Banks in India & Types of Banks in India

Banks in India

Banks in India & Types of Banks in India

The banking sector in India plays a vital role in the economy of India. It provides support to the economy of the country and thus enables the government to maintain a stable economy. If you are looking for a list of banks in India, this article is for you. The list of Banks listed below under types of banks in India. Banking in India was made easy by dividing the banks into different categories like Scheduled banks, non-scheduled banks, Commercial Banks, Cooperative Banks, Regional Rural Banks etc.

United Bank of India played a major role in Banks in India and BOI divided into several categories like Private Sector Banks, Public Sector Banks, Cooperative Banks, Payment Banks, Foreign Banks, Regional Rural Banks and Small Finance Banks. Go through the detailed list of banks in India to know the names of all the major and minor Indian banks. All these banks run under the Guidelines of RBI (Reserve Bank of India). To start any bank in India it should be approved by RBI & fulfill all necessary requirements, Rules & regulations of RBI.

Type of Banks in India
Type of Banks in India

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List of Types of Banks in India

1 Cooperative banks
                a. State Cooperative Banks (SCBs)
                                 i. Scheduled State Co-operative Banks 
                                 ii. Non- Scheduled State Cooperative Banks 
                b. Urban Cooperative Banks (UCBs)
                                 i. Scheduled Urban Cooperative Banks 
                                 ii. Non- Scheduled Urban Cooperative Banks 
               c. District Cooperative Banks
2 Regional Rural Banks (RRBs)
3 Nationalised Banks or Public-Sector Banks or Government Banks
4 Private Sector Banks or Private Banks
5 Payments Banks
6 Foreign Banks
                a. Foreign Banks with branches in India
                b. Foreign Banks with representative offices in India
7 Small Finance Banks
8 Local Area Banks

Reference : https://en.wikipedia.org/wiki/List_of_banks_in_India