Public Sector Banks And Their Headquarters
In government exams like SSC, Banking, Railways, etc we find many questions from the Banking section, especially from banks and their headquarters. This section is a part of the general awareness paper. Here we are going to provide comprehensive coverage of this section in this article so that students can learn and get most of the questions correct in this section. In this article, we will discuss Public sector banks.
Public Sector Bank: An Introduction :
Public sector banks (PSBs) are those in which the government owns more than 50% of the shareholding.
The government regulates the financial guidelines for these banks. Depositors believe that their money will be safe in public sector banks because they are owned by the government. As a result, the majority of public sector banks have a sound customer base. For example the State bank of India, Bank of Baroda, etc.
List of Banks: The table is given below :
Bank Name | Headquarter | Tagline | (CEO/MD) |
Andhra Bank | Hyderabad | Where India Banks | J Packirisamy |
Indian Bank (Allahabad Bank got merged) |
Chennai | Your own bank, Banking That’s twice as good | Shanti Lal Jain |
Bank of Baroda ( Dena Bank & Vijaya Bank got merged) |
Vadodara | India’s International Bank | Shri Sanjiv Chadha |
Bank of India | Mumbai | Relationship beyond banking | Atanu Kumar Das |
Bank of Maharashtra | Pune | One Family One Bank | A.S Rajeev |
Corporation Bank | Mangalore | Prosperity for All | P.V. Bharathi |
Central Bank of India | Mumbai | Central to you since 1911, Build a better life around us | M. V. Rao |
Canara Bank (Syndicate Bank got merged) |
Bengaluru | Together we can | L V Prabhakar |
Union Bank of India | Mumbai | Good People to Bank with | A. Manimekhalai |
Syndicate Bank | Manipal | Faithful and Friendly | Mrutyunjay Mahapatra |
UCO Bank | Kolkata | Honours Your Trust | Soma Sankara Prasad |
State Bank of India | Mumbai | With You all the way, Pure Banking Nothing Else, The Nation Banks on us, The Banker to Every Indian | Dinesh Kumar Khara |
Indian Overseas Bank | Chennai | Good People to grow with | Partha Pratim Sengupta |
Punjab & Sind Bank | New Delhi | Where service is a way of life | Swarup Kumar Saha |
Punjab National Bank (United Bank of India & Oriental Bank of Commerce got merged) |
New Delhi | The Name You Can Bank Upon | Atul Kumar Goel |
Frequently Asked Questions Related to PSBs :
Que 1. Which is the biggest public sector bank in India?
Ans. State Bank of India.
Que 2. Why government is merging PSBs in India?
Ans. Due to rising Non Performing assets, banks are getting short of enough credit to finance large projects. hence the government has decided to merge banks.
Que 3. What is Financial Inclusion?
Ans. Financial inclusion is the method of guaranteeing access to monetary services and timely and adequate credit wherever required by vulnerable sections like weaker sections of society and low-income groups at a reasonable cost.
Que 4. What is Repo Rate And Reverse Repo rate?
Ans. The Repo rate is the rate at which RBI lends money to banks for the short term. The reverse repo rate is the rate at which RBI borrows money from Commercial banks for a short term.
Que 5. Which are the banks that got merged into the Bank of Baroda?
Ans. Dena bank and Vijaya bank.
Que 6. What is SLR?
Ans. SLR is the minimum percentage of deposits that a commercial bank has to maintain in the form of liquid cash, gold, or in other securities.
Que 7. What is the difference between a savings account and a current account?
Ans. A Savings Account, allows you to deposit your money, safe with the bank, so you don’t have to carry it around with you. A Current Account is also known as a financial account is a type of deposit account maintained solely or jointly for carrying out large value transactions on a regular basis. It does not provide interest, unlike a savings bank account.
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