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IBPS General Awareness | Indian Banking & Financial System [Must Read]

If you are preparing for bank exams, you must know about the Indian banking system & its hierarchy that makes a financial system with better economic condition.

Here we go...

We will start with a Image elaborating the hierarchy of Indian banking system & then we'll discuss each element in detail.

Now we'll discuss each of these starting from the top.

RBI: The Apex body of banking system

RBI: Reserve Bank of India

What is RBI: India's central banking and monetary authority

What are the Key Responsibilities of RBI: RBI regulates loan given by banks & non banking institutes.

History of RBI: RBI was originally a private institute that was owned by the government of India later.

RBI in Indian constitute: RBI was Set up on April 1, 1935 under the Reserve Bank of India Act.

RBI Headquarters: Initially it was in Kolkata, later moved to Mumbai, Maharashtra.

#Suggested Read: RBI Wikipedia

Type Of Banks: Scheduled|Non scheduled

RBI classifies indian banking system in two type of banks.
  • Scheduled bank:  Scheduled banks are listed under the second schedule of the RBI act, 1934.
  • Non Scheduled bank: Non scheduled banks in India are the one that are not under the schedule.Non-scheduled banks are also subject to the statutory cash reserve requirement. But they are not required to keep them with the RBI; they may keep these balances with themselves.
Non-Scheduled banks do not have certain privileges such as free/concessional remittance facilities through the offices of the RBI and its agents and borrowing facilities from the RBI.

Scheduled Banks are further divided in two types:
1. Commercial Bank
2. Co-operative Bank

We will discuss each of these term in detail.

Commercial Bank:

The definition of a commercial bank states it as a financial institute which provides banking services to businesses and consumers through a network of branches. These services include Accepting deposits, offering investment products & more services like providing secured & unsecured loans.

#Suggested Read: Commercial Banks

Public Sector Commercial bank list:

Public sector commercial banks are where a major stake is held by Indian Government.  Generally stake of Indian government is above 50% in these banks.

There are currently 27 public sector banks in India.Which comprise of:
  • 19 nationalized Banks.
  • 6  State bank of India & associate Banks.
  • IDBI Bank. 
  • Bharatiya Mahila Bank.

List Of Indian Nationalized Banks:

Allahabad Bank
Andhra Bank
Bank of Baroda
Bank of India
Bank of Maharashtra
Canara Bank
Central Bank of India
Corporation Bank
Dena Bank
Indian Bank
Indian Overseas Bank
Oriental Bank of Commerce
Punjab & Sind Bank
Punjab National Bank
Syndicate Bank
UCO Bank
Union Bank of India
United Bank of India
Vijaya Bank

List Of SBI & It's Associate Banks:

State Bank of India
State Bank of Patiala
State Bank of Mysore
State Bank of Travancore
State Bank of Bikaner and Jaipur
State Bank of Hyderabad

#Suggested Read: SBI & Associate Banks

List Of Private Sector Banks:

Private sector banks are those in which major stakeholder is some private organisation or group of organisations, not Indian government.

Axis Bank
Bandhan Bank
Catholic Syrian Bank
City Union Bank
Dhanlaxmi Bank
DCB Bank
Federal Bank
UP Agro Corporation Bank
Karnataka Bank
IndusInd Bank
ING Vysya Bank 
Jammu and Kashmir Bank
Karur Vysya Bank
Kotak Mahindra Bank
Lakshmi Vilas Bank
Nainital Bank
RBL Bank
South Indian Bank
Tamilnad Mercantile Bank Limited
Yes Bank

#Suggested Read: List Of Foreign Banks

Foreign Banks In India:

Those banks which are incorporated outside the India & has Operating Branch in India are better known as Foreign banks.

To download Complete list of Foreign Banks in India- Download here

 List Of Regional Rural Bank In India

Andhra Pradesh- List of RRB

Andhra Pradesh Grameena Vikas Bank
Andhra Pragathi Grameena Bank
Chaitanya Godavari Grameena Bank
Deccan Grameena Bank
Saptagiri Grameena Bank

Assam- List of RRB

Assam Gramin Vikash Bank
Langpi Dehangi Rural Bank

Arunachal Pradesh- List of RRB

Arunachal Pradesh Rural Bank

Bihar- List of RRB

Uttar Bihar Gramin Bank
Madhya Bihar Gramin Bank
Bihar Gramin Bank

Chhattisgarh- List of RRB

Chhattisgarh Rajya Gramin Bank

Gujarat- List of RRB

Dena Gujarat Gramin Bank
Baroda Gujarat Gramin Bank
Saurashtra Gramin Bank

Haryana- List of RRB

Sarva Haryana Gramin Bank

Himachal Pradesh- List of RRB

Himachal Pradesh Gramin Bank

Jharkhand- List of RRB

Jharkhand Gramin Bank
Vananchal Gramin Bank

Jammu & Kashmir-- List of RRB

Jammu And Kashmir Grameen Bank

Karnataka-- List of RRB

Kaveri Grameena Bank
Karnataka Vikas Grameena Bank
Pragathi Krishna Gramin Bank

Kerala- List of RRB

Kerala Gramin Bank

Madhya Pradesh- List of RRB

Narmada Jhabua Gramin Bank
Central Madhya Pradesh Gramin Bank
Madhyanchal Gramin Bank

Maharashtra- List of RRB

Maharashtra Gramin Bank
Vidarbha Kokan Gramin Bank

Manipur- List of RRB

Manipur Rural Bank

Meghalaya Rural Bank

Mizoram Rural Bank

Nagaland Rural Bank

Odisha Gramya Bank
Utkal Grameen Bank

Punjab- List of RRB

Punjab Gramin Bank
Malwa Gramin Bank
Sutlej Gramin Bank

Puducherry- List of RRB

Puduvai Bharathiar Grama Bank

Rajasthan- List of RRBs

Baroda Rajasthan Kshetriya Gramin Bank
Marudhara Rajasthan Gramin Bank

Tamil Nadu- List of RRB

Pandyan Grama Bank
Pallavan Grama Bank

Tripura- List of RRBs

Tripura Gramin Bank

Uttar Pradesh- List of RRBs

Prathama Bank
Allahabad UP Gramin Bank
Baroda UP Gramin Bank
Gramin Bank Of Aryavrat
Kashi Gomti Samyukt Gramin Bank

Uttarakhand- List of RRB

Uttarakhand Gramin Bank

West Bengal- List of RRBs

Bangiya Gramin Vikash Bank
Paschim Banga Gramin Bank
Uttarbanga Kshetriya Gramin Bank

#Suggested Read: Regional Rural Bank In India
IBPS General Awareness | Indian Banking & Financial System [Must Read] IBPS General Awareness | Indian Banking & Financial System [Must Read] Reviewed by Admin on 07:40 Rating: 5

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