How Indian banks are grouped on the RBI schedule
A list of banks in India that carries official weight is the Reserve Bank of India’s schedule of commercial banks, which splits them into six groups: public sector banks, domestic private banks, small finance banks, payments banks, regional rural banks and foreign banks. The RBI revises the schedule from time to time, so check it for the latest position.
The counts on that schedule are 12 public sector banks, 21 private sector banks, 11 small finance banks, 4 payments banks, 28 regional rural banks and 44 foreign banks. Added together they come to 120 scheduled commercial banks. Banks can merge, change names or enter the list, so treat the names below as the schedule’s grouping and not as a permanent register.
Each group does a different job. Public sector banks are the large government-owned lenders with the widest branch networks. Private banks compete mainly in cities. Small finance banks serve households and small businesses with modest balances. Payments banks take deposits and handle payments but do not lend. Rural banks serve villages, and foreign banks operate through branches serving corporates and wealthy individuals.
One feature is common to all of them: they work on interest under the Banking Regulation Act, 1949. India has no licensed Islamic bank, so a reader seeking interest-free services will find them only in small co-operative societies and not in this list.
Public sector banks: the twelve government-owned lenders
The public sector group, which the RBI labels State Bank of India and nationalised banks, has twelve names. They are owned by the government, and they form the oldest and largest group on the schedule.
- State Bank of India
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Indian Bank
- Indian Overseas Bank
- Punjab & Sind Bank
- Punjab National Bank
- UCO Bank
- Union Bank of India
State Bank of India is the single largest name on the list and sits in the group beside eleven nationalised banks. The count of twelve is the figure the RBI itself shows, so a reader who remembers a longer list from earlier years should rely on the current schedule instead.
Domestic private banks: twenty-one names
The private group on the RBI schedule also has a surprise for some readers: IDBI Bank is shown among the private sector names, even though many people still think of it as a government bank. The schedule is the guide to follow here.
- Axis Bank
- Bandhan Bank
- CSB Bank
- City Union Bank
- DCB Bank
- Dhanlaxmi Bank
- Federal Bank
- HDFC Bank
- ICICI Bank
- IndusInd Bank
- IDFC FIRST Bank
- Jammu & Kashmir Bank
- Karnataka Bank
- Karur Vysya Bank
- Kotak Mahindra Bank
- Nainital Bank
- RBL Bank
- South Indian Bank
- Tamilnad Mercantile Bank
- YES Bank
- IDBI Bank
Branch coverage differs a great deal from one name to the next, and the schedule does not show it. Before opening an account, check the bank’s own branch locator for your town, and ask how much of the service can be used online.
Small finance banks and payments banks
Eleven small finance banks appear on the schedule: AU Small Finance Bank, Capital Small Finance Bank, Equitas Small Finance Bank, ESAF Small Finance Bank, Suryoday Small Finance Bank, Ujjivan Small Finance Bank, Utkarsh Small Finance Bank, slice Small Finance Bank, Jana Small Finance Bank, Shivalik Small Finance Bank and Unity Small Finance Bank. The word small refers to the licence category, not necessarily to the size of the balance sheet, so check each bank’s own product list.
Four payments banks are listed: India Post Payments Bank, Fino Payments Bank, Airtel Payments Bank and NSDL Payments Bank. A payments bank accepts deposits and provides payment services, but it cannot give loans, so it will not replace a loan provider for a business owner or a borrower.
The difference matters when you choose where to put savings. A small finance bank can offer both accounts and loans, while a payments bank is closer to a digital wallet with a bank licence behind it. Check the product page of any bank for the limits that apply to its accounts.
Regional rural banks after the 2025 merger
Regional rural banks are the smallest-footprint group in terms of geography but important in villages. The RBI schedule shows 28 of them. The one-state-one-regional-rural-bank amalgamation took effect on 1 May 2025, reducing the number from 43 to 28, with banks working in 26 states and 2 Union Territories.
Their names change with mergers, so to find the one serving your district, ask at a local branch or check the RBI schedule, and use the full legal name when you open an account or write to the bank.
Local area banks and urban co-operative banks are not on this schedule and come under different rules. A reader looking for one of those should confirm its status separately with the RBI or the state Registrar.
Foreign banks operating in India
The RBI schedule shows 44 foreign banks. Among them are AB Bank, American Express, ANZ, Barclays, Bank of America, Bank of Bahrain and Kuwait, Bank of Ceylon, Bank of China, Bank of Nova Scotia, BNP Paribas, Citibank, Rabobank, Credit Agricole CIB, CTBC, DBS Bank India, Deutsche Bank, Doha Bank, Emirates NBD, First Abu Dhabi Bank and FirstRand.
The same schedule also includes HSBC, ICBC, Industrial Bank of Korea, J.P. Morgan Chase, VTB, KEB Hana, Kookmin, Mashreqbank, Mizuho, MUFG, NatWest Markets, NongHyup, Maybank Indonesia, Qatar National Bank, Sberbank, SBM Bank (India), Shinhan, Societe Generale, Sonali Bank, Standard Chartered, SMBC, UOB, UBS AG and Woori. The remaining entries among the 44 appear on the RBI schedule itself, so check it for the complete set.
Most foreign banks work from a few metros and focus on companies, trade finance and treasury. A retail customer should not expect a branch in every city. Several of the names are Gulf institutions, including Emirates NBD, Mashreqbank, Doha Bank and Qatar National Bank, but what each one offers to individuals has to be asked of the bank itself.
Using the list of banks in India to check a bank before you deposit
Keep the date of any list in mind. A bank added, renamed or merged after the schedule was last revised will not appear in the groups above. When a decision depends on one name, such as a bank you plan to hold a large deposit with, open the RBI page again and confirm that the name is still there and sits in the group you expect. Names also change by rebranding, so match the legal name printed on your passbook or cheque book with the entry on the schedule, not only the brand used in advertising.
Start with need. A salaried person may want a bank with a branch nearby, a farmer a public sector or rural bank, a small trader a small finance bank, and a company with overseas trade a foreign bank. No category is better in every way, and the best match depends on distance, fees and service.
Confirm that the institution is on the RBI schedule before opening an account, and keep deposits within insured limits. Urban co-operative banks sit outside this list, and one example shows why status matters. Amanath Co-operative Bank in Bangalore was placed under RBI directions in June 2024 that bar fresh loans and deposits and cap withdrawals at Rs 60,000 per depositor, and the RBI extended them in September 2026 to 12 December 2026. The RBI stated that this is not a cancellation of the licence, and that deposit insurance covers up to Rs 5 lakh per depositor.
Know your complaint route. Complaints against banks and non-banking finance companies can go to the RBI Integrated Ombudsman Scheme after the bank itself has been approached. For identity checks, banks ask for Aadhaar or another officially valid document, a PAN or Form 60, and sometimes a Central KYC identifier.
Finally, read the fee schedule, minimum balance rules and digital access terms before choosing. A long list is only a starting point; the right bank is the one whose services you can use easily and whose terms you understand in full.