Public Sector Banks List 2020

Public Sector Banks (Government Shareholding %, as of 1st April, 2020)

Public Sector Banks (PSBs) are a major type of bank in India,
where a majority stake (i.e. more than 50%) is held by the government.
In April 2019, Vijaya Bank and Dena Bank were merged with Bank of Baroda.
On 30 August 2019, Union Finance Minister Nirmala Sitaraman announced merger of six public sector banks (PSBs) with four better performing anchor banks in order to streamline their operation and size,
two banks were amalgamated to strengthen national presence and four were amalgamated to strengthen regional focuses. Subsequently,
the number of public sector bank has been reduced to 12 from 27
This new amalgamation came effective from 1 April 2020

Bank of Baroda (63.74%)
Bank of India (87.054%)
Bank of Maharashtra (87.01%)
Canara Bank (72.55%)
Central Bank of India (88.02%)
Indian Bank (81.73%)
Indian Overseas Bank (91%)
Punjab and Sind Bank (79.62%)
Punjab National Bank (70.22%)
State Bank of India (61.00%)
UCO Bank (93.29%)
Union Bank of India (67.43%)

Select bank (IFSC CODE)