Top 10 Government Banks in India (2026)
Government banks still carry a different kind of trust in India. They are the first choice for salaries, savings, pensions, and long-term financial comfort. But banking habits are changing fast. With 12 public sector banks in the country and digital payments projected to reach 65% by 2026, it is no longer only about trust. So, which government banks are actually leading in scale, reach, relevance, services, and customer support?
Let us discuss the top government banks in India in detail!
Top 10 Public Sector Banks in India (2026)
The top 10 government banks in India, based on market capitalisation, are SBI, Bank of Baroda, Union Bank of India, Punjab National Bank, Canara Bank, Indian Bank, Bank of India, Indian Overseas Bank, Bank of Maharashtra, and UCO Bank.
| Rank | Bank | Market Cap (₹ Lakh Cr.) | Total Assets (₹ Lakh Cr.) | Total Revenue (₹ Cr.) |
| 1 | SBI | 10.08999 | 73.13730 | 4,90,938 |
| 2 | Bank of Baroda | 1.40739 | 18.61766 | 1,27,945 |
| 3 | Union Bank of India | 1.34275 | 15.87503 | 1,08,417 |
| 4 | Punjab National Bank | 1.28951 | 18.57544 | 1,24,010 |
| 5 | Canara Bank | 1.26037 | 17.30691 | 1,21,601 |
| 6 | Indian Bank | 1.22715 | 8.77039 | 62,039 |
| 7 | Bank of India | 0.67311 | 10.56425 | 71,308 |
| 8 | Indian Overseas Bank | 0.67225 | 4.31883 | 28,144 |
| 9 | Bank of Maharashtra | 0.58679 | 4.27471 | 24,948 |
| 10 | UCO Bank | 0.33054 | 3.62361 | 25,067 |
Disclaimer: The above statistics (Market cap, total assets, and revenue) are sourced from Screener.in and are accurate as of April, 24, 2026. Total assets and total revenue are based on the latest annual figures available on the respective Screener company pages, which are mostly from Mar 2025.
If you are still weighing your options, check out the list of top private banks in India
Here is the detailed information on the top 10 government banks in India:
1. State Bank of India (SBI)
SBI is the largest government bank in India by market capitalisation in the country. It continues to lead the PSU banking space on scale, reach, and overall balance-sheet size.
Established Year: 1955
Key Figures and Stats (as of April 2026):
- Total ATMs: 63,580
- Total Branches: 23,265
- Total Customers: 52 crore+
- Total Employees: 230,000–250,000
Founder: The State Bank of India was created through the nationalisation of the Imperial Bank of India under the State Bank of India Act, 1955.
Banking Services Offered:
- Personal banking
- Home, auto, gold, and other retail loans
- Government business services
- NRI banking
- Internet and mobile banking
- Investments and wealth services
- Corporate and SME banking
- YONO digital banking platform
2. Bank of Baroda
Bank of Baroda is one of India’s biggest public sector banks and ranks second in this list by market capitalisation. It remains a major PSU bank with a large domestic network and an international presence.
Established Year: 1908
Key Figures and Stats (as of April 2026):
- Total ATMs: 11,000+
- Total Branches: 8,648
- Total Customers: 15.3 crore
- Total Employees: 74,000 to 75,000
Founder: Maharaja Sayajirao Gaekwad III of Baroda founded the Bank of Baroda in 1908.
Banking Services Offered:
- Savings and current accounts
- Fixed and recurring deposits
- Credit, debit, prepaid, business, and travel cards
- Home, car, education, and personal loans
- Insurance
- MSME and corporate banking
- NRI banking
- Net banking and Bob World digital banking
3. Union Bank of India
Union Bank of India is one of the leading public sector banks in India and ranks among the top government banks by market capitalisation. It has built a strong presence across retail, corporate, and digital banking over the years.
Established Year: 1919
Key Figures and Stats (as of April 2026):
- Total ATMs: 8,656+
- Total Branches: 8,697+
- Total Customers: 12 crore
- Total Employees: 73,885 – 73,945
Founder: Seth Sitaram Poddar is recognised as the founder of the Union Bank of India
Banking Services Offered:
- Personal banking
- Corporate banking
- NRI banking
- Accounts and deposits
- Retail, MSME, and gold loans
- Internet and digital banking services
4. Punjab National Bank (PNB)
Punjab National Bank is one of India’s oldest and most recognised public sector banks. It remains a major government bank with a strong legacy and a wide national presence.
Established Year: 1894
Key Figures and Stats (as of April 2026):
- Total ATMs: 12,034
- Total Branches: 10,168
- Total Customers: 18 crore+
- Total Employees: 1.02 lakh+
Founder: PNB’s heritage records credit Indian nationalists and visionaries, including Lala Lajpat Rai, E. C. Jessawala, Babu Kali Prasono Roy, Lala Harkishan Lal, and Sardar Dyal Singh Majithia.
Banking Services Offered:
- Personal banking
- Corporate banking
- NRI banking
- Deposits and loans
- Corporate internet banking
- Trade finance and digital banking services
5. Canara Bank
Canara Bank is one of the biggest public sector banks in India and remains a well-established name in government banking. It is known for its long history and strong presence across core banking services.
Established Year: 1906
Key Figures and Stats (as of April 2026):
- Total ATMs: 7,000
- Total Branches: 10,000+
- Total Customers: 11.76 crore+
- Total Employees: 81,260+
Founder: Shri Ammembal Subba Rao Pai
Banking Services Offered:
- Savings accounts and deposits
- Loans
- Net banking
- Mobile banking
- Digital banking products
- NRI banking and remittance services
For readers comparing banks for business use, understanding GSTIN can make the process easier.
6. Indian Bank
Indian Bank is one of the leading public sector banks in India and has maintained a strong place in the government banking landscape for decades. It is widely recognised as a stable and established PSU banking name.
Established Year: 1907
Key Figures and Stats (as of April 2026):
- Total ATMs: 3,096 – 4,929
- Total Branches: 5,800 to 5,900+
- Total Customers: 14.1 crore
- Total Employees: 40,000–42,000
Founder: S. Rm. M. Ramaswami Chettiar
Banking Services Offered:
- Savings accounts
- Deposits
- Online loans
- Video-based account opening
- Prepaid cards
- Locker and self-service banking facilities
7. Bank of India
Bank of India is one of India’s long-established public sector banks and continues to hold a strong place in the government banking sector. It remains a recognised PSU bank with a long institutional legacy.
Established Year: 1906
Key Figures and Stats (as of April 2026):
- Total ATMs: 8,003
- Total Branches: 5300+
- Total Customers: 9 crore
- Total Employees: 50,564
Founder: A group of prominent Indian businessmen, led by Sir Sassoon J. David
Banking Services Offered:
- Personal banking
- Business banking
- Credit and debit cards
- Loans
- Mutual funds
- Insurance
- Mobile and internet banking
- NRI banking support
8. Indian Overseas Bank (IOB)
Indian Overseas Bank is a well-known public sector bank with a long history in Indian banking. It continues to stand out as a legacy government bank with a distinct identity in the PSU space.
Established Year: 1937
Key Figures and Stats (as of April 2026):
- Total ATMs: 3,567
- Total Branches: 3,494
- Total Customers: 4.1 crore
- Total Employees: 20,966
Founder: Shri M. Ct. M. Chidambaram Chettyar
Banking Services Offered:
- Savings and current accounts
- Fixed deposits
- Home loans
- Personal loans
- Education loans
- Vehicle loans
- Corporate and MSME loans
- Insurance, investment, and forex services
- Government schemes such as NPS and Sovereign Gold Bonds
9. Bank of Maharashtra
Bank of Maharashtra is one of India’s established public sector banks and has built a strong reputation over the years, especially in western India. It continues to hold an important place in the government banking space, driven by steady growth and regional strength.
Established Year: 1935
Key Figures and Stats (as of April 2026):
- Total ATMs: 2,300+
- Total Branches: 2,641
- Total Customers: 3.04 Crore – 3.5 Crore
- Total Employees: 14,591+
Founder: Prof. V. G. Kale and D. K. Sathe
Banking Services Offered:
- Savings and current accounts
- Fixed and recurring deposits
- Home, vehicle, education, and personal loans
- MSME and agriculture banking
- Internet and mobile banking
- Debit and credit card services
10. UCO Bank
UCO Bank is one of India’s long-standing public sector banks and remains a recognised name in the government banking sector. Its long legacy and continued public-sector presence keep it among the notable PSU banks in the country.
Established Year: 1943
Key Figures and Stats (as of April 2026):
- Total ATMs: 2,500
- Total Branches: 3,322
- Total Customers: 3.5 crore
- Total Employees: 21,266
Founder: Ghanshyam Das Birla
Banking Services Offered:
- Savings and current accounts
- Fixed and recurring deposits
- Retail and business loans
- Agriculture and MSME banking
- Internet and mobile banking
- NRI and forex services
End Note
Choosing a government bank is not just about going with the most familiar name. It is about knowing which banks lead the sector and then judging them by what you need most, whether that is branch access, digital ease, product range, or long-term comfort. This ranking helps narrow that search and makes the comparison easier.
If your banking needs also involve overseas income, the difference between NRE and NRO accounts can make the choice easier.
Disclaimer– The rankings and figures in this article have been compiled from multiple verified reports, credible news sources, and public financial data available as of 2026.
All values are approximate and may vary with newer updates, revisions, or changes in official records.
Government banks in India – FAQs
Based on market capitalisation as of April 24, 2026, from screener.in, the top 10 government banks in India are SBI, Bank of Baroda, Union Bank of India, Punjab National Bank, Canara Bank, Indian Bank, Bank of India, Indian Overseas Bank, Bank of Maharashtra, and UCO Bank.
State Bank of India (SBI) is the largest government bank in India by market capitalisation in the Screener public sector bank list as of April 24, 2026.
As of April 2026, there are 12 public sector banks (PSBs) in India. These are banks where the Government of India holds a majority stake (at least 51%).
According to the market cap ranking as of April 24, 2026, on screener.in, the top 3 government banks in India by market capitalisation are SBI, Bank of Baroda, and Union Bank of India.
Government banks are considered safer than private banks due to implicit government backing, which creates a perception of lower risk and higher trust. However, both public and private banks are strictly regulated by the RBI, and deposits up to ₹5 lakh are insured, providing similar levels of safety.
According to the market cap ranking as of April 24, 2026, on screener.in, SBI is India’s No. 1 government bank.
A government bank, also called a public sector bank, is majority-owned by the government, while a private bank is primarily owned by private shareholders. In India, IBEF lists 12 public sector banks and 21 private sector banks.
