The banking sector plays a significant role in the development of the Indian economy.

The banking system of India consists of the following banks:

  • 21 private sector banks
  • 27 public sector banks
  • 49 international banks
  • 56 regional rural banks
  • 1,560 urban cooperative banks
  • 94,380 rural cooperative banks

The most dominating position in the Indian market is enjoyed by public sector banks (PSBs). These banks hold approximately 80% of the market share. In these banks, the larger part (about more than 50%) is held by the Indian government.

Biggest Banks in India

Here is the list of top 6 biggest public sector banks (PSBs) in India in 2019 in terms of market capitalization.

1. HDFC Bank Ltd.

The Housing Development Finance Corporation (HDFC) is the largest private sector bank based on market capitalization and assets.

Here are some details about this bank:

  • Established in 1994
  • Headquarters in Mumbai
  • More than 88000 employees
  • 4900 branches and 13000 ATMs across 2727 cities in India
  • Market capitalization: Rs. 6,25,666.08 crores

2. State Bank of India (SBI)

State Bank of India (SBI) is the oldest and most reliable brand in India and one of the world’s biggest corporations. It is the 2nd largest bank owned by the Indian government in terms of market capitalization.

Here are some details about the SBI bank:

  • Established in 1955
  • Headquarters in Mumbai (Maharashtra)
  • More than 26350 branches across India
  • Over 60,000 ATM across India
  • 195 offices in 36 countries
  • Serving more than 43 crores customers
  • Market Capitalisation: Rs. 2,93,218.11 crore

3. ICICI Bank Ltd

ICICI bank is one of the most popular banks in India. It was established in June 1994 in Vadodara by the Industrial Credit and Investment Corporation of India.

Here are some details about the ICICI bank:

  • headquarters in Mumbai (Maharashtra)
  • more than 4870 branches across India
  • More than 14367 ATMs across India
  • International presence in 16 countries
  • the market capitalization of Rs. 2,56,205.53 crore

4. Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank is the fourth largest bank in India, based on market capitalization. This bank was established in February 2003.

Here are some details about Kotak Mahindra bank:

  • Achieved 245th rank in brand finance banking in 2014
  • Approximately 50,000 employees across India
  • Market Capitalisation: Rs. 2,55,537.49 crores

5. Axis Bank Ltd.

In terms of market capitalization, Axis bank stands at 5th position in India.

Here are some details about the Axis bank:

  • The fifth-largest bank in India
  • Headquarters in Mumbai
  • About 4000 branches across different cities India
  • 12700 ATMs across different cities in India
  • More than 55000 employees across India
  • the market capitalization of Rs. 1,97,360.89 crores

6. IndusInd Bank Ltd.

IndusInd bank of India stands at 6th position in terms of market capitalization according to the survey of April 2, 2019

Here are some details about the IndusInd bank:

  • Established in 1994
  • Headquarters in Mumbai
  • 1558 branches across India
  • 2450 ATMs across India
  • the market capitalization of Rs. 1,07,064.08 crores