Top 10 PSU Banks in India in 2024

The evolution of banking in India is an illustrious chapter in the country’s economic narrative. Closely knit with the aspirations of the Indian masses, it reflects the changing dynamics of the pre-independence period. After 341 years, the necessities for banking and the role it plays is unavoidably multifaceted.

As per a report, India has 12 public sector banks, 22 private sector banks, 44 foreign banks, 43 regional banks, 1484 urban cooperative banks and 96,000 rural cooperative banks. Yet, certain banks have the edge on the popularity factor, mostly through their innovative customer acquisition and retention techniques or people’s unwavering trust in them (or both).  

In this article, we have compiled a list of the top ten public sector banks (aka public sector undertaking banks, aka government-owned banks) on three parameters. Firstly, it is based on the market capitalization which, in simple words, would show us the size of the company. Secondly, we ranked it based on the number of branches and ATMs and Cash Recycling Machines (CRMs). This shows us the strength of their network. And finally, we ranked it based on the number of active customers on their mobile and internet banking channels illustrating their digital prowess. Let’s begin.