Banks play a very important role in our lives. It is the banks where we are able to deposit money and do saving and through banks only we are able to transfer money from one place to another or to other persons who are far away from us. Banking industry in India grew rapidly in the past 10 years and there is a huge list of banks that are functioning all day round to give you seamless facilities and services that makes your life simple and easy. There are few best banks in India which you may want to know to get better service.
Because of huge demand and population, various public and private banks have been found. Public sector banks are trustworthy and reliable where as private banks are known for their excellence and quick services with profitability. Since India is a country of diversity, you can find rural, foreign and cooperative banks as well. You will find all types of banks in the list of top banks in India because they have been serving the people in a systematic manner.
A long list of top bank in India will show you which banks are best overall and which are known for specific features. You would have seen the list of best banks in India 2016 so you might now be interested to know the list of top banks in India in 2017 which is mentioned below:
List of top 20 banks in India you should try
20.Bank of India:
The bank was established in 1969 with private ownership but was later nationalized with 13 other banks. Currently there are 141 specialized branches with 3101 branches in all over India. In 1997, the bank came out with its maiden public issue.
19. Syndicate bank:
Syndicate Bank is one of the oldest and major commercial banks of India. It was founded by T M A Pai, Upendra Pai and Vaman Kudva. At the time of its establishment, the bank was known as Canara Industrial and Banking Syndicate Limited
UCO Bank was first conceived by G D Birla and came into reality in 1943 as The United Commercial Bank Ltd. It has nationalized in 19 July, 1969 with 100% ownership given to the government. The name UCO was adopted in 1985.
17.Central Bank of India:
Central Bank of India was established in 1911 and was managed wholly by Indians. It has currently 3563 office and branches along with 195 extensions counters in various parts of the country.
16.Oriental Bank of Commerce:
It was established in the year 1943 in Lahore and had a modest beginning under Late Rai Bahadur Lala Sohan Lal. It was nationalized in on 15 April, 1980. It has been credited for its lowest staff cost with highest productivity.
15. Union Bank of India:
This bank was flagged by the Father of the Nation, Mahatma Gandhi. It has come up with public offer in 2002 and a follow up in 2006.
14. Canara Bank:
Canara Bank was founded as Canara Bank Hindu Permanent Fund in the year 1906 by philanthropist late Ammembal Subba Rao. It became Canara Bank Ltd in 1910 and crossed Rs 400,000 crore marks in 2009-10. It has also crossed the 3000 mark with all its branches.
13 Indian Bank:
Indian Bank is a premier bank owned by Government of India was established in 15 August 1907. Currently it employed over 19,000 staffs to serve the nation and has crossed Rs 167,980 crore businesses by 2010. It has its branches in India along with Singapore and Colombo.
12. Andhra Bank:
It was founded by a genius, multifaceted and eminent freedom fighter Dr Bhogaraju Pattabhi Sitaramayya and was registered in 1923 and started working on November 28 the same year with authorized capital of Rs 10 lakh. It has 1611 branches all over India and two countries abroad.
11. Corporation Bank:
Another name in the list of best banks in India is Corporation Bank. It was nationalised in 1980 and was the second public sector bank. It has many firsts to its credit such as gold banking, cash management, m-Commerce and many more.
10 .The Standard Chartered Bank, India:
It is a foreign bank whose first overseas branch was opened in Calcutta, India in 1858. However, Bombay took over India’s main trade centre from Kolkata after cotton trade and Suez Canal opening. It is one of those foreign banks which is listed in the best banks in India in terms of customer services.
9. State Bank of Hyderabad:
It was established in the year 1942. It absorbed the Mercantile Bank of Hyderabad founded by Raja Pannalal Pitti in 1956 by merger. It became the first subsidiary bank of State Bank of India.
8. IDBI Bank:
This bank was established in the year 1941 by an Act of Parliament. Currently, it is the 10th largest development bank in the world with 758 branches, 1300 ATMs and 513 centres. For a brief period it was a private scheduled bank but is now owned by Government of India. However, after that it has made its way to the list of best banks in India.
7. ICICI Bank:
ICICI Bank has established itself with a network of 2016 branches and 5219 ATMs in India and is present in 18 countries. It offers a wide range of banking services to its customers.
6. Allahabad Bank:
It was founded by a group of Europeans on 24 April 1865 at Allahabad. Then the head office has been shifted to Kolkata in 1923 and in 1969 it was nationalised with 13 other banks. It came out with an initial public offer of 10 crore share of Rs 10 face value each in 2002 and opened its first overseas branch at Hong Kong in 2007. It is not only one of the best banks in India but also one of the most popular public banks.
5 Bank of Baroda:
It is the third largest bank in India after State Bank of India and Punjab National Bank and is ahead of ICICI Bank. BoB has a wide range of network spread all over India with 3000 office and branches and around 1100 ATMs. It has 78 branches abroad which they are expecting to grow by 90 and they have also branches in New Zealand, Auckland and United Kingdom as well.
4. Punjab National Bank:
In the second position, Punjab National Bank has its name. it was registered on 19 May, 1894 with its office in Lahore’s Anarkali Bazaar. Currently it has 5000 branches across 76 cities and also has banking subsidiary in UK and branches in Dubai, Hong Kong, Kabul and representative offices in Oslo, Dubai, Shanghai and Almaty.
3. Axis Bank:
Formerly known as UTI Bank, it is a financial services firm which started operating since 1994 when the Government of India allowed privates bank to establish. The bank changed its name in 2007 to from UTI Bank to Axis Bank to avoid confusion. As per a study conducted in 2010, it has more than 1095 branches and 4846 ATMs. Being a private bank it has left no stone unturned to be at the top of the list of best banks in India.
2. HDFC Bank:
Incorporated in 1994, it is one of the major financial services firm. It is promoted by Housing Development Finance Corporation and has over 1725 branches and 4232 ATMs in around 779 cities of India linked with an online real time basis.
1. State Bank of India:
The idea of State Bank of India came when Bank of Bengal was established in the year 1806. Later when few banks amalgamated and became Imperial Bank of India, it was changed to State Bank of India in 1955. According to Forbes, it is the 29th most reputed company in the world. It is said to be one of the best banks in India amongst public banks.