History of Public Sector Banks in India

[Important for Bank Exam / Interview]

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

IDBI Bank

Oriental Bank of Commerce

Punjab & Sind Bank

Punjab National Bank

State Bank of Bikaner and Jaipur

State Bank of Hyderabad

State Bank of India

State Bank of Mysore

State Bank of Patiala

State Bank of Travancore

Syndicate Bank

UCO Bank

Union Bank of India

United Bank Of India

Vijaya Bank

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History of Indian Overseas Bank (IOB)

Indian Overseas Bank (IOB) was founded on February 10th 1937, by Shri.M.Ct.M. Chidambaram Chettyar. MCt., as he was popularly known, was pioneer in many fields – Banking, Insurance and Industry. IOB was founded with the twin objectives of specializing in foreign exchange business and overseas banking. 

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History of Syndicate Bank

Syndicate Bank established in the year 1925,  had its first office in the coastal region of Karnataka, Udupi. It was then named as 'Canara Industrial & Banking Syndicate Ltd'. The bank was initiated by a trio - Sri Upendra Ananth Pai, a businessman, Sri Vaman Kudva, an engineer and Dr.T M A Pai, a physician, with a capital of Rs. 8000. During that time, the crisis in the handloom industry crippled the local weavers completely. The main aim of Syndicate Bank was to provide financial assistance to them, by mobilizing small savings from the community.

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History of Punjab & Sind Bank

Punjab & Sind Bank is a government-owned bank (79.62%), with headquarters in New Delhi. Of its 1466 branches spread throughout India, 623 branches are in Punjab state. Its net profit is Rs. 121.35 crores and net NPA is 3.55% for the year ending 2014-15. The bank's operating profit for the year ending 2014-15 is Rs. 775.45 crores. Total business of the bank was Rs. 1,51,511 crores for the year ending 2014-15 and Business per employee is Rs. 15.95 crore.

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History of Dena Bank

Dena Bank headquartered in Mumbai, is owned by the Government of India, and as per latest data the total branch network stands at 1,773 and plans to open 404 new branches in FY 2015-16.

Dena Bank was founded o­n 26th May, 1938 by the family of Devkaran Nanjee under the name Devkaran Nanjee Banking Company Ltd. It became a Public Ltd. Company in December 1939 and later the name was changed to Dena Bank Ltd.

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History of IDBI Bank

IDBI Bank is today one of India's largest commercial Banks. For over 40 years, IDBI Bank has essayed a key nation-building role, first as the apex Development Financial Institution (DFI) (July 1, 1964 to September 30, 2004) in the realm of industry and thereafter as a full-service commercial Bank (October 1, 2004 onwards).

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History of Indian Bank

Indian Bank was started in the year 1907 and commenced banking operations on August 15, 1907.In the aftermath of the crash of the Arbuthnot Bank, several things happened. Sir Arthur Lawley, Governor of Madras and himself a victim of the bankrupt company, launched a public fund to raise money to help the weaker sections who had lost everything in Arbuthnot’s. Amongst the scores of letters in The Hindu on the scandal, there was one from Dewan Bahadur R. Raghunatha Rao, a distinguished administrator and a prominent citizen, that suggested the starting of an Indian bank “now that European integrity and honesty (have come) under a cloud.”

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History of State Bank of Hyderabad

A subsidiary of State Bank of India, State Bank of Hyderabad was established as Hyderabad State Bank on 8 August 1941. The Bank started its operations with the distinction of being the central bank of the princely state of Hyderabad, covering the present-day Telangana region of Andhra Pradesh, Hyderabad-Karnataka of Karnataka and Marathwada of Maharashtra, when it was established. Apart from functioning as a commercial bank, it managed Osmania Sikka (the currency of Hyderabad in those days) and managed public debt as well. The first branch of the Bank was established at Gunfoundry, Hyderabad on 5 April 1942. 

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