awade Ichalkaranji Janata Sahakari Bank Ltd.
  • Kalyan Janata Sahakari Bank Ltd., Kalyan
  • Kapol Co-operative Bank Ltd., Mumbai
  • Karad Urban Co-operative Bank Ltd.
  • Nagar Urban Co-operative Bank Ltd., Ahmednagar
  • Nasik Merchant’s Co-operative Bank Ltd.
  • New India Co-operative Bank Ltd., Mumbai
  • NKGSB Co-operative Bank Ltd., Mumbai
  • Pravara Sahakari Bank Ltd.
  • Rajarambapu Sahakari Bank Ltd.
  • Sangli Urban Co-operative Bank Ltd., Sangli
  • Saraswat Co-operative Bank Ltd., Bombay
  • Shamrao Vithal Co-operative Bank Ltd.
  • Solapur Janata Sahakari Bank Ltd.
  • Thane Bharat Sahakari Bank Ltd.
  • TJSB Sahakari Bank
  • Vasai Vikas Sahakari Bank Ltd.
  • Zoroastrian Co-operative Bank Ltd., Bombay
  • Nagpur Nagrik Sahakari Bank Ltd.
  • Shikshak Sahakari Bank Ltd., Nagpur.
  • The Akola Janata Commercial Co-operative Bank Ltd., Akola.
  • The Akola Urban Co-operative Bank Ltd., Akola.
  • The Khamgaon Urban Co-operative Bank Ltd., Khamgaon.
  • Goa Urban Co-operative Bank Limited.
  • P. Parsik Janata Sahakari Bank Ltd., Thane

Also Read: 20 Best Banks for Business Loan in India

5. Regional Rural Banks

Following the nationalization of banks in 1969, a group of banks emerged, and in 1975, Regional Rural Banks (RRBs) were introduced. The enactment of this law led to the establishment of 25 RRBs across various regions of the country, aiming to address the lack of credit accessibility in rural areas. These banks were primarily established to foster the growth of trade, commerce, agriculture, industry, and comparable sectors in rural regions. Currently, there are 43 RRBs in India.

State Bank’s Name Established Headquarters Branches Sponsor Bank
Andhra Pradesh Andhra Pradesh Grameena Vikas Bank 2006 Warangal, Telangana 793 State Bank of India
Andhra Pragathi Grameena Bank 2006 Kadapa, Andhra Pradesh 552 Canara Bank
Chaitanya Godavari Gramin Bank 2006 Guntur, Andhra Pradesh 219 Union Bank of India
Saptagiri Gramin Bank 2006 Chittoor, Andhra Pradesh 220 Indian Bank
Arunachal Pradesh Arunachal Pradesh Rural Bank 1983 Itanagar, Arunachal Pradesh 30 State Bank of India
Assam Assam Gramin Vikash Bank 2006 Guwahati, Assam 474 Punjab National Bank
Bihar Dakshin Bihar Gramin Bank 2019 Patna, India 1078 Punjab National Bank
Uttar Bihar Gramin Bank 2008 Muzaffarpur, India 1032 Central Bank of India
Chhattisgarh Chhattisgarh Rajya Gramin Bank 2013 Raipur 625 State Bank of India
Gujarat Baroda Gujarat Gramin Bank 2019 Vadodara 489 Bank of Baroda
Saurashtra Gramin Bank 1978 Rajkot 259 State Bank of India
Haryana Sarva Haryana Gramin Bank 2013 Rohtak, Haryana 542 Punjab National Bank
Himachal Pradesh Himachal Pradesh Gramin Bank 2013 Mandi, Himachal Pradesh 265 Punjab National Bank
Jammu And Kashmir Ellaquai Dehati Bank 1979 Srinagar, Jammu, and Kashmir (Union Territory) 116 State Bank of India
Jammu And Kashmir Grameen Bank 2009 Jammu, Jammu, and Kashmir (Union Territory) 217 J&K Bank Ltd.
Jharkhand Jharkhand Rajya Gramin Bank 2019 Ranchi 443 State Bank Of India
Karnataka Karnataka Gramin Bank 2019 Ballari, Karnataka 1142 Canara Bank
Karnataka Vikas Grameena Bank 2005 Dharwad, Karnataka 633 Canara Bank
Kerala Kerala Gramin Bank 2013 Malappuram, Kerala 634 Canara Bank
Madhya Pradesh Madhya Pradesh Gramin Bank 2019 Indore 866 Bank of India
Madhyanchal Gramin Bank 2012 Sagar, Madhya Pradesh 454 State Bank of India
Maharashtra Maharashtra Gramin Bank 2008 Aurangabad, India 391 Bank of Maharashtra
Vidarbha Konkan Gramin Bank 2013 Nagpur 318 Bank of India
Manipur Manipur Rural Bank 1981 Imphal, Manipur 28 Punjab National Bank
Meghalaya Meghalaya Rural Bank 1981 Shillong 87 State Bank of India
Mizoram Mizoram Rural Bank 1983 Aizawl, Mizoram 85 State Bank of India
Nagaland Nagaland Rural Bank 1983 Kohima 10 State Bank of India
Odisha Odisha Gramya Bank 2013 Bhubaneswar, India 549 Indian Overseas Bank
Utkal Grameen Bank 2012 Bolangir, India 442 State Bank of India
Puducherry Puduvai Bharathiar Grama Bank 2008 Pondicherry, India 43 Indian Bank
Punjab Punjab Gramin Bank 2019 Kapurthala, Punjab 419 Punjab National Bank
Rajasthan Rajasthan Marudhara Gramin Bank 2014 Jodhpur 715 State Bank of India
Baroda Rajasthan Kshetriya Gramin Bank 2013 Ajmer 833 Bank of Baroda
Tamil Nadu Tamil Nadu Grama Bank 2019 Salem, Tamil Nadu 630 Indian Bank
Telangana Telangana Grameena Bank 2014 Hyderabad, Telangana 421 State Bank of India
Tripura Tripura Gramin Bank 1976 Agartala, India 142 Punjab National Bank
Uttar Pradesh Aryavart Bank 2019 Lucknow, Uttar Pradesh 1365 Bank of India
Baroda UP Bank 2020 Ayodhya, Uttar Pradesh 2050 Bank of Baroda
Prathama UP Gramin Bank 2019 Moradabad, Uttar Pradesh 938 Punjab National Bank
Uttarakhand Uttarakhand Gramin Bank 2012 Dehradun, Uttarakhand 286 State Bank of India
West Bengal Bangiya Gramin Vikash Bank 2007 Berhampore, West Bengal 587 Punjab National Bank
Paschim Banga Gramin Bank 2007 Howrah, West Bengal 230 UCO Bank
Uttarbanga Kshetriya Gramin Bank 1977 Coochbehar, West Bengal 142 Central Bank of India

6. Scheduled Small Finance Banks

  • Au Small Finance Bank Limited
  • Capital Small Finance Bank Limited
  • Equitas Small Finance Bank Limited
  • Suryoday Small Finance Bank Limited
  • Ujjivan Small Finance Bank Limited
  • Utkarsh Small Finance Bank Limited
  • ESAF Small Finance Bank Limited
  • Fincare Small Finance Bank Limited
  • Jana Small Finance Bank Limited
  • North East Small Finance Bank Limited
  • Shivalik Small Finance Bank Limited
  • Unity Small Finance Bank Limited

7. Scheduled Payment Banks

  • India Post Payments Bank Limited
  • Fino Payments Bank Limited
  • Paytm Payments Bank Limited
  • Airtel Payments Bank Limited

Also Read: How to Open a Bank Account for a Minor in India

Difference between Scheduled and Non-Scheduled Banks

Above you saw the list of scheduled banks in India. There are many non-scheduled banks in India as well, and you might get confused with them. Hence it is imperative to understand the difference between them to have a better understanding of both.

What is a Non-Scheduled Bank?

person holding coins

Non-Scheduled Banks in India are not included in the list of banks regulated by the Reserve Bank of India Act, 1934. They are responsible for maintaining the Cash Reserve Ratio (CRR) independently. The key features of Non-Scheduled Banks are as follows:

  • They must adhere to specific guidelines set by the RBI.
  • The minimum reserve capital required may be less than INR 5 Lakhs.
  • They do not have access to interbank financial transactions and the facility of cheque clearing.

All the local area banks are called Non-Scheduled Banks. These banks are relatively smaller than the scheduled banks in India and thus have a lesser influence. Moreover, doing transactions with them can be risky because of their financial limitations.

There are 11 Non-Scheduled State Cooperative Banks as approved by RBI. Additionally, 1500 Non-Scheduled Urban Co-operative Banks as mentioned by the RBI.

Non-Scheduled banks do not get the benefits like the Scheduled banks in India. They are also not eligible for becoming the member of a clearinghouse. This means that these banks cannot do inter-bank financial transactions and the clearance of cheques.

Comparison of Scheduled and Non-Scheduled Banks in India

Criteria Scheduled Banks Non- Scheduled Banks
Meaning It is a banking company with a paid-up capital of at least 5 lakhs or more. On the contrary, these banks do not imply with the RBI’s requirements and guidelines.
Second Schedule Schedules banks are listed in the second schedule. These banks are not listed or mentioned in the second schedule.
Cash Reserve Ratio (CRR) By RBI They have to maintain it themselves.
Types Private and public sector banks, commercial banks State Co-operative banks and local banks.
Borrowing They can borrow from RBI. They can only borrow from RBI in case of an emergency situation.
Risk The risk with these banks is very little as they are financially stable and do not hurt customers’ rights. Comparatively risky to do business with them.
Membership Can apply for joining the clearinghouse. These banks are not eligible to apply for clearinghouse.
Return These banks need to file returns periodically. No clause for returns.

Also Read: Savings Account vs Current Account

Frequently Asked Questions

Q1) Which banks are scheduled banks in India?

There are two categories of Scheduled banks-

  1. Scheduled Commercial Banks
  2. Scheduled Cooperative Banks

The Scheduled Commercial Banks are further divided into four parts-

  • Public Sector Banks
  • Private Sector Banks
  • Regional Rural Banks
  • Foreign Banks

Q2) How many Scheduled Banks are there in India?

The list of Scheduled banks in India is huge; here are the details of them in short-

Public Sector Banks 12
Private Sector Banks 21
Regional Rural Banks 43
Foreign Banks 45
Scheduled Small Finance Banks 12
Scheduled Payment Bank 4
State Co-operative Banks 24
Urban Co-operative Banks 51
Total 212

There are several scheduled banks in India that play a crucial role in the country’s banking system. These banks, regulated by the Reserve Bank of India (RBI), provide various financial services to individuals, businesses, and the government. With a wide range of banking options available, individuals and businesses can access various financial products and services to meet their needs.

Recommended: Banking System in India Explained

Sushma Singh

Sushma Singh

Sushma is an expert in personal finance and business with lots of experience. She loves helping people understand how to make money online, build income without much effort, and become financially independent. Focusing on easy-to-use apps and fun games, she shows people the best ways to earn money online.

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