India is a country with huge population, which accounts for a large number of players in the banking sector of the country. While public sectors banks are known for their reliability, private banks have carved a niche for themselves because of excellence of services as well as high profitability. Foreign banks, regional rural banks and co operative banks also play a vital role in the economy. Today, people look for a variety of factors, such as high rate of interest on deposits, easy advances, customer service and so on, while choosing a bank out of the numerous options available.
Here is a list of top 10 banks in India 2016:
10. Union Bank of India
One of the biggest banks in the country in 2015 is Union Bank of India, which was set up in 1919 and its present net asset management is worth nearly $ 13.45 billion.
9. IDBI Bank
IDBI Bank, which comes under the category of other public sector bank, came into existence in 1964. At present, the bank manages assets worth $ 42 billion and operates through 1150 branches and 2000 ATMs, which are served by an employee base of 15000 people.
8. Bank of India
Featuring on number 8 in this list is Bank of India, a public sector bank serving the country since 1906. Currently, it is operating through 4187 branches, including 52 overseas branches, and nearly 1700 ATMs.
7. Axis Bank
The next bank to be included in this top 10 list is Axis Bank, a leading private bank which was established in 1994. This bank is acclaimed for excellence in services and has nearly 2225 branches and 12000 ATMs in India and manages assets worth $ 54 billion.
6. Canara Bank
Canara Bank, which was set up back in 1906 by Subba Rao Pai, comes next on this list with net asset management worth $ 61 billion. The bank serves its customers through 3200 branches and 4000 ATMs and has an employee base of 44000 workers.