India is a country with 135 Crore population, for every country to have its functions go normally the country should possess a good economic planning. When it comes to economy, bank is a place where most of the transaction take place. Thus an economic country like India surely dependent on these banks. The number of banks in the course increasing day by day and even foreign countries are investing on India. There are both local and foreign banks.
Banking sector has found a great success in India as there is a huge population. India being one of the largest economies in the world, has had banking facilities since a long time, only that modernization of banking took place only recently. There have been several banks established, all governed by the Reserve Bank of India. In the very recent, Jan Dhan Yojana, people are encouraged to open bank accounts with Zero Balance, thus promoting banking in the country.
Here is the list of top ten best banks in India 2018
These banks have had highest number of satisfied customers under their names and are rendering excellent service in the Indian Banking Sector and the countdown follows:
10. Union Bank of India:
This Bank was founded in the year 1919 and is one of the largest government owned banks in India. It is headquartered at Mumbai and has its operations across the country with over 36,000 employees. It also operates with several operational branches overseas that include offices in Abu Dhabi, UAE, Beijing, China, London and many more. It has a network of over 6,000 ATM centers in the country. Its revenue for the year 2012 was estimated to be about US$3.1 billion, with about 63% of the share taken by the Government of India.
9. IDBI Bank:
This was founded in the year 1964 and its headquarters are located at Mumbai. The present assets management of this bank is estimated to be about $42 billion. This bank has about 1150 branches throughout the country and employs over 16,500 people for its operations. The bank has setup around 2000 ATM centers throughout the country. It is known for its products and services in the field of consumer banking, corporate banking, investment banking, finance and insurance, wealth management and agricultural loan facilities.
8. Bank of India:.
The bank began in the year 1906 and it has been serving since 110 years in India. It is known for its excellent service provided and also clean transactions. This bank currently has 4187 branches all over the country and also it is serving in foreign countries too. There are about 1700 ATM center for this bank all other country.
7. Axis Bank:
This bank was founded initially in the year 1993 and is currently headquartered in Mumbai, India. It is a private sector bank and its major stakeholders are some prominent international companies. Its products are Axis Bank was initiated the year 1994 and it is known for its great service. This bank known for its great service it has been providing since a long time. The total assets of this company is about 54$ billion. This company has its ATM center all of the country that is about 12000.
The next bank to be included in this top 10 list is Axis Bank, a leading private bank which was established in 1994. This bank is acclaimed for excellence in services and has nearly 2225 branches and 12000 ATMs in India and manages assets worth $54 billion.
6. Canara Bank:
Bubba Rao is the founder of this bank and this bank was initiated in the year 1906. Even now the bank is providing great service for all its customers. The total assets worth of this bank is about $61 billion. It has about 3200 branches all over the country and also they provide employment for about 44000 workers. This bank has about 4000 ATM centers all over the country.
5. HDFC Bank:
This bank is one of the best service provider since a very long time. This bank was initiated in the year 1994, since then they are excellent in what they are doing. The total assets of this bank is estimated to be about $66.7 billion. This bank has about 3200 branches all over the country and also it has around 12000 ATM center. This bank has been spotted in India over 1400 cities.
4. Bank of Baroda:
This is one of the oldest banks in the country and has been providing excellent service and customer satisfaction throughout all these years and the bank was initiated in the year 1908. The total assets of this bank is expertise to be about $73 billion. There are around 4200 branches all over the country and 2000 ATM centers have been established throughout.
3. Punjab National Bank:
This Punjab national Bank is having a total assets of about $90.9 billion and it is considered as one of the best banks in the country. The bank has also established about 5800 branches all over the country and also it has 6000 ATM centers all over the country. Thus it makes its way to the top third position.
2. ICICI Bank:
This bank is an international bank and is considered as one of the best banks in India. The total assets of this bank is about $99 billion making it to the second position in the list of top ten. The bank has about 3540 branches all over the country and also it has around 11000 ATM centers throughout the country.
1. State Bank of India:
This is one of the old banks initiated in the year 1955 and servings ever since then. The bank has employed about 3 lakh people all over the country. The bank has about 27000 bran. This bank has the highest amount of assets and its value is $390 billion. Hence this stands first.
Thus, this was the top ten banks in India in 2018. There are many more banks in the country even local and foreign ones but these are the ones with the highest amount of revenue and transactions and the ones offering great services to their customers.