List of Top Banks in India - Best Indian Banking System Ranking

The history of modern banking services in India is two hundred years old. Modern banking in India started in the British Raj. In the beginning of the 19th century British East India Company started 3 banks - Bank of Bengal in 1806, Bank of Bombay in 1840 and Bank of Madras in 1843. But later these three banks were merged into a new bank called 'Imperial Bank' which was merged with 'State Bank of India' in 1955. Banking in India is very convenient and hassle free. Anyone (person, group or anyone) can easily process a transaction whenever anyone needs it. Below is the list of banks in India and their banking system ranking by users.

1. Punjab National Bank

Punjab National Bank, founded in 1895, is the second largest state-owned commercial bank in India with around 6,937 branches throughout 764 cities. This bank serves more than 80 million customers.

2. IDFC Bank

The IDFC is an Indian banking company with headquarters in Mumbai that forms part of IDFC, an integrated infrastructure finance company.

3. Kotak Mahindra Bank

Kotak Mahindra Bank is a private bank headquartered in Mumbai, Maharashtra. Kotak Mahindra Bank was founded in 1958 by Odu Kutak, in February 2003, RBI had issued licenses to Kotak Mahindra Finance Ltd.

4. Yes Bank

Yes Bank is an Indian bank. It was founded in 2004 by Rana Kapoor. Main branch in Mumbai. In the financial year 2013/2014, it has a balance sheet total of INR 109 billion. In India, it is the fifth largest bank in the private sector.

5. Bank of Baroda

Bank of Baroda (BoB) is an Indian state-owned financial services and banking company headquartered in Vadodara (formerly known as Baroda) in Gujarat, India. The company has a corporate office in Mumbai.

6. Canara Bank

Canara Bank is a state-owned financial services company in India. It was established in 1906, which makes it one of the oldest bank in the country. The government of India nationalized Canara Bank, along with 13 other large commercial banks in India on July 19, 1969. In 1976, Canara Bank opened its 1,000th branch.

7. ICICI Bank

ICICI bank has subsidiaries in the United Kingdom, Russia and Canada, branch offices in the United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Financial Centers, and representative offices in the United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. A subsidiary of the United Kingdom at ICICI Bank has established a branch office in Belgium and Germany.

8. HDFC Bank

HDFC Bank Limited is a major financial services company in India. This bank is promoted by Housing Development Finance Corporation. HDFC Bank is one of the Big Four banks in India, after the State Bank of India, ICICI Bank and Punjab National Bank.

9. Indian Bank

Indian Bank is a nationalized bank of India. The bank was founded in 1907 in Chennai. Founded as a part of the Swadeshi movement on August 15, 1907. Look forward to serving the country with a team of more than 19,300 dedicated employees. As on march 2011, total business turnover of Rs. Crossed 1,81,530 crore. Operating Profit on march 2011, An increase of 3291.68 crores and net profit increase of Rs. 1714.07 crores.

10. State Bank of India

SBI provides various banking products through extensive branch networks in India and abroad, including products aimed at non-resident Indian leaders (NRIs). The State Bank Group, with more than 18,354 branch offices, has the largest banking branch network in India. SBI has 14 Local Head Offices and 57 Regional Offices located in important cities throughout India. Bani also has around 130 overseas branches.

11. Union Bank of India

Union Bank of India is a public sector unit of India, of which 55.43% shares the capital with the Indian government. The bank came into the capital market on August 20, 2002 with the initial public offer (IPO) and flow-on public offer in February 2006. At present, 44.57% of the bank's assets are with the capital institutions, individuals and others. In the past years, the bank has earned the reputation of being a techno-savvy bank and is a leading bank in public sector banks with modern banking ideology.