List of Scheduled Banks in India (2022) (2023)

Several banks offer a plethora of services catering to the requirements of residents. In India, several types of banks are regulated and monitored by the apex bank, i.e., the Reserve Bank of India (RBI).

Banks play an important role in India as they help the economy grow plus help the retail customers, corporate and other sectors to raise funds from them, which can help them financially. The banking sector of India can be classified into segments, which are-

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

RBI, the central bank of India, makes the rules and regulations for scheduled banks in India. The list of scheduled banks in India is pretty big, and it is important to know about them as that would help you get insight into them.

List of Scheduled Banks in India (2022)

What is a Bank?

It is a financial institution that is licensed for receiving deposits and giving loans. Banking is essential for financial literacy because-

  • Safeguard your cash
  • Get your paycheck instantly using direct deposit
  • Acquire loans
  • Handle your finances – record keeping and budgeting
  • Invest your funds
  • Use debit and credit card services
  • Secure your liquid assets
  • Get interested
  • Aid financial transactions
  • Build a credit history to make a FICO credit score instrumental in obtaining funds and building wealth

What is a Scheduled Commercial Bank?

These are the banks that were encompassed in the second schedule of the RBI Act 1934. The major services that scheduled commercial bank offers are accepting deposits, granting different loans, credit and debit cards, and other such financial services. In fact, if a private or foreign bank is listed in the second schedule of the RBI Act, then that would also be a scheduled commercial bank.

The significant difference between scheduled commercial and scheduled cooperative banks is that their holding model as cooperatives are listed under the cooperative society act as cooperative credit institutions.

The paid-up capital and raised funds of these banks should be a minimum of 5 Lakh for qualifying as a scheduled bank. There are a few criteria that they should meet, like maintaining an average daily CRR balance with the central bank at the rates set by it. The major benefit to these banks is that RBI enables them to raise debts and loans at bank rates.

Types of Scheduled Banks

The list of scheduled banks in India is big enough as there are a lot of banks that come under it. All the nationalized, cooperative, international and regional rural banks are a part of scheduled banks.

Scheduled banks can be further sub-divided into-

  • Scheduled Commercial Public Sector Banks
  • SBI and its associates

Scheduled Foreign Banks in India

  • Scheduled Commercial Private Sector Banks
  • Old Private Banks
  • New Private Sector Banks

List of Scheduled Commercial Banks of India (2022)

Let us know in detail about the divisions of Scheduled Banks:

1. Scheduled Public Sector Banks

List of Scheduled Banks in India (2022) (1)

These are the banks whose more than 50% of shares are majorly owned by the government of India. Thus, the major stakeholder in PSB’s is government. There are 12 public sector banks as of 2022, but earlier, there are 27 banks that have now been merged.

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

Anchor BankGovernment

Shareholding

(Video) Types of bank, PEM-14, Banking structure in India, Schedule bank, #BankTypes #RBI #Bank

Merged BanksBranchesEstablishedHeadquarterTotal AssetsRevenues
Bank of Baroda71.60%
  • Vijaya Bank
  • Dena Bank
9,4811908Vadodara,Gujarat₹16,130 billion(US$230billion)₹422 billion(US$5.9billion)
Bank of India89.10%5,0001906Mumbai,Maharashtra₹9,030 billion(US$130billion)₹418 billion(US$5.9billion)
Bank of Maharashtra92.49%1,8971935Pune,Maharashtra₹2,340 billion(US$33billion)₹130.53 billion(US$1.8billion)
Canara Bank78.52%Syndicate Bank10,3421906Bengaluru,Karnataka₹15,203 billion(US$210billion)₹558.30 billion(US$7.8billion)
Central Bank of India92.39%4,6661911Mumbai,Maharashtra₹4,680 billion(US$66billion)₹259 billion(US$3.6billion)
Indian Bank88.06%Allahabad Bank6,1041907Chennai,Tamil Nadu₹8,080 billion(US$110billion)₹405.74 billion(US$5.7billion)
Indian Overseas Bank95.84%3,4001937Chennai,Tamil Nadu₹3,750 billion(US$53billion)₹235.2 billion(US$3.3billion)
Punjab and Sind Bank83.06%1,5541908New Delhi,Delhi₹1,710 billion(US$24billion)₹87.44 billion(US$1.2billion)
Punjab National Bank85.59%
  • Oriental Bank of Commerce
  • United Bank of India
11,4371894New Delhi,Delhi₹17,940 billion(US$250billion)₹774.22 billion(US$11billion)
State Bank of India56.92%
  • 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
24,0001955Mumbai,Maharashtra₹52,050 billion(US$730billion)₹2,110.00 billion(US$30billion)
UCO Bank94.44%4,0001943Kolkata,West Bengal₹3,170 billion(US$44billion)₹185.61 billion(US$2.6billion)
Union Bank of India89.07%
  • Andhra Bank
  • Corporation Bank
9,6091919Mumbai,Maharashtra₹14,594 billion(US$200billion)₹696.39 billion(US$9.8billion)

Also Read: List of Banks in India

2. Scheduled Private Sector Banks

List of Scheduled Banks in India (2022) (2)

These are the banks in which the private entities hold the maximum stakes. In total, there are 21 private sector banks. All the private sector banks give all sorts of banking and financial assistance to their customers. The major services that they offer are:

  • Savings Deposit
  • RD
  • Debit/ Credit Card
  • ATM
  • Home Loan
  • Education Loan
  • Personal Loan
  • Car Loan
  • Locker
  • Demat Facilities
  • Foreign Exchange Transactions
  • Insurance
  • Wealth Management
  • Net Banking

There are two kinds of private sector banks:

  1. Old Private Sector Banks (these banks came into existence before 1968)
  2. New Private Sector Banks (these banks were incorporated after 1968)

List of Private Sector Banks

Sr. NoName of the BankBranchesEstablishmentHeadquarter
1Axis Bank45281993Mumbai, Maharashtra
2Bandhan Bank670+2015Kolkata, West Bengal
3CSB Bank4171920Thrissur, Kerala
4City Union Bank700+1904Kumbakonam, Tamil Nadu
5DCB Bank3341930Mumbai, Maharashtra
6Dhanlaxmi Bank270+1927Thrissur city, Kerala
7Federal Bank12841931Aluva, Kochi
8HDFC Bank54301994Mumbai, Maharashtra
9ICICI Bank52881994Mumbai, Maharashtra
10IDBI Bank18921964Mumbai, Maharashtra
11IDFC FIRST Bank2602015Mumbai, Maharashtra
12IndusInd Bank20001994Pune, Maharashtra
13J&K Bank10381938Srinagar, Jammu, and Kashmir
14Karnataka Bank8571924Mangaluru, Karnataka
15Karur Vysya Bank7791916Karur, Tamil Nadu
16Kotak Mahindra Bank1500+2003Mumbai, Maharashtra
17Nainital Bank1501922Nainital, Uttarakhand
18RBL Bank3981943Mumbai, Maharashtra
19South Indian Bank8761929Thrissur, Kerala
20Tamilnad Mercantile Bank5091921Tuticorin, Tamilnadu
21YES Bank1000+2004Mumbai, Maharashtra

Also Read: List of Private Banks in India

3. Scheduled Foreign Banks in India

List of Scheduled Banks in India (2022) (3)

There are 45 foreign banks in India. Foreign banks are international banks that are liable to follow the rules and regulations of both the home and the host country. They have several loan limitations based on the partner banks’ capital. They can render more loans than the subsidiary banks.

Here is the list of foreign banks with branches in India:

  • AB Bank
  • Abu Dhabi Commercial Bank
  • American Express
  • Australia and New Zealand Banking Group
  • Barclays Bank Plc
  • Bank of America
  • Bank of Bahrain and Kuwait
  • Bank of Ceylon
  • Bank of China
  • Bank of Nova Scotia
  • BNP Paribas
  • Citibank India
  • Crédit Agricole Corporate and Investment Bank
  • Credit Suisse
  • CTBC Bank
  • Deutsche Bank
  • Emirates NBD
  • First Abu Dhabi Bank
  • FirstRand Bank
  • HSBC Bank India
  • Industrial & Commercial Bank of China
  • Industrial Bank of Korea
  • JPMorgan Chase
  • KEB Hana Bank
  • Kookmin Bank
  • Krung Thai Bank
  • Mizuho Corporate Bank
  • MUFG Bank
  • Qatar National Bank
  • Rabobank
  • Sberbank
  • Shinhan Bank
  • Societe Generale
  • Sonali Bank
  • Standard Chartered Bank
  • Sumitomo Mitsui Banking Corporation
  • United Overseas Bank
  • Westpac Banking Corporation
  • Woori Bank

List of foreign banks with representative offices:

  • Access Bank
  • Banco Bilbao Vizcaya Argentaria
  • Banco BPM
  • Banco de Sabadell
  • Bank of Montreal
  • Bank of Taiwan
  • Busan Bank
  • Caixa Geral de Depositos
  • Credit Industriel et Commercial
  • DNB Bank
  • DZ Bank
  • Gazprombank
  • Intesa Sanpaolo
  • National Australia Bank
  • Natixis
  • Raiffeisen Bank International
  • Skandinaviska Enskilda Banken
  • The Bank of New York Mellon
  • Toronto Dominion Bank
  • UBS AG
  • Wells Fargo Bank
  • Zurcher Kantonalbank

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

4. Scheduled Cooperative banks of India

Like the other banks, these banks are also regulated and controlled by the RBI and come under the Banking Regulations Act, 1949. These banks provide loans to small businesses in both urban and rural areas.

As per the reports, they have had a huge influence on the extension of small businesses as they account for the rise in 67% invasion in villages and account for 46% of the net funding for the rural businesses through support for processing, housing, warehousing, transport, dairy, etc.

There are two types of cooperative banks:

(Video) Difference between Scheduled Banks & Non-Scheduled Banks in India

1. Urban Co-operative Banks

List of Scheduled Banks in India (2022) (4)

Here is the list of State Co-operative Banks:

  • The Andaman and Nicobar State Co-operative Bank Ltd.
  • The Andhra Pradesh State Co-operative Bank Ltd.
  • The Arunachal Pradesh State co-operative Apex Bank Ltd.
  • The Assam Co-operative Apex Bank Ltd.
  • The Bihar State Co-operative Bank Ltd.
  • The Chandigarh State Co-operative Bank Ltd.
  • The Delhi State Co-operative Bank Ltd.
  • 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 Jammu and Kashmir State Co-operative Bank Ltd.
  • Jharkhand State Co-operative Bank Ltd.
  • The Karnataka State Co-operative Apex Bank Ltd.
  • The Kerala State Co-operative Bank Ltd.
  • The Maharashtra State Co-operative Bank Ltd.
  • The Manipur State Co-operative Bank Ltd.
  • The Meghalaya Co-operative Apex Bank Ltd.
  • The Mizoram Co-operative Apex Bank Ltd.
  • The Nagaland 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 Sikkim State Co-operative Bank Ltd.
  • The Tamil Nadu State Apex Co-operative Bank Ltd.
  • The Telangana State Cooperative Apex Bank Ltd.
  • Tripura State Co-operative Bank Ltd.
  • The Uttar Pradesh Co-operative Bank Ltd.
  • The Uttarakhand State Co-operative Bank Ltd.
  • The West Bengal State Co-operative Bank Ltd.

2. Urban Co-operative Banks

List of Scheduled Banks in India (2022) (5)

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

  • Abhyudaya Co-operative Bank Ltd
  • Ahmedabad Mercantile Co-Op Bank Limited
  • Amanath Co-operative Bank Limited
  • Andhra Pradesh Mahesh Co-Op Urban Bank Limited
  • Apna Sahakari Bank Limited
  • Bassein Catholic Co-operative Bank Limited
  • Bharat Co-operative Bank (Mumbai) Limited
  • Bombay Mercantile Co-operative Bank Limited
  • Citizen Credit Co-operative Bank Limited
  • Cosmos Bank
  • Dombivli Nagari Sahakari Bank Ltd.
  • Fingrowth Co-operative Bank Limited
  • Goa Urban Co-operative Bank Limited
  • Gopinath Patil Parsik Janata Sahakari Bank Limited
  • Greater Bombay Co-operative Bank Limited
  • GS Mahanagar Co-operative Bank Limited
  • Indian Mercantile Co-operative Bank Limited
  • Jalgaon Janata Sahakari Bank Limited
  • Jalgaon People’s Co-operative Bank Limited
  • Janakalyan Sahakari Bank Limited
  • Janalaxmi Co-operative Bank Limited
  • Janata Sahakari Bank Limited
  • Kallappanna Awade Ichalkaranji Janata Sahakari Bank Limited
  • Kalupur Commercial Co-op Bank Limited
  • Kalyan Janata Sahakari Bank Limited
  • Karad Urban Co-operative Bank Limited
  • Mapusa Urban Co-operative Bank of Goa Limited
  • Nagar Urban Co-operative Bank Limited
  • Nagpur Nagrik Sahakari Bank Limited
  • Nasik Merchant’s Co-operative Bank Limited
  • New India Co-operative Bank Limited
  • NKGSB Co-operative Bank Limited
  • Nutan Nagarik Sahakari Bank Limited
  • Osmanabad Janata Sahakari Bank Limited
  • Pravara Sahakari Bank Limited
  • Punjab and Maharashtra Co-operative Bank
  • Rajarambapu Sahakari Bank Limited
  • Rajkot Nagrik Sahakari Bank Limited
  • Rupee Co-operative Bank Limited
  • Sangli Urban Co-operative Bank Limited
  • Saraswat Bank
  • Sardar Bhiladwala Pardi People’s Co-op. Bank Limited
  • Shamrao Vithal Co-operative Bank
  • Shikshak Sahakari Bank Limited
  • Solapur Janata Sahakari Bank Limited
  • Surat Peoples Coop Bank Limited
  • Thane Bharat Sahakari Bank Limited
  • The Akola Janata Commercial Co-operative Bank Limited
  • The Akola Urban Co-operative Bank Limited
  • The Jaynagar Majilpur People’s Co-Operative Bank Limited
  • The Khamgaon Urban Co-operative Bank Limited
  • The Mehsana Urban Co-Op Bank Limited
  • TJSB Sahakari Bank
  • Vasai Vikas Sahakari Bank Limited
  • Zoroastrian Co-operative Bank Limited

Also Read: 20 Best Banks for Business Loan in India

5. Regional Rural Banks

List of Scheduled Banks in India (2022) (6)

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These banks started just after the nationalization of banks that was done in 1969, and RRB’s commenced in 1975. After passing the law, there were 25 RBB’s established in different parts of the country to help bridge the credit gaps in rural areas.

The primary motive for their establishment was the development of trade, commerce, agriculture, industry, and other similar sectors in the rural areas.

List of Regional Rural Banks:

StateBank’s NameEstablishedHeadquartersBranchesSponsor Bank
Andhra PradeshAndhra Pradesh Grameena Vikas Bank2006Warangal,Telangana755State Bank of India
Andhra Pragathi Grameena Bank2006Kadapa,Andhra Pradesh552Canara Bank
Chaitanya Godavari Gramin Bank2006Guntur,Andhra Pradesh219Union Bank of India
Saptagiri Gramin Bank2006Chittoor,Andhra Pradesh220Indian Bank
Arunachal PradeshArunachal Pradesh Rural Bank1983Itanagar,Arunachal Pradesh30State Bank of India
AssamAssam Gramin Vikash Bank2006Guwahati,Assam474Punjab National Bank
BiharDakshin Bihar Gramin Bank2019Patna,India1078Punjab National Bank
Uttar Bihar Gramin Bank2008Muzaffarpur,India1032Central Bank of India
ChhattisgarhChhattisgarh Rajya Gramin Bank2013Raipur625State Bank of India
GujaratBaroda Gujarat Gramin Bank2019Vadodara489Bank of Baroda
Saurashtra Gramin Bank1978Rajkot259State Bank of India
HaryanaSarva Haryana Gramin Bank2013Rohtak,Haryana542Punjab National Bank
Himachal PradeshHimachal Pradesh Gramin Bank2013Mandi,Himachal Pradesh265Punjab National Bank
Jammu And KashmirEllaquai Dehati Bank1979Srinagar,Jammu, and Kashmir(Union Territory)116State Bank of India
Jammu And Kashmir Grameen Bank2009Jammu,Jammu, and Kashmir(Union Territory)217J&K Bank Ltd.
JharkhandJharkhand Rajya Gramin Bank2019Ranchi443State Bank Of India
KarnatakaKarnataka Gramin Bank2019Ballari, Karnataka1142Canara Bank
Karnataka Vikas Grameena Bank2005Dharwad,Karnataka633Canara Bank
KeralaKerala Gramin Bank2013Malappuram,Kerala634Canara Bank
Madhya PradeshMadhya Pradesh Gramin Bank2019Indore866Bank of India
Madhyanchal Gramin Bank2012Sagar, Madhya Pradesh454State Bank of India
MaharashtraMaharashtra Gramin Bank2008Aurangabad,India391Bank of Maharashtra
Vidarbha Konkan Gramin Bank2013Nagpur318Bank of India
ManipurManipur Rural Bank1981Imphal, Manipur28Punjab National Bank
MeghalayaMeghalaya Rural Bank1981Shillong87State Bank of India
MizoramMizoram Rural Bank1983Aizawl,Mizoram85State Bank of India
NagalandNagaland Rural Bank1983Kohima10State Bank of India
OdishaOdisha Gramya Bank2013Bhubaneswar,India549Indian Overseas Bank
Utkal Grameen Bank2012Bolangir,India442State Bank of India
PuducherryPuduvai Bharathiar Grama Bank2008Pondicherry,India43Indian Bank
PunjabPunjab Gramin Bank2019Kapurthala,Punjab419Punjab National Bank
RajasthanRajasthan Marudhara Gramin Bank2014Jodhpur715State Bank of India
Baroda Rajasthan Kshetriya Gramin Bank2013Ajmer833Bank of Baroda
Tamil NaduTamil Nadu Grama Bank2019Salem, Tamil Nadu630Indian Bank
TelanganaTelangana Grameena Bank2014Hyderabad, Telangana421State Bank of India
TripuraTripura Gramin Bank1976Agartala,India142Punjab National Bank
Uttar PradeshAryavart Bank2019Lucknow,Uttar Pradesh1365Bank of India
Baroda UP Bank2020Ayodhya,Uttar Pradesh2050Bank of Baroda
Prathama UP Gramin Bank2019Moradabad,Uttar Pradesh938Punjab National Bank
UttarakhandUttarakhand Gramin Bank2012Dehradun,Uttarakhand286State Bank of India
West BengalBangiya Gramin Vikash Bank2007Berhampore,West Bengal587Punjab National Bank
Paschim Banga Gramin Bank2007Howrah,West Bengal230UCO Bank
Uttarbanga Kshetriya Gramin Bank1977Coochbehar,West Bengal142Central Bank of India

6. Scheduled Small Finance Banks

Sr.No.Name of the Bank
1.Au Small Finance Bank Limited
2.Capital Small Finance Bank Limited
3.Equitas Small Finance Bank Limited
4.Suryoday Small Finance Bank Limited
5.Ujjivan Small Finance Bank Limited
6.Utkarsh Small Finance Bank Limited
7.ESAF Small Finance Bank Limited
8.Fincare Small Finance Bank Limited
9.Jana Small Finance Bank Limited
10.North East Small Finance Bank Limited

7. Scheduled Payment Banks

Sr.No.Name of the Bank
1.India Post Payments Bank Limited
2.Fino Payments Bank Limited

This was the list of scheduled banks in India, but there are non-scheduled banks in India as well; hence it is imperative for you to understand the difference between them.

(Video) News Juice 19th Sept, 2022

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

Difference between Scheduled and Non-Scheduled Banks

1. Meaning of scheduled banks

Scheduled banks were encompassed in the second schedule of the RBI, Act 1934. There are two criteria for becoming a scheduled bank; one is that the paid-up capital and collated funds of the bank should be of at least Rs. 5 lakh. The second condition is that any action whatsoever should not concern the interests of the clients.

Some of the facilities that schedule banks get are-

1. They are entitled to getting debts/loans on bank rates from the RBI.

2. 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 theRBI and presents the recurring statements under the provision of RBI Act, 1934 and Banking Regulation Act, 1949.

3. Scheduled Banks automatically get the membership of the clearinghouse.

2. Meaning of Non-Scheduled Banks

This might sound surprising to you, but these banks do not adhere to the RBI’s rules and regulations. They are the banks that were not included in the second schedule of the RBI Act, 1934. These banks are considered incompetent in serving and safeguarding depositor’s interests.

It is a mandate for non-scheduled banks to follow the CRR conditions, but the difference is that they need not meet it with RBI but with themselves. They do not get loans from RBI for day-to-day activities but can ask for the loan only in case of any emergency situation.

These banks are relatively smaller than the scheduled banks and have a lesser influence, plus doing transactions with them can be risky because of their financial limitations.

All the local area banks are called Non-Scheduled Banks. There are four local area banks:

  • Coastal Local Area Bank Ltd – Vijayawada (Andhra Pradesh)
  • Capital Local Area Bank Ltd – Phagwara (Punjab)
  • Krishna Bhima Samruddhi Local Area Bank Ltd, Mahbubnagar (Andhra Pradesh)
  • Subhadra Local Area Bank Ltd., Kolhapur (Maharashtra)

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, and 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 Schedules and Non-Scheduled Banks

Scheduled BanksNon- Scheduled Banks
MeaningIt is a banking company with a paid-up capital of at least 5 lakhs or moreOn the contrary, these banks do not imply with the RBI’s requirements and guidelines
Second ScheduleSchedules banks are listed in the second scheduleThese banks are not listed or mentioned in the second schedule
Cash Reserve Ratio (CRR)By RBIThey have to maintain it themselves
TypesPrivate and public sector banks, commercial banksState Co-operative banks and local banks
BorrowingThey can borrow from RBIThey can only borrow from RBI in case of an emergency situation
RiskThe 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
MembershipCan apply for joining the clearinghouseThese banks are not eligible to apply for clearinghouse
ReturnThese banks need to file returns periodicallyNo clause for returns

The difference between scheduled and non-scheduled banks would have been pretty clear by now, and this difference makes it very easy for you to decide which bank to trust and open an account with.

(Video) Scheduled Banks v/s Non - Scheduled Banks | Banking Awareness | BANK EXAMS | Sukesh Sir

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) What is meant by Scheduled Banks?

These are the banks that were encompassed in the second schedule of the RBI Act 1934. The paid-up capital and raised funds of these banks should be a minimum of 5 Lakh for qualifying as a scheduled bank. There are a few criteria that they should meet, like maintaining an average daily CRR balance with the central bank at the rates set by it.

Q3) 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 Banks12
Private Sector Banks22
Regional Rural Banks43
Foreign Banks45
Scheduled Small Finance Banks10
Scheduled Payment Bank2
Total134

This was about the list of scheduled banks in India and their types. This article would help you get in-depth knowledge about these banks, plus it also tells you the difference between scheduled and non-scheduled banks. It would help you make a wise decision on selecting the bank, plus it also makes it pretty easy for you to understand which bank is safer for you.

Recommended: Banking System in India Explained

Usually, people prefer scheduled banks to non-scheduled banks because they work in people’s interests and are less likely to work in favor of their customers. Hence, pick wisely and invest or save your money in the right bank.

Subscribe to Moneymint Weekly

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(Video) List of all Public and Private Sector Banks in India 2022

FAQs

How many scheduled banks are there in India in 2022? ›

There are 12 public sector banks as of 2022, but earlier, there are 27 banks that have now been merged.

Which are all scheduled banks in India? ›

1 State Bank of India 1 Axis Bank Ltd. 2 Bank of Baroda (Including Vijaya Bank and Dena Bank) 2 Catholic Syrian Bank Ltd. 3 Bank of India 3 City Union Bank Ltd. 4 Bank of Maharashtra 4 Development Credit Bank Ltd.

Is SBI a scheduled bank? ›

All commercial banks, including nationalized, international, cooperative, and regional rural banks, fall under scheduled banks. Scheduled Commercial Banks can be divided into: Scheduled Commercial Public Sector Banks. SBI and its associates.

Which banks are non scheduled banks? ›

Banks with a reserve capital of less than 5 lakh rupees qualify as non-scheduled banks.
...
Commercial Banks
  • According to the RBI, “Commercial Banks refer to both scheduled and non-scheduled commercial banks which are regulated under Banking Regulation Act, 1949.”
  • Commercial banks operate on a 'for-profit' basis.

How many scheduled bank are there in India? ›

18. South Indian Bank Ltd. 19. Tamilnad Mercantile Bank Ltd.
...
List of Scheduled Public Sector Banks
Sr.No.Name of the Bank
10.State Bank of India
11.UCO Bank
12.Union Bank of India
9 more rows

What are scheduled and non-scheduled banks? ›

Scheduled banks is a banking corporation whose minimum paid up capital is Rs. 5 lakhs and does not harm the interest of the depositors. Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks.

What is a scheduled bank as per RBI? ›

All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.

What is meant by scheduled bank? ›

Scheduled banks are those banks that are listed under Schedule II of the Reserve Bank of India Act, 1934. The bank's paid-up capital and raised funds must be at least Rs. 5 lakh to qualify as a scheduled bank. These banks are liable for low interest loans from the RBI. They also have membership in clearing houses.

Are RRBs scheduled banks? ›

Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were created to serve rural areas with basic banking and financial services.

What is CRR or SLR? ›

CRR is a reserve maintained by banks with the RBI. It is a percentage of the banks' deposits maintained in cash form. SLR is an obligatory reserve that commercial banks must maintain themselves. It is a percentage of commercial banks' net demand and time liabilities, maintained as approved securities.

What is difference between nationalised and scheduled bank? ›

Scheduled banks are not owned by the government completely but held by individual shareholders from the public whereas nationalized banks are governed and a major portion of shares are held by the government. Nationalized banks are service motive whereas scheduled banks are profit motive.

What is Second Schedule bank? ›

1. All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks. 2.

Is Paytm a scheduled bank? ›

Billionaire Vijay Sekhar Sharma's Paytm Payments Bank has been upgraded to a scheduled bank by the Reserve Bank of India. Scheduled banks refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934.

What are the 4 types of banks? ›

What are some different types of banks?
  • Retail banks. Retail banks, also known as consumer banks, are commercial banks that offer consumer and personal banking services to the general public. ...
  • Commercial banks. ...
  • Community development banks. ...
  • Investment banks. ...
  • Online and neobanks. ...
  • Credit unions. ...
  • Savings and loan associations.
12 Oct 2021

How many non Scheduled Banks are there in India? ›

Related Indicators for India Number of Commercial Banks: Non Scheduled
country/regionLast
India Number of Commercial Banks: Non Scheduled (Unit)4.000 2015
India Commercial Banks: Scheduled: Credit (INR mn)110,780,497.904 2021
India Commercial Banks: Scheduled: Deposits (INR mn)170,087,950.750 2022
14 more rows

How many RRB are there in India 2022? ›

Q: How many RRB in India 2022? A: There are 43 Regional Rural banks in India.

Who is the No 1 bank in India? ›

Ans: HDFC is marked as India's No. 1 Bank in Forbes World's best bank report.

How many reserve banks are there in India? ›

The Reserve Bank of India has offices at 31 locations. To see the Profile of the office, click on Profile below and choose the city in the map.

Are cooperative banks scheduled? ›

The scheduled primary (urban) cooperative banks are required to maintain with the Reserve Bank of India an average daily balance, the amount of which should not be less than 5 per cent of their net demand and time liabilities in India in terms of Section 42 of the Reserve Bank of India Act, 1934.

Who is the owner of RRB? ›

RRBs are jointly owned by Government of India(GOI), Sponsor Bank and the concerned State Government and with share proportion 50%,35% & 15% respectively. Govt.

Is Icici a scheduled bank? ›

List of Scheduled Commercial Banks of India 2021: Scheduled banks are banks that are listed in the 2nd schedule of the Reserve Bank of India (RBI) Act, 1934.
...
List of Private Sector Banks in India:
Sr. No.Private Sector Banks
5Dhanlaxmi Bank Ltd.
6Federal Bank Ltd.
7HDFC Bank Ltd.
8ICICI Bank Ltd.
19 more rows
8 Aug 2020

Are NBFC scheduled banks? ›

They are registered under the Banking Regulation Act, 1949. They can include commercial banks, scheduled banks, and retail banks. However, both NBFCs and banks are regulated by Reserve Bank of India (RBI).

Is HDFC a scheduled bank? ›

HDFC Bank commenced operations as a Scheduled Commercial Bank in January 1995.

Which banks are not regulated by RBI? ›

State Bank of Sikkim is owned by the state government. Due to the special status accorded to Sikkim, State Bank of Sikkim was not under the purview of Banking Regulation Act of 1949 and Reserve Bank of India Act of 1934.

What are the functions of scheduled banks? ›

Scheduled banks are authorized to carry out the normal business of banking such as accepting deposits, giving out loans and other banking services. A scheduled bank is eligible for seeking loans at bank rate from RBI. They are also entitled to membership to clearing houses.

Is Kerala bank a scheduled bank? ›

In July 1966, the RBI as per the provisions contained under second schedule of RBI Act, approved the Bank as a 'Scheduled State Cooperative Bank'. The Kerala State Cooperative Bank is the first scheduled Apex Cooperative Bank in the Cooperative Banking Sector in the Country.

Is RRB government or private? ›

Regional Rural Banks (RRB) are Indian Scheduled Commercial Banks ( Government Banks) operating at regional level in different states of India. They have been created with a view of serving primarily the rural areas of India with basic banking and financial services.

What is difference between RRB and cooperative bank? ›

The RRBs mobilize deposits primarily from rural/semi-urban areas and provide loans and advances mostly to small and marginal farmers, agricultural labourers , rural artisans and other segments of priority sector. The co-operative banks are small-sized units which operate both in urban and non-urban centers.

Who regulates RRBs India? ›

Genesis. Section 35(6) of the Banking Regulation Act, 1949 empowers NABARD to conduct inspection of State Cooperative Banks (StCBs), District Central Cooperative Banks (DCCBs) and Regional Rural Banks (RRBs).

How many RRB are there in India 2022? ›

Q: How many RRB in India 2022? A: There are 43 Regional Rural banks in India.

How many banks are in India 2021? ›

India has a total of 12 public sector banks while 21 private banks. The list of banks in India forms a major part in the general knowledge and general awareness section of many govt.

What is a scheduled bank as per RBI? ›

All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.

How many reserve banks are there in India? ›

The Reserve Bank of India has offices at 31 locations. To see the Profile of the office, click on Profile below and choose the city in the map.

Which state has no RRB bank? ›

The services of RRBs are not available in the states of Goa and Sikkim.

Which is the largest RRB in India? ›

The largest RRB is Baroda UP Bank with a Rs 72,015 crore-balance sheet and is much bigger than the largest SFB -- AU Small Finance Bank -- which has business (deposits and advances) size of only Rs 70,588 crore as of March 2021.

Which state has the highest number of RRBs in India 2022? ›

Notes: Uttar Pradesh has the highest number of 36 RRBs, followed by, Madhya Pradesh with 19 and Bihar with 16 RRBs.

How many non scheduled banks are there in India? ›

The banks which are not included in the list of the scheduled banks are called the Non- Scheduled Banks. At present there are only 3 such banks in the country.

Which is the No 1 government bank in India? ›

List of Current 12 Sarkari Banks 2022
S.NOBank NameHeadquarter
1.State Bank of IndiaMumbai, India
2.Punjab National BankNew Delhi, India
3.Bank of BarodaGujarat, India
4.Canara BankBangalore, India
8 more rows
20 Jul 2022

Which bank is government bank? ›

Public sector banks
S.no.Name of the BankBoard of Directors
1Bank of BarodaDetails
2Bank of IndiaDetails
3Bank of MaharashtraDetails
4Canara BankDetails
8 more rows

Is Paytm a scheduled bank? ›

Billionaire Vijay Sekhar Sharma's Paytm Payments Bank has been upgraded to a scheduled bank by the Reserve Bank of India. Scheduled banks refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934.

What is the difference between scheduled bank and nationalised bank? ›

Scheduled banks are not owned by the government completely but held by individual shareholders from the public whereas nationalized banks are governed and a major portion of shares are held by the government. Nationalized banks are service motive whereas scheduled banks are profit motive.

Are RRBs scheduled banks? ›

Regional Rural Banks (RRBs) are government owned scheduled commercial banks of India that operate at regional level in different states of India. These banks are under the ownership of Ministry of Finance , Government of India. They were created to serve rural areas with basic banking and financial services.

Who is the real owner of RBI? ›

Though originally privately owned, since nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.

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