The RBI lists 2,150 banks in India (as of July 2018 beginning), categorising them under different heads such as nationalised banks, other public sector banks, private sector Indian and foreign banks, scheduled cooperative banks and so on. The full primary category list is:
- SBI and Associates
- Nationalised Banks
- Other Public Sector Banks
- Private Sector Banks – Indian Banks
- Private Sector Banks – Foreign Banks
- Scheduled State Co-operative Banks
- Non-Scheduled State Co-operative Banks
- Co-operative Banks – Scheduled Urban Cooperative Banks
- Co-operative Banks – Non-Scheduled Urban Cooperative Banks
- Co-operative Banks – State Cooperative Banks
- Co-operative Banks – District Cooperative Banks
- Regional Rural Banks
We look at all top 5 categories of banks, which together add up to 106 banks. Of these, we ignore those banks that have a very small presence, payment banks and those that do not have a size-able retail banking presence in India. The net total of banks we look at then comes to 61.
We look at each of these 61 banks for Children’s Savings Accounts, Education Loans, Consolidation Loans (i.e. loans that you can use to pay off your debt), Business Loans and MSME Loans.
We have categorised our list based on the type of bank, viz. Public Sector Banks (i.e. Nationalised Banks), Private Sector Banks and so on.