How important is the banking sector for a country? Undoubtedly, it is the backbone of an economy.

In terms of market capitalization, the major banks in India are among the top banks worldwide.

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The Indian government founded IDBI (Industrial Development Bank of India) in 1964 with the goal of serving the industrial sector as a development finance institution. The organization and the commercial branch combined in 2005 to form the current IDBI Bank.

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Four branches of UBI existed when India gained independence. Thanks to the merger with Corporation Bank and Andhra Bank in April 2020, it now has a network of more than 8700 branches throughout India.

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The bank's significant presence in rural and semi-urban areas demonstrates its dedication to financial inclusion. It has more than 180 million customers. As one of the bank's original founders, freedom fighter Lala Lajpat Rai was intimately involved in the early management of the institution.

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Bank of Baroda, which has its headquarters in Vadodara, Gujarat, merged with Dena Bank and Vijaya Bank in the first-ever three-way merger.

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One of India's leading private banks is IndusInd Bank. The bank provides a range of financial services and has branches mostly in major Indian metropolises, as well as representative offices in Dubai, Abu Dhabi, and London.

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It specializes in financial services for retail, small and medium-sized enterprises, and corporations. Prioritizing digital banking, Axis Bank meets a wide range of retail, corporate, and institutional demands while guaranteeing a smooth and user-friendly experience.

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Uday Kotak, who had been the MD and CEO of Kotak Mahindra Bank Ltd. for 21 years, has stepped down. His successor is yet to be determined, and the RBI has reportedly rallied for an outsider to succeed him.

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SBI is the biggest public sector bank in India, with its main office located in Mumbai. With over 233 overseas branches spread across 36 countries, it has a significant international presence in addition to its 22,405 branches in India.

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It is well-known for its customer-friendly attitude, affordable prices, and cutting-edge technology, and it serves millions of clients in India and outside. Notably, ICICI Bank stated in its most recent ESG Report that its green finance portfolio accounted for 21.4% of the entire amount they gave out in 2023, or over $119 billion.

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Based on market capitalization, HDFC Bank ranks fourth globally and is the biggest bank in India. It is a well-known entity in the financial sector and is one of the top private banks in India.

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How important is the banking sector for a country? Undoubtedly, it is the backbone of an economy.

In terms of market capitalization, the major banks in India are among the top banks worldwide.

The Indian government founded IDBI (Industrial Development Bank of India) in 1964 with the goal of serving the industrial sector as a development finance institution. The organization and the commercial branch combined in 2005 to form the current IDBI Bank.

10. IDBI Bank

Type : Private

Market Cap (Rs Lakh Crore):0.752

CEO: Rakesh Sharma

Four branches of UBI existed when India gained independence. Thanks to the merger with Corporation Bank and Andhra Bank in April 2020, it now has a network of more than 8700 branches throughout India.

9. Union Bank of India

Type : Public

Market Cap (Rs Lakh Crore):0.778

CEO: A. Manimekhalai

The bank's significant presence in rural and semi-urban areas demonstrates its dedication to financial inclusion. It has more than 180 million customers. As one of the bank's original founders, freedom fighter Lala Lajpat Rai was intimately involved in the early management of the institution.

8. Punjab National Bank

Type : Public

Market Cap (Rs Lakh Crore): 0.828

CEO: Atul Kumar Goel

Bank of Baroda, which has its headquarters in Vadodara, Gujarat, merged with Dena Bank and Vijaya Bank in the first-ever three-way merger.

7. Bank of Baroda

Type : Public

Market Cap (Rs Lakh Crore): 1.06

CEO: Debadatta Chand

One of India's leading private banks is IndusInd Bank. The bank provides a range of financial services and has branches mostly in major Indian metropolises, as well as representative offices in Dubai, Abu Dhabi, and London.

6. IndusInd Bank

Type : Private

Market Cap (Rs Lakh Crore): 1.12

CEO: Sumant Kathpalia

It specializes in financial services for retail, small and medium-sized enterprises, and corporations. Prioritizing digital banking, Axis Bank meets a wide range of retail, corporate, and institutional demands while guaranteeing a smooth and user-friendly experience.

5. Axis Bank

Type : Private

Market Cap (Rs Lakh Crore): 3.09

CEO: Amitabh Chaudhry

Uday Kotak, who had been the MD and CEO of Kotak Mahindra Bank Ltd. for 21 years, has stepped down. His successor is yet to be determined, and the RBI has reportedly rallied for an outsider to succeed him.

4. Kotak Mahindra

Type : Private

Market Cap (Rs Lakh Crore): 3.47

CEO: Dipak Gupta (interim)

SBI is the biggest public sector bank in India, with its main office located in Mumbai. With over 233 overseas branches spread across 36 countries, it has a significant international presence in addition to its 22,405 branches in India.

3. State Bank of India

Type : Public

Market Cap (Rs Lakh Crore): 5.13

CEO: Kameshwar Rao Kodavanti

2. ICICI Bank

Type : Private

Market Cap (Rs Lakh Crore): 6.65

CEO: Sandeep Bakhshi

Based on market capitalization, HDFC Bank ranks fourth globally and is the biggest bank in India. It is a well-known entity in the financial sector and is one of the top private banks in India.

1. HDFC Bank

Type : Private

Market Cap (Rs Lakh Crore): 11.61

CEO: Sashidhar Jagdishan

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