Nationalized Commercial Banks in India

Nationalized Commercial Banks in India:

The following 7 commercial banks were nationalized and made the Subsidiaries of State Bank of India ( 4 in the year on 19th July 1960 and 3 on 19th July 1969) :

State Bank of Hyderabad (SBH)-Founded by the last Nizam of Hyderabad in the year 1941-(Nationalized in 1960),

State Bank of Mysore (SBM)-Established in 1913 as by (late) Dr. M. Visvesvaraya under the sponsorship of the then Government of Mysore- (Nationalized in 1960),

State Bank of Patiala (SBP)-Founded on 17th of November, 1917 by His Highness Bhupindar Singh, the Maharaja of the princely state of Patiala- (Nationalized in 1960),

State Bank of Saurashtra (SBS) ,

State Bank of Travancore (SBT)-Founded in the year 1945- (Nationalized in 1960),

State Bank of Bikaner and Jaipur (SBBJ)-Founded in 1963 at Jaipur- (State Bank of Bikaner founded in 1944 took over the State Bank of Jaipur founded in 1943)- (Nationalized in 1969) and

State Bank of Indore (SBIR)-Founded in the year 1963- (Nationalized in 1969)

The following 14 Major Commercial Banks were nationalized on 19th July 1969 during the then Prime Minister of India, Mrs.Indira Gandhi:-

Allahabad Bank-Founded by a Group of Europeans on 24th April 1865 at Allahabad

Bank of Baroda-Founded in the year 1908 in Baroda

Bank of Maharashtra-Founded on 16th September 1935 at Pune

Bank of India-Founded in September 1906 at Mumbai

Canara Bank-Founded on 1st July 1906 at Bangalore

Central Bank of India-Founded by Sir Sorabji Pochkhanawala at Mumbai in the year 1911.

Dena Bank-Founded on 26th May 1938 by Devkaran Nanjee family

Indian Bank-Founded on 15th August 1907 as a part of Indian Swadeshi Movement at Chennai (then Madras)

Indian Overseas Bank-Founded in the year 1937 at Chennai (then Madras)

Punjab National Bank-Founded in Lahore in the year 1894

Syndicate Bank -Founded in Udipi in Karnataka in the year 1925

UCO Bank-Founded in 1943 by Birla at Kolkata (the then Calcutta)

Union Bank of India-Inaugurated by Mahatma Gandhi in November 1919 .

United Bank of India-Inaugurated by Mahatma Gandhi in November 1919 – nationalized in 1975

IDBI Bank Ltd:

IDBI-Industrial Development Bank of India was established as a subsidiary of Reserve Bank of India-RBI on 1st July 1964. From 1st October 2004 IDBI Bank Ltd started commencing as a Full Service Commercial Bank.

The following 6 Commercial Banks were nationalized in the year 1980:

Andhra Bank -Founded in the year 1923

Corporation Bank-Founded in the year 1906 at Udupi in Karnataka

New Bank of India- Established in the year 1968/Renamed as New India Bank in the year 1977

Oriental Bank of Commerce-founded in Februray 1943 at Lahore

Punjab and Sind Bank-Founded at Amritsar in the year 1908

Vijaya Bank -established by Mr.A.B.Shetty on 23rd October 1931

The following are the Private Sector Scheduled Banks in India:

Vysya Bank Ltd

Axis Bank Ltd

Indusind Bank Ltd

ICICI Banking Corporation Bank Ltd

Global Trust Bank Ltd

HDFC Bank Ltd

Centurion Bank Ltd

Bank of Punjab Ltd

The following are the Scheduled Foreign Banks in India:

American Express Bank Ltd.

ANZ Gridlays Bank Plc.

Bank of America NT & SA

Bank of Tokyo Ltd.

Banquc Nationale de Paris

Barclays Bank Plc

Citi Bank N.C.

Deutsche Bank A.G.

Hongkong and Shanghai Banking Corporation

Standard Chartered Bank.

The Chase Manhattan Bank Ltd.

Dresdner Bank AG.