Here is the list of Public Sector Bank (PSB) in India after merger from April 2020, Find the list of 12 operational banks after merger and reduced from 27, also check the provided email address of the head of institution…
Public Sector Banks were in good numbers until 2019 and now they have emerged as four major banks by the announcement of Hon’ble Finance Minister of India Smt Nirmala Sitharaman in 2019, As on date from April 2020 there are 12 Public Sector Banks in India which hold 51% stake of Indian customers.
Reserve Bank of India is termed as Public Sector Banks, but it is an individual bank which holds authority of all nationalized banks, and the merging of Public Sector Banks is set to bring an increase in productivity, boosting and efficiency in the economy by reducing the number of bad Loans and NPAs.
In recent time 10 Public Sector Banks are merged as 4 and make the totals count to 12 in India, and this merger is based on a new amalgamation that came into effect from 1st April 2020 and thus the count of 27 Public Sector Banks is held at 12 for growth of Indian economy.
Public Sector Bank in India
| Si.No | Bank Name | Email Address of CEO / Head of Bank |
|---|---|---|
| 1 | Bank of Baroda | md.ceo@bankofbaroda.com |
| 2 | Bank of India | md.ceo@bankofindia.co.in |
| 3 | Bank of Maharashtra | mdceo@mahabank.co.in |
| 4 | Canara Bank (Syndicate Bank Merged) | mdceo@canarabank.com |
| 5 | Central Bank of India | chairman@centralbank.co.in |
| 6 | Indian Bank (Allahabad Bank merged in IB) | cmdsec@indianbank.co.in md@indianbank.co.in |
| 7 | Indian Overseas Bank | md@iob.in |
| 8 | Punjab & Sind Bank | cmd@psb.co.in |
| 9 | Punjab National Bank (Oriental Bank of Commerce & United Bank of India merged in PNB) | md@pnb.co.in |
| 10 | State Bank of India | chairman@sbi.co.in |
| 11 | UCO Bank | md@ucobank.co.in |
| 12 | Union Bank of India (Andhra Bank, Corporation Bank merged in UBI) | mdceo@unionbankofindia.com |
Is the State Bank of India a Public Sector Bank?
State bank of India is a Public Sector Bank which is an Indian Multinational bank along with Financial Services Statutory Body. The Headquarter of SBI is in Mumbai, Maharashtra as a government corporation statutory body having ranked at 235th in fortune Global for world’s biggest corporations of 2019.
Do Public Sector Banks give good returns?
The return value of Public Sector Banks is constant, and they don’t give you a higher rate of interest at any mean cost. The value of perseverance and safety is the most priority of Public Sector Banks , whereas Private Sector Banks do give good returns with having equal contribution of risk in investment.
Which Public Sector Banks are good in India?
State Bank of India is always a preferred bank of India, as it has now collaborated all its state banks into one SBI Group. Emerging as a big group of banks in India and holding Multi-national bank names, SBI is always a preferred banking option if you choose from a list of Public Sector Banks.
Why are Private Sector Banks preferred than Public Sector Banks?
The equity interest rate of Private Sector Banks is higher compared with Public Sector Banks, as they maintain their floating interest rate based on their growth. Public Sector banks are preferred by agricultural farmers as they have a constant interest and they don’t work for much profit as government under government rules.