How many Nationalized bank in India?

As of September 2021, there are currently 12 nationalized banks in India. They are:

1. Bank of India
2. Bank of Maharashtra
3. Canara Bank
4. Central Bank of India
5. Indian Bank
6. Indian Overseas Bank
7. Punjab & Sind Bank
8. Punjab National Bank
9. State Bank of India
10. UCO Bank
11. Union Bank of India
12. United Bank of India

Nationalization refers to the process by which a government takes over private assets and brings them under state control. In the case of nationalized banks in India, the government acquired a majority stake in these banks and brought them under its control in order to promote financial inclusion and economic growth.

objective of Nationalized bank

1) to eliminate concentration of economic power in few hands .

2)to diverse the flow of bank credit towards priority sector consisting of agriculture.

3)to extend banking facilities to rural area .

4)promote economics development

List of Nationalized bank

1) Allhabad bank

2) Andhra Bank

3)bank of baroda

4) bank of India

5)bank of Maharashtra

6) canara bank

7) corporation Bank

8)Indian Bank

9) Indian overseas Bank

10)oriental Bank of commerce

11)Punjab National Bank

12)Punjab and sind Bank

13) syndicate bank

14)UCO bank

15)union bank of india

16)United Bank of india

17)Vijaya Bank

18)dena bank

19)central bank of india

As of today, India has 12 nationalized banks spread throughout the country. This list of 12 nationalized banks includes:

1. State Bank of India
2. Punjab National Bank
3. Bank of Baroda
4. Canara Bank
5. Union Bank of India
6. Bank of India
7. Indian Bank
8. Central Bank of India
9. Indian Overseas Bank
10. UCO Bank
11. Bank of Maharashtra
12. Punjab & Sind Bank

Hope this answers your question.

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