In this article readers are able to understand what is scheduled commercial bank and what is public sector bank. We have also given list of public sector banks in India and their official websites.
What is Scheduled Commercial Bank?
Scheduled Banks in India are those banks which have been included in the Second Schedule of Reserve Bank of India (RBI) Act, 1934. Further, RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act.
The banks included in this schedule list should fulfil the following two conditions.
- The paid capital and collected funds of bank should not be less than Rs. 5 lakh.
- Secondly, Any activity of the bank will not adversely affect the interests of depositors.
What is Scheduled Public Sector Bank?
Scheduled Public Sector Banks are banks in which more than 50% of stake is held by the Central Government of India. After the bank amalgamation, presently there are 12 public sector banks in India including State bank of India. Also, the shares of these banks are listed on Stock exchanges.
List of Scheduled Public Sector Bank
Here, we have compiled the list of public sector banks in India. We have also given the official website of the all banks India for your easy reference.
|Name of the Bank
|Bank of Baroda
|Bank of India
|Bank of Maharashtra
|Central Bank of India
|Indian Overseas Bank
|Punjab & Sind Bank
|Punjab National Bank
|State Bank of India
|Union Bank of India