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What is the Nationalised bank?

The bank which is owned by the Government of India is known as Nationalised bank. Nationalised banks are also known as public sector banks. You can read about the Types of Banks in India – Category and Functions of Banks in India in the given link.

As of 2021, the 12 Public Sector banks in India are State Bank of India, Bank of Maharashtra, UCO Bank, Punjab and Sind Bank, Bank of Baroda, Punjab National Bank, Central Bank of India, Union Bank of India, Indian Bank, Canara Bank, Indian Overseas Bank, Bank of India.

Further readings:

  1. Types of Non Banking Financial Institutions India
  2. RBI – Reserve Bank of India [UPSC Indian Economy Notes]

Related Links

Payment Banks- History & Regulations (UPSC Notes)

Financial Inclusion – National Strategy for Financial Inclusion [UPSC GS-III]

SIDBI – Small Industries Development Bank of India 

Previous Years Economics Mains Questions for UPSC GS-3

License for Small Finance Banks by RBI

Bad Banks – Idea Proposed by Indian Banking Association (IBA) Due to COVID-19

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