According to the IMF (International Monetary Fund), Nationalisation is a process by which the government takes over private assets and brings them under public ownership. Nationalisation of banks came into existence on July 19, 1969. That day 14 banks were nationalised by the government of India. Most of the nationalised banks in India are also known to ‘Public Sector Banks.’
There are currently 27 Public sector banks in India out of which 19 are Nationalised banks and six are SBI and its associate banks and rest two are IDBI Bank and Bharatiya Mahila Bank. There are total 93 Commercial Banks in India.
Here is the List of Public and Private Sector Banks in India–
| Sr. No. | Nationalised Banks In India | Headquarter | Estb. Year |
| 1. | Allahabad Bank | Kolkata | 24 April 14 |
| 2. | Andhra Bank | Hyderabad | 20 November 23 |
| 3. | Bank of Baroda | Vadodara | 20 July -08 |
| 4. | Bank of India | Mumbai | 07 September 06 |
| 5. | Bank of Maharashtra | Pune | 1935 |
| 6. | Canara Bank | Bangalore | 01 July 06 |
| 7. | Central Bank of India | Mumbai | 21 December 11 |
| 8. | Corporation Bank | Mangalore | 12 March 1906 |
| 9. | Dena Bank | Mumbai | 1938 |
| 10. | Indian Bank | Chennai | 15 August 07 |
| 11. | Indian Overseas Bank | Chennai | 10 February 37 |
| 12. | Oriental Bank of Commerce | New Delhi | 19 February 43 |
| 13. | Punjab National Bank | New Delhi | 19 April 1894 |
| 14. | Syndicate Bank | Manipal | 1925 |
| 15. | Union Bank of India | Mumbai | 11 November 19 |
| 16. | United Bank of India | Kolkata | 1950 |
| 17. | Punjab & Sind Bank | New Delhi | 24 June 08 |
| 18. | UCO Bank | Kolkata | 6 January 1943 |
| 19. | Vijaya Bank | Bangalore | 1931 |
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