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Public Sector Banks in India

PUBLIC SECTOR BANKS OF INDIA

PUBLIC SECTOR BANKS OF INDIA – NATIONALISED BANKS OF INDIA

The Banking scenario in India has considerably changed if the last decade is considered. The width and depth of financial system in India has improved. The new technology has also added to the improvement and has made banking transactions just a click away. Nationalised or Public Sector Banks earlier being quite reluctant to the acceptance of this change have now succeeded by making a rapid makeover and concentrating more on a customer centric policy. Nationalised Banks are of higher quality because they are clean, strong and transperant. These banks offer various quality services to the customer and also offer different insurance policies.

Public Sector Banks of India

Banking in India originated in the last decades of the 18th century. The first banks were The General Bank of India, which started in 1786, and Bank of Hindustan, which started in 1790, both are now defunct. The oldest bank in existence in India is the State Bank of India, which is also the largest bank in the country. Nationalised or public sector banks have always dominated other banks in the country. The main mtive behind nationalising banks in India was to make it reach very acute rural areas and be able to provide quality services.

Here is a list of the public sector banks of India :

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