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Nationalized Banks in India - Check the Full List Here

14 Nationalized Banks of India.

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Pratidin Bureau
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Nationalized Banks in India - Check the Full List Here

The Indian government nationalized 14 banks on July 19, 1969, marking the first annual Bank Nationalized Day. The term "public sector banks" is used to describe the vast majority of nationalized banks in India. Nationalization, as defined by the International Monetary Fund (IMF), is the process by which the government seizes and brings privately held assets into public ownership.

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History and Significance of Nationalization of Banks

Since India's independence, the country's leaders have made steady economic expansion a top priority. With the advent of the five-year plan in 1951, the private sector saw a surge in the number of commercial banks to 400. All these private banks were out for themselves, and they did not work in the government's best interests. After the passage of the SBI Act in July 1955, SBI (State Bank of India) became the country's first nationalized bank. On July 19, 1960, the State Bank of India and seven of its subsidiaries were nationalized.


In the subsequent years, the Indira Gandhi government made the decision to take over 14 large commercial banks with at least Rs. 50 crore in deposits. The next wave of nationalization took effect in April 1980, when another six banks were taken over by the government. At the end of the second phase of nationalization, the government was in charge of about 91% of India's banking industry. Here's the full list of nationalized banks in India:

S:No Bank Names "Year of
Nationalisation"
Head Office Details
1 Andhra Bank 1980 "The Chairman
Allahabad Bank
Head Office 2 Netaji Subhas Road
Calcutta-700 001."
2 Allahabad Bank 1969 "The Chairman
Andhra Bank
Andhra Bank Building Sultan Bazar P.B.No.161
Hyderabad-500 001."
3 Bank of Baroda 1969 "The Chairman
Bank of Baroda
Baroda Corporate Centre C-26 G-Block Bandra-Kurla Complex Bandra (East) Mumbai-400 051."
4 Bank of India 1969 "The Chairman
Bank of India
Head Office Express Towers Nariman Point Mumbai-400 021."
5 Bank of Maharashtra 1969 "The Chairman
Bank of Maharashtra
Lok Mangal 1501 Shivaji Nagar Post Box No.919
Pune-411 005."
6 Canara Bank 1969 "The Chairman
Canara Bank
112 Jayachamarajendra Road Post Box No.6648
Bangalore-560 002."
7 Central Bank of India 1969 "The Chairman
Central Bank of India
Central Office Chander Mukhi Nariman Point
Mumbai-400 021."
8 Dena Bank 1969 "The Chairman
Dena Corporate Centre
C-10 G Block Bandra Kurla Complex Bandra East
Mumbai 400 051."
9 Corporation Bank 1980 "The Chairman
Corporation Bank
Bharath Building G.H.S. Road Post Box No.88
Mangalore-575 001"
10 Indian Bank 1969 "The Chairman
Indian Bank
Building P.B.No.1384 31 Rajaji Road Chennai-600 001."
11 Indian Overseas Bank 1969 "The Chairman
Indian Overseas Bank
Central Office 762 Anna Salai P.B.No.3765
Chennai-600 002."
12 Oriental Bank of Commerce 1980 "The Chairman
Oriental Bank of Commerce
E-Block Connaught Place P.B.No.329
New Delhi-110 001"
13 Punjab & Sind Bank 1969 "The Chairman
Punjab & Sind Bank
Bank House 4th floor 21 Rajendra Place
New Delhi-110 008."
14 Punjab National Bank 1969 "The Chairman
Punjab National Bank
7 Bhikaji Cama Place Africa Avenue
New Delhi-110 066."
15 Syndicate Bank 1969 "The Chairman
Syndicate Bank
Post Box No.1 Manipal-576 119
Karnataka State."
16 UCO Bank 1969 "The Chairman
UCO Bank
Head Office 10 Biplabi Trailokya Maharaj Sarani
Calcutta-700 001."
17 Union Bank of India 1969 "The Chairman
Union Bank of India
Union Bank Building Central Office 239 Backbay Reclamation Post Box No.93A Nariman Point Mumbai-400 021."
18 United Bank of India 1969 "The Chairman
United Bank of India
16 Old Court House Street
Calcutta-700 001."
19 Vijaya Bank 1969 "The Chairman
Vijaya Bank
Administrative Office Janardhan Towers No.2 Residency Road
Bangalore-560 025."
Nationalized Banks