Top 10 Banks In India: Check the List of Banks
Top 10 Banks in India 2023: The significant banks in India have contributed to the country’s progress in various ways. The banking industry is crucial for the growth of any economy. The leading 10 banks in India have been the primary players in the banking sector for an extended period, collectively holding over 70 percent of the market share. Furthermore, investing in Indian banks has become increasingly appealing and stands out as a dominant sector in the Asia-Pacific region.
This article has provided a list of the largest banks in the country. These banks are responsible for creating the highest number of job opportunities in the country. Moreover, they have contributed to the increasing purchasing power capability and per capita income of the country. Check the complete list of the top 10 banks in the country and find the key details about them in this article.
Below is the list of the top banks in India in terms of market capitalisation for 2023. India is home to 12 public sector banks and 21 private sector banks. In addition, there are 45 foreign banks in the private sector supporting the Indian banking system.
| Rank & Bank Name | Type | Market Cap (Rs Lakh Crore) |
|---|---|---|
| HDFC Bank | Private | 11.61 |
| ICICI Bank | Private | 6.65 |
| SBI | Public | 5.13 |
| Kotak Mahindra | Private | 3.47 |
| Axis Bank | Private | 3.09 |
| IndusInd Bank | Private | 1.12 |
| Bank of Baroda | Public | 1.06 |
| Punjab National Bank | Public | 0.828 |
| Union Bank of India | Public | 0.778 |
| IDBI Bank | Private | 0.752 |
Given below are the largest private banks in India 2023. The list contains the best private banks and government banks in India.
IDBI (Industrial Development Bank of India) started as a development financial institution to provide financial services to the industrial sector when it was established by the government of India in 1964. In 2005, the institution was merged with the commercial division to make the present-day IDBI Bank. SIDBI, EXIM, National Stock Exchange of India, SEBI, and National Securities Depository Limited have their roots in IDBI. The government of India now holds a 45.48 percent stake in the bank, and the controlling share of 49.24 percent is held by Life Insurance Corporation (LIC) after the institute was asked to infuse capital and manage the bank to meet the regulatory norms in 2019.
Mahatma Gandhi inaugurated the Union Bank of India’s office when it was established in 1919. The bank was nationalised in 1969 with 14 other banks to utilise their funds and resources for the development of the country. UBI had four branches when India became independent. Today, it has a network of more than 8700 branches across India, thanks to the merger with Corporation Bank and Andhra Bank in April 2020.
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