Banks are very common now a days. Even a small child also know what is bank and its functionalities. The main reason behind these are all India government is dealing all money related activities through a bank account like pension, scholarships etc. So in modern world all money transactions are depending up on the bank. So even a small child and a aged ones also going to bank for taking their bank account.
Here we are discussing about the 5 top nationalized banks in India. Nationalized banks means that a national government or State takes over the private industry, organisation or assets into public ownership by an Act or ordinance or some other kind of orders. This has been frequently adopted by socialist governments for transition from capitalism to socialism.
5 top nationalized banks in India
1. BANK OF BARODA
2. PUNJAB NATIONAL BANK
3. CENTRAL BANK OF INDIA
4. CANARA BANK
5 .UNION BANK OF INDIA
BANK OF BARODA
Bank of Baroda is an Indian state-owned banking and financial services company that headquartered in Vadodara, Gujarat. This is the second largest bank in India. The bank was founded by Maharaja Sayajirao Gaekwad III, and it was nationalised on 19 July 1969, by the Government of India and has been designated as a profit-making public sector undertaking (PSU).
Bank of Baroda have 5307 branches in India and abroad, and over 8000 ATMs that provide good services to the customers. It has 104 branches/offices in 24 countries around the world. It also gives the facilities of Wealth Management, Credit Cards, Debit Cards and Loans. Bank of Baroda introduced its first charged card named BOBCARD in the year 1984, first Non-banking company in India issuing credit cards. Bank of Baroda also offers internet banking service and its come under the name of Baroda Connect.
PUNJAB NATIONAL BANK
Punjab National Bank, Indian multinational banking and financial services company, and it is founded in . Founded in 1894. This bank have more than 6000 branches and also have more than 7000 ATMs in the country. Punjab National Bank gives facility to Credit cards, consumer banking, corporate banking, finance and insurance,investment banking, mortgage loans, private banking, private equity and wealth management.
The bank gives excellent and quality services to their various customers. The total income generated by Punjab National Bank 2014-2015 financial year is crossed the mark of Rs 52,000 Crore and its net profit was more than of Rs 30,000 Crore.
CENTRAL BANK OF INDIA
Central Bank of India is a government-owned bank, and it is one of the oldest and largest commercial banks in India. It was launched on 21 December 19 and head quarters in Mumbai and it is the first commercial Indian bank completely owned and managed by Indians. The bank has 4700 branches, 5000 ATM’s and 4 extension counters across in 27 Indian states and three Union Territories.
Central Bank of India is the one of the first banks in India to issue credit cards in the year 1980 in collaborated with MasterCard. The bank offering some of services include Loans, NRI Banking, Credit Card, Debit Card and Deposits etc.
Canara Bank is an Indian state-owned bank was founded by Shri Ammembal Subba Rao Pai, a great visionary and philanthropist, in July 1906, headquartered in Bangalore, in Karnataka.
This bank have more tahn 57oo branches spread across all geographical segments and also have more than 9000 ATM. This bank gives facilities of Investment Banking, Consumer Banking, Commercial Banking, Retail Banking, Private Banking, Asset Management, Pensions, Mortgages and Credit Cards.
The Bank also made several value facilities under internet banking and mobile banking services. The Bank has introduced enhanced version of CanMobile, Canara e-InfoBook- an electronic passbook and banking related information facility on mobile platforms – Android, Windows8 & iOS and Canara m-Wallet to provide more convenience and facilities to customers. Canara bank have total asset of 4.72 trillion in the financial year 2015.
UNION BANK OF INDIA
Union Bank of India was established on 11th November 1919, and its headquarters in the city of Mumbai. The have operates through more than 4200 branches and more than 6900 ATM’s. This bank have the employee strength of more than 36000.
Union bank of india provide good service to all its customers and their services include Loans, Mobile Banking and Internet Banking. Market capitalization of this bank is Rs 7,816/- Crore