Nationalization of banks list 2022
In the modern era, banking started in the colonial period with the establishment of the Bank of Hindustan which was established in the year 1770.
In the modern era, banking started in the colonial period with the establishment of the Bank of Hindustan which was established in the year 1770. Post-independence, the government of India took numerous steps to improve the country’s economic development, and one of the major steps they took was establishing RBI in April 1935. Later in 1948, under the terms of the RBI Act, they gave notice to nationalized the banks and then in 1949.
After Independence, the banking sector was being regulated by the Reserve Bank of India which is the central authority. By this time only the State Bank of India was a major government bank and the rest were private-owned. To meet the need of the Indian economy, the banks were nationalized in the years 1969 and 1980.
What is Nationalised bank?
The nationalized banks are those banks that were ones owned by the private players but due to the financial or socio-economic exigencies, the ownership was acquired by the government. In more technical terms Nationalised Banks have such an ownership structure where the government is the majority shareholder i.e. >50%.
Why banks were Nationalised?
Bank Nationalization is a policy decision, which is undertaken keeping certain goals in mind. From time to time Central Government can carry out the nationalization of banks. Though candidates must note that Nationalization as a policy call has lost the favour of Governments post-liberalization of 1991. Nariman committee on banking reforms 1991 and 1998 has called for more private banks in India.
In this article, we have an updated list of Government banks in India along with a merged banks list as of 2022.
- State Bank of India
- Punjab National Bank (With Merger of Oriental Bank of Commerce and United Bank of India)
- Bank of Baroda
- Canara Bank (With Merger of Syndicate Bank)
- Union Bank of India (With Merger of Andhra Bank and Corporation Bank)
- Bank of India
- Indian Bank (With Merger of Allahabad Bank)
- Central Bank of India
- Indian Overseas Bank
- UCO Bank
- Bank of Maharashtra
- Punjab & Sind Bank
Let’s have a look at each Public Sector bank individually:
1. State Bank of India
State Bank of India is the largest bank in India. SBI is ranked 236th on the Fortune Global 500 list. The bank was founded in 1955. With the merger with its 5 associates banks, SBI has the largest branches network in India.
- Headquarters: Mumbai, India;
- Tagline: Pure Banking, Nothing Else
- Chairperson: Dinesh Kumar Khara
2. Punjab National Bank
Punjab National Bank is a banking and financial services bank owned by the Government of India. The bank was established in 1894. PNB bank is merged with OBC Bank and United Bank. The new bank will become the second-largest Public Sector Bank of India with 18 Lakh crore rupees and the second largest in terms of branch network across the country.
- Headquarters: New Delhi, India
- Tagline: The name you can Bank Upon
- CEO: Atul Kumar Goel
3. Bank of Baroda
Bank of Baroda is an Indian multinational bank. It is the third-largest public sector bank in the country established in 1908. Bank of Baroda will be merged with Vijaya Bank and Dena Bank to create the country’s third-largest lender with a combined business of Rs. 14.82 lakh crore.
- Headquarters: Vadodara, Gujarat
- Tagline: India’s International Bank
- Managing Director & CEO: Sanjiv Chadha
4. Canara Bank
Canara Bank is one of the oldest public sector banks in India. The bank was founded in 1906 by the name Canara Hindu Permanent Fund but later changed its name to Canara Bank Limited in 1910. Canara Bank will merge with Syndicate Bank to become the fourth largest Public Sector Bank in the country. The total business of the bank will be Rs.15.2 lakh crore. It will also become the third-largest bank branch network in India.
- Headquarters: Bengaluru, Karnataka
- Tagline: Together We Can
- CEO: Lingam Venkat Prabhakar
5. Union Bank of India
Union Bank of India is one of the largest public sector banks in India. The government holds 90% of its share capital. The bank was founded in 1919. With Merger of Andhra Bank and Corporation Bank.
- Headquarters: Mumbai, India
- Tagline: Good People to Bank With
- CEO: Rajkiran Rai G.
6. Bank of India
Bank of India is the founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications) and one of the top 5 banks in India.
- Headquarters: Mumbai, India
- Tagline: Relationship Beyond Banking
- Managing Director & CEO: Atanu Kumar Das
7. Indian Bank
Indian Bank has overseas branches in Colombo and Singapore. It was founded in 1907. With Merger of Allahabad Bank.
- Headquarters: Chennai, India
- Tagline: Your Own Bank
- CEO: Shri Shanti Lal Jain
8. Central Bank of India
Central Bank of India was one of eighteen public sector banks that get recapitalized in 2009. It is founded in 1911.
- Headquarters: Mumbai, India
- Tagline: Build a better life around us
- Managing Director & CEO: Matam Venkata Rao
9. Indian Overseas Bank
Indian Overseas Bank has 6 foreign branches and a representative office. It was founded in 1937.
- Headquarters: Chennai, India
- Tagline: Good People to Grow With
- CEO: Partha Pratim Sengupta
10. UCO Bank
UCO Bank is one of the major government-owned commercial banks of India. It was founded in 1943. UCO bank recently launched its Whatsapp banking.
- Headquarters: Kolkata, West Bengal
- Tagline: Honours Your Trust
- CEO: Shri Soma Sankara Prasad
11. Bank of Maharashtra
Bank of Maharashtra is a major public sector bank. The Government of India has 87.74% shares of this bank. It is founded in 1935.
- Headquarters: Pune, India
- Tagline: One Family One Bank
- CEO: A. S. Rajeev
12. Punjab & Sind Bank
Punjab and Sind Bank is emerging as a techno-savvy public sector bank of India. It was founded in 1908.
- Headquarters: Rajendra Place New Delhi, India
- Tagline: Where Service Is A Way Of Life
- MD & CEO: S Krishnan
India’s Ranking & Index in different indices 2022
Different organization/ agency releases a list of countries with the ranking and Index in different indices every year. In the govt. exams, India’s Ranking and the country on the first rank in the respective indices are asked. So, here, we are providing you with an article “India’s Ranking and index in Different Indices in the year 2021-22″.
Ranking Index (March, 2022)
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Index |
Index released by |
India’s Rank |
1st Rank |
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16th The Wealth Report 2022 |
Knight Frank |
India ranked 3rd in billionaire population globally Bengaluru recorded the highest growth in the number of UHNWIs in 2021 at 17.1% to 352 billionaires. It was followed by Delhi (12.4% to 210) and Mumbai (9% to 1596) in 2021.
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Top 5 countries in 2021: · United States · China · India · Germany · Russia |
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Sustainable Development Index 2021 in 9th edition of Down To Earth’s annual ‘State of India’s Environment Report 2022’ |
Ministry of Environment, Forest and Climate Change (MoEF&CC) |
India ranked 120th |
Top 5 countries: 1. Finland |
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SKOCH State of Governance ranking 2021 |
SKOCH Group |
1st rank: Andhra Pradesh |
2nd: West Bengal 3rd: Odisha 4th: Gujarat 5th: Maharashtra 6th: Telangana |
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‘Democracy Report 2022: Autocratisation Changing Nature’ |
V-Dem (Varieties of Democracy) Institute |
India ranked 93rd |
Top 5 Liberal Democracy Index (LDI) Countries:
Most autocratic countries: Afghanistan, Belarus, China, Russia, Saudi Arabia, Sudan, and Venezuela |
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London & Partners (the Mayor of London’s international trade and investment agency) analysis of Dealroom.co investment data |
London & Partners |
2nd largest global venture capital investment hub for digital shopping companies Within India, Bengaluru, Karnataka topped with USD 14 billion worth of Venture Capital (VC) investments in digital shopping in 2021.
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1. United States (US) 2. India 3. China 4. United Kingdom |
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8th Edition 2022 Fortune India The Next 500 list |
Fortune India |
RailTel Corporation of India Limited (RailTel) has ranked 124th IRCTC ranked 309 |
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Trends in International Arms Transfer, 2021 |
Stockholm International Peace Research Institute (SIPRI) |
Rank 1st in imports 85% of India’s overall imports were from three countries. Russia (46%), France (27%), and the USA (12%) were the top three largest exporters of arms to India during the period. India was 23rd largest exporter during 2017-21. |
Largest Arms Importers in 2017-21: India, followed by Saudi Arabia, Egypt (5.7%), Australia (5.4%) and China (4.8%) Largest Arms Exporters in 2017-21: USA, with 39% share, retained its position as the world’s largest arms exporters, followed by Russia (19%), France (11%), China (4.6%) and Germany (4.5%). |
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Bloomberg’s recent data on Market capitalization |
Bloomberg |
India ranked 5th with an overall market capitalization of USD 3.21 trillion. |
1. US with an overall market cap of USD 47.32 trillion, 2. China (USD 11.52 trillion), 3. Japan (USD 6 trillion) 4. Hong Kong (USD 5.55 trillion)
5. India
6. United Kingdom (UK) with M-Cap of USD 3.19 trillion, 7. Saudi Arabia with M-Cap of USD 3.18 trillion, 8. Canada with M-Cap of USD 3.18 trillion, 9. France with M-Cap of USD 2.89 trillion 10. Germany with M-Cap of USD 2.29 trillion. |
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Global Powers of Retailing 2022: Resilience Despite Challenges |
Deloitte |
Reliance Retail ranked 56th |
1. Walmart Inc 2. Amazon, Inc., 3. Costco Wholesale Corporation, 4. Schwarz Group, 5. The Home Depot, Inc. |
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2022 M3M Hurun Global Rich List |
Hurun India |
Mukesh Ambani emerged as Richest Indian & Asian & ranked 9th globally |
1. Elon Musk (Tesla) 2. Jeff Bezos (Amazon) 3. Bernard Arnault (LVMH Moët Hennessy Louis Vuitton) 4. Bill Gates (Microsoft) 5. Warren Buffett (Berkshire Hathaway) 6. Sergey Brin (Alphabet) 7. Larry Page (Alphabet) 8. Steve Ballmer (Microsoft) 9. Mukesh Ambani (Reliance Industries Limited) 10. Bertrand Puech & Family (Hermes) |
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10th edition of World Happiness Report 2022 |
United Nations Sustainable Development Solutions Network |
India ranked 136th |
Top 5 countries: 1. Finland 2. Denmark 3. Iceland 4. Switzerland 5. Netherlands 16. United States 17. Britain 20. France Afghanistan was ranked as the unhappiest nation, followed by Lebanon, Zimbabwe, Rwanda and Botswana. |
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Global House Price Index Q4 2021 |
Knight Frank |
India ranked 51st |
1. Turkey saw the highest annual price growth rate by 59.6 per cent in Q4 2021. 2. New Zealand (22.6 per cent), 3. Czech Republic (22.1 per cent), 4. Slovakia (22.1 per cent) 5. Australia (21.8 per cent) |
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2021 World Air Quality Report |
IQAir |
Bhiwadi was the most polluted city in India, followed by Ghaziabad, Delhi and Jaunpur.
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World’s most polluted capital city: 1. New Delhi (India) 2. Dhaka (Bangladesh) 3. N’Djamena (Chad) 4. Dushanbe (Tajikistan) 5. Muscat (Oman) World’s most polluted country: 1. Bangladesh 2. Chad 3. Pakistan 4. Tajikistan 5. India |
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NITI Aayog`s Export Preparedness Index 2021 |
NITI Aayog and Institute of Competitiveness |
1. Gujarat |
Top states: Gujarat, Maharashtra, Karnataka, Tamil Nadu, Haryana, Uttar Pradesh, Madhya Pradesh, Punjab, Andhra Pradesh and Telangana. Top UTs: Delhi, Goa, Jammu and Kashmir, Chandigarh and Puducherry. Top Himalayan states: Uttarakhand, Himachal Pradesh, Tripura, Sikkim and Manipur.
Union territories and states such as Lakshadweep, Arunachal Pradesh, Mizoram, Ladakh, and Meghalaya ranked worst. |
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UNEP’s Annual Frontier Report 2022 |
United Nations Environment Programme |
Most noise polluted cities in India: 1. Moradabad, 2. Kolkata (89 dB), 3. Asansol (89 dB), 4. Jaipur (84 dB), 5. Delhi (83 dB).
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Most noise polluted city in world: 1. Dhaka (Bangladesh), 2. Moradabad (UP, India), 3. Islamabad (Pakistan), 4. Rajshahi (Bangladesh), 5. Ho Chi Minh City (Vietnam) Quietest cities in the world: Irbrid at 60 dB, Lyon at 69 dB, Madrid at 69 dB, Stockholm at 70 dB, and Belgrade at 70 dB.
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Celebrity Brand Valuation Report 2021 titled “Digital Acceleration 2.0” |
Duff & Phelps (Now Kroll) |
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Most valued celebrity: 1. Virat Kohli 2. Ranveer Singh 3. Akshay Kumar 4. Alia Bhatt |
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Hurun Global Forty and Under Self-Made Billionaires 2022 |
Hurun Research Institute |
India ranked 4th |
1. USA (37) 2. China (25) 3. United Kingdom (8), 4. India (6) 5. Sweden (3) World’s richest self-made billionaire aged 40 and under: 1. Mark Zuckerberg ($76 billion) 2. ByteDance CEO Zhang Yiming, 3. FTX CEO Sam Bankman-Fried, 4. Airbnb CEO Brian Chesky, 5. Facebook co-founder Dustin Moskovitz |
Ranking Index (February, 2022)
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Index |
Index released by |
India’s Rank |
1st Rank |
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Report on Most valued insurance brand globally |
London-based Brand Finance |
10th: Life Insurance Corporation strongest and the largest brand in the country with a valuation of $8.656 billion (around Rs 64,722 crore). |
Also, LIC is ranked 3rd in brand strength globally after Poste Italiane, Italy and Mapfre, Spain. |
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India Press Freedom Report, 2021 |
Rights and Risks Analysis Group |
Top states in attacks on journalists in 2021: 1. J&K 2. Uttar Pradesh 3. Madhya Pradesh 4. Tripura 5. Delhi Bihar |
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Global Digital Skills Index 2022 |
Salesforce |
India leads in Digital Skills Readiness |
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Bloomberg Billionaires Index |
Bloomberg |
Asia’s Richest Person: Gautam Adani ($88.5 billion) 2nd: Mukesh Ambani’s $87.9 billion 8th February, 2022 |
World’s richest person: 1st: Elon Musk ($235 Billion) 2nd : Jeff Bezos ($183 Billion) 3rd: Bernard Arnault ($168 Billion) 10th: Gautam Adani ($88.5 billion)
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TomTom Traffic Index Ranking 2021 |
TomTom |
Most-congested city in the world in 2021: 1st: Istanbul, Turkey 2nd: Moscow 5th: Mumbai 10th: Bengaluru 11th: New Delhi 21st: Pune |
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Democracy Index 2021 |
The Economist Intelligence Unit |
India ranked 46th |
1st: Norway 2nd: New Zealand 3rd: Finland 4th: Sweden 5th: Iceland 6th: Denmark 7th: Ireland 8th: Taiwan 9th: Australia 10th: Switzerland
Bottom 3: · North Korea · Afghanistan · Myanmar |
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Global Entrepreneurship Monitor 2021/2022 report |
India ranked 4th in Ease of Starting Business |
1st: Saudi Arabia 2nd: Netherlands 3rd: Sweden |
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9th USGBC top 10 ranking of Countries outside of US for Leadership in Energy and Environmental Design (LEED) in 2021 |
US Green Building Council (USGBC) |
India ranked 3rd |
1st: China 2nd: Canada |
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‘Deloitte 2022 CxO Sustainability Report: The Disconnect Between Ambition and Impact’ |
Deloitte Touche Tohmatsu Limited (DTTL) |
Indian businesses ranked 5th |
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10th International Intellectual Property Index, ‘Compete for Tomorrow’ (IIP Index 2022) |
Global Innovation Policy Centre (GIPC) of United States Chambers of Commerce (USCC) |
India ranked 43rd |
The top 5 countries: · Rank 1: United States of America · Rank 2: United Kingdom · Rank 3: Germany · Rank 4: Sweden · Rank 5: France |
Ranking Index (January, 2022 )
|
Index |
Index released by |
India’s Rank |
1st Rank |
|
Henley Passport Index 2022 |
Henley
prepared on the basis of exclusive data provided by International Air Transport Association (IATA) |
83rd |
Henley Passport Index 2022 rankings: · Rank 1: Japan, Singapore · Rank 2: Germany, South Korea · Rank 3: Finland, Italy, Luxembourg, Spain · Rank 4: Austria, Denmark, France, Netherlands and Sweden · Rank 5: Ireland, Portugal · Rank 6: Belgium, New Zealand, Norway, Switzerland, UK and US · Rank 104: North Korea · Rank 105: Nepal and Palestinian · Rank 106: Somalia · Rank 107: Yemen · Rank 108: Pakistan · Rank 109: Syria · Rank 110: Iraq · Rank 111 (Bottom): Afghanistan |
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Global List for ‘the On-Time Performance Review 2021 Airlines and Airports’ |
Cirium |
Chennai International Airport ranked 8th under the large airports category |
Rank 1st: Miami Airport (United States) Rank 2nd: Fukuoka Airport (Japan) Rank 3rd: Haneda Airport (Japan) |
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2021 Corruption Perceptions Index (CPI) |
Berlin, Germany-based non-governmental organisation Transparency International |
85th |
Rank 1st: Denmark, Finland, New Zealand Rank 4th: Norway Rank 180 (Last): South Sudan |
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World’s most valuable brand according to 2022 Global 500 report |
Brand Finance |
Tata Group (Rank 78th)- US$23.9 billion has emerged as the most valuable brand from India and also in South Asia. |
Rank 1st: Apple ($355.1 billion) World’s fastest-growing brand: TikTok (Rank 18th) US$59.0 billion Brands in the top 10: 2. Amazon 3. Google 4. Microsoft 5. Walmart 6. Samsung 7. Facebook 8. Industrial and Commercial Bank of China 9. Huawei 10. Verizon |