Top 10 Banks in India: The banking sector in India is a vital part of the country’s economy, with a diverse mix of public sector, private sector, and foreign banks supporting financial stability and growth. For 2024, here are the top 10 largest banks in India by market capitalisation.
List of Top 10 Banks in India
1. HDFC Bank
HDFC Bank is the largest bank in India by market capitalisation. Founded in 1994, it has grown to become a major player in the financial services industry. Headquartered in Mumbai, HDFC Bank offers a wide range of products and services to its customers, solidifying its position as a leader in the banking sector.
- Type: Private Company
- Industry: Financial Services
- Founded: 1994
- Chairman: Atanu Chakraborty
- Headquarters: Mumbai, India
2. State Bank of India (SBI)
State Bank of India, the largest public sector bank, has a significant market share in India. With a rich history dating back to 1806, SBI has evolved into a banking giant, providing extensive financial services across the nation.
- Type: Public Company (Government of India)
- Industry: Banking, Financial Services
- Founded:
- 2nd June 1806 – Bank of Calcutta
- 27th January 1921 – Imperial Bank of India
- 1st July 1955 – State Bank of India
- 2nd June 1956 – Nationalisation
- Chairperson: Dinesh Kumar Khara
- Headquarters: Mumbai, India
3. ICICI Bank
ICICI Bank is one of the leading private sector banks in India. Since its inception in 1994, ICICI Bank has been at the forefront of innovation in the banking industry.
- Type: Private Sector
- Industry: Banking & Financial Sector
- Founded: 1994
- Chairperson: Girish Chandra Chaturvedi
- Headquarters: Mumbai, India
4. Axis Bank
Axis Bank is the third largest private sector bank in India by market capitalisation. Founded in 1993, it has grown rapidly and offers a wide range of financial services.
- Type: Private Sector
- Industry: Banking & Financial Sector
- Founded: 3 December 1993
- Chairperson: Amitabh Chaudhry
- Headquarters: Mumbai, India
5. Kotak Mahindra Bank
Kotak Mahindra Bank has established itself as a key player in the banking sector since it was founded in 2003. It offers a comprehensive suite of financial services to its customers.
- Type: Private Sector
- Industry: Banking & Financial Sector
- Founded: February 2003
- Chairperson: Prakash Apte
- Headquarters: Mumbai, India
6. IndusInd Bank
IndusInd Bank, founded in 1994, is known for its robust customer service and innovative banking solutions.
- Type: Private Sector
- Industry: Banking & Financial Sector
- Founded: 1994
- Chairperson: Arun Tiwari
- Headquarters: Mumbai, India
7. Yes Bank
Yes Bank, founded in 2004, has rapidly climbed the ranks to become a significant player in the Indian banking sector. It is recognized for its extensive financial services and customer-centric approach.
- Type: Private Sector
- Industry: Banking & Financial Sector
- Founded: 2004
- Chairperson: Sunil Mehta
- Headquarters: Mumbai, India
8. Punjab National Bank (PNB)
Punjab National Bank is the second largest public sector bank in India. Established in 1895, PNB has a long history and extensive network across the country.
- Type: Public Sector
- Industry: Banking & Financial Sector
- Founded: April 12, 1895
- Key Person: Atul Kumar Goel
- Headquarters: New Delhi, India
9. Bank of Baroda (BoB)
Bank of Baroda is one of the leading public sector banks in India. Founded in 1908, BoB has a significant presence in the Indian banking industry.
- Type: Public Sector
- Industry: Banking & Financial Sector
- Founded: 20 July 1908
- Chairperson: Hasmukh Adhia
- Headquarters: Vadodara, India
10. Bank of India
Bank of India, established in 1906, is one of the largest public sector banks in India, known for its wide array of financial products and services.
- Type: Public Sector
- Industry: Financial Services
- Founded: 7 September 1906
- Key Person: Atanu Kumar Das (MD & CEO)
- Headquarters: Mumbai, India
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FAQs on Best Banks in India
Q1: Which is the largest bank in India?
- Ans: Some of the largest banks in India are HDFC, SBI, ICICI, Axis Bank, and Kotak Mahindra Bank.
Q2: Which is the best bank in India?
- Ans: HDFC is marked as India’s No. 1 Bank in Forbes World’s Best Bank report.
Q3: Which one is a better bank, SBI or ICICI?
- Ans: There are several factors which determine a better bank. One comparison factor is the interest rate where SBI’s interest rate is 9.60 per cent whereas, the interest rate of ICICI is 10.25 per cent.
Q4: What is the age limit for clerical posts?
- Ans: The age limit for clerical posts varies according to the different banks that you opt.
Q5: Is there any negative marking in the bank recruitment exam?
- Ans: Yes, there is a negative marking of 1/4th of marks deducted for every wrong answer in the exam.
Explore your career opportunities in the banking sector with these leading banks in India. Whether you are looking for stability, growth, or innovation, these top banks offer a promising future.
