ADVERTISEMENT KillerLaunch
Home Business Best Bank in India: Top Private & Public Sector Banks

Best Bank in India: Top Private & Public Sector Banks [2020 Updated]

The banking sector plays a significant part in assessing a country's economy. One of the most regulated sectors in the Indian economy is the banking industry.

0
5098
The banking sector plays a significant part in assessing a country's economy. One of the most regulated sectors in the Indian economy is the banking industry.
The banking sector plays a significant part in assessing a country's economy. One of the most regulated sectors in the Indian economy is the banking industry.
ADVERTISEMENT KillerLaunch

Introduction

The banking sector plays a vital role in helping the economy step forward in a developing world like India. Not only do banks offer the required loans, but they also encourage the common man with services like personal banking, credit, and debt facilities, as well as the return of interest on deposits.

Given the importance of banks, the fact that there are up to 27 Public Sector Banks, of which 21 are Nationalized Banks and six belong to the State Bank Group, does not come as a surprise. Twenty-one Top Private Banks in India, along with 45 private foreign-sector banks that fund the Indian banking system, also serve the country. The Government of India announced a merger of 27 Best Public Sector Banks into 12 robust PSU banks. At the end of this financial year, the alliance is scheduled to take place. 

ADVERTISEMENT KillerLaunch

 

Top Private Banks in India

Today, several banks – private, public, and foreign banks – surround us to choose from. So it’s a difficult problem to find the Top Private Banks in India. That’s why we are listing Five Top Private Banks in India, their history, and their current condition in this article, to make it easier for you to find the right bank.

 

1. HDFC Bank

This Bank needs to be first and the leading Best bank in India. The company was founded in 1994, and it was Arun Puri, who, in the next three years, had floated his business strategy with the random number of ‘300 branches.’ This Top Private Bank in India earned a massive turnover in 2019 of 1.17 lakh crores, and from this, a respectable net income of 21,078 rounds was obtained. Owing to its longer-term outlook. It provides a wide variety of items, including credit cards, debit cards, home loans, and auto loans.

  • Total Branches – 5,103
  • Total ATM’s – 12,160
  • Headquarter – Mumbai, Maharashtra

 

2. Kotak Mahindra

Kotak Mahindra Finance Ltd. was an NBFC until 2003 before it secured an RBI banking license. It was the first NBFC to transform into a bank, Kotak Mahindra Bank Limited. In 2015 the company acquired Rs 150 billion from ING Vysya Bank. During 2019, Rs28547 crores produced revenues, from which an income of Rs.5827 crores was obtained. Via its services name Kotak 811, the Bank has also joined the neo-banking business and enter the list of Best Banks in India. The bank provides finance, personal credit, vehicle financing, home loans, and investment options.

  • Total Branches – 1390
  • Total ATM’s – 2100
  • Headquarter – Mumbai, Maharashtra

 

3. ICICI Bank

In 1994, ICICI Bank was founded. By 2010, 9 small and medium-sized banks had been acquired. In 1998, its net banking services were introduced by this Top Private Bank in India. It also offers savings goods, personal loans, auto loans, and policies on insurance. In 2019, the company made Rs 73,913 sales and Rs 3,363 crores net income and joined various other Best Banks in India.

  • Total Branches – 4,882
  • Total ATM’s – 15,159
  • Headquarter – Mumbai, Maharashtra

 

4. Axis Bank

Previously Axis Bank was known as the UTI Bank. In 1993, it started operating and became the first bank to introduce its card of travel money and was now among the Best Banks in India. In 2005, it was listed on the London Stock Exchange, and its branches were opened in the overseas area. In 2007, Axis Bank was founded to now provide personal loans, car loans, home loans, and other bank services in the Top Private Banks in India. In 2019, it reported revenues of 41,409,25 crores and a net profit of Rs 857,59 crores with a workforce of 55,000 employees.

  • Total Branches – 4,050
  • Total ATM’s – 11,800
  • Headquarter – Mumbai, Maharashtra

 

5. IndusInd Bank

IndusInd Bank was invented in 1994 to serve the community of NRI. That is why the Bank is very much involved in metro cities among other Top Private Banks in India. Besides that, in the overseas state, including Dubai, Abu Dhabi, and London, the Bank has an appropriate presence. It provides 25,000 jobs and different financial facilities, including debit and saving accounts. It provides loans in the form of gold loans, home loans, and personal loans.

  • Total Branches – 1,558
  • Total ATM’s – 2,453
  • Headquarter – Mumbai, Maharashtra

 

Best Public Sector Banks in India

You must have a bank account in today’s world if you have money. In comparison, the chances of people having no bank accounts are very slim despite the Pradhan Mantri Jan Dhan Yojna – Government of India’s Financial Inclusion program. Are you aware of the Best Public Sector Banks in India? If not, then dive in.

 

1. State Bank of India

The State Bank of India is India’s oldest bank and one of the biggest corporations in the country. India’s SBI bank is one of the Best Bank in India being the largest employer and India’s most trustworthy company and business. SBI Bank is also identified by revenue in 2019 and probably 2020 as one of India’s top 10 Best Public Sector Banks. In 2018, the State Bank of India became the 216th most prominent company in the Fortune Global 500 index. 

  • Total Branches – 24,000
  • Total ATM’s – 59,000
  • Headquarter – Mumbai, Maharashtra

 

2. Punjab National Bank

Punjab National Bank (PNB) has an Rs. 37,411.52 market capitalization. This leading bank has Rs. 58,687 crores in revenue as a public sector company. This Best Public Sector Bank in India is an excellent base with more than eight crore customers. PNB has a strong presence in the Offshore banking network in Mumbai with branches in Dubai & Hong Kong. Then PNB has seven offices in the United Kingdom and seven in Bhutan. Besides, the Bank has 8 Kazakhstan Affiliate Subsidiaries and 86 Nepal Joint Ventures.

  • Total Branches – 7,000
  • Total ATM’s – 10,680
  • Headquarter – New Delhi

 

3. Bank of Baroda

The Bank of Baroda, also known as the BoB, yet another Best Public Sector Bank in India with a strong market capitalization of Rs. 35,251,50 crores, is one of the top 10 Best Banks in India 2019. With its headquarters in Vadodra, the bank became ever more famous with Dena Bank and Vijaya Bank in April 2019 for experiencing the first-ever three-way merger. The bank has an impressive base of over 12 crore clients and is regarded as the least missing reserves of just 111.5%.

  • Total Branches – 9,544
  • Total ATM’s – 13,400
  • Headquarter – Alkapuri, Vadodara

 

4. Canara Bank

Ammembal Subba Rao Pai founded Canara Bank in Mangalore in 1906, one of the largest and oldest public banks. In 1969, the government of India nationalized it. Many of the leading products and services offered by this Best Public Sector Bank in India include corporate finance, business banking, retail banking, investment banking, private banking, insurance, credit cards, wealth management, and pensions. With its easy-to-use net banking applications, it gives its customers a seamless experience.

  • Total Branches – 8,801
  • Total ATM’s – 10,342
  • Headquarter – Bengaluru

 

5. Union Bank of India

Union Bank is located in Mumbai and was founded by none other than Mahatma Gandhi in 1919 as a privately held corporation.  He will be proud if he saw Union Bank or any of the other banks today joining the list of Best Banks in India. In 1969, Union Bank began to expand further with its 240 branches and became the Best Public Sector Bank in India. The Union Bank is one of the very few banks not to fail since its inception.

  • Total Branches – 6,798
  • Total ATM’s – 9.609
  • Headquarter – Mumbai, Maharashtra

 

Conclusion

While Indian banks are regarded as the best bank in the world, we can not name any single bank that offers the best banking services for all because I don’t agree that even one person is happy with the service industry. We have such high hopes that we are never satisfied. As not every client is the same, not every bank is the same.

+ posts

Aakriti Suri is a MBA student who has been effectively handling a Real estate and Construction house from the past 3 years. She has always had an eye for the emerging startups and dreams to have her own someday.

ADVERTISEMENT KillerLaunch

No Comments

Leave A Reply

Please enter your comment!
Please enter your name here

Enable Notifications    Ok No thanks