Net Banking

The advancements in technology just keep on coming up. These technological advancements have certainly made a strong impact on the banking sector. The result has been the evolution of net banking, which merges banking services with internet technology.

Our aim is to assist individuals with net banking information pertaining to various banks operating in India. The net banking information has been presented here in a very clear, unambiguous, and precise manner. Considerable efforts have been made by us to ensure the authenticity and reliability of the information provided here. We are certain that this information will benefit you in efficiently carrying out your net banking operations.

Nationalized Banks

Some banks in India previously belonged to the private sector but were transferred to the public sector due to nationalization. Such banks are known as Nationalized Banks.

The Government of India took a decision of gargantuan magnitude in 2019. According to this decision, 10 Public Sector Banks were to be merged into 4. This merger became effective from April 1, 2020, when the integration of the balance sheets and stocks of the 10 banks took place. As per the scheme of amalgamation, Punjab National Bank (PNB), Oriental Bank of Commerce, and United Bank were combined into one with PNB acting as the anchor bank. In another arrangement, the Canara Bank took over the Syndicate Bank. Furthermore, amalgamation happened between the Union Bank of India, Andhra Bank, and Corporation Bank with the Union Bank of India as the anchor bank. Finally, Indian Bank subsumed the Allahabad Bank.

We offer net banking information for the various Nationalized Banks including Punjab National Bank (PNB), Canara Bank, Union Bank of India, Indian Bank, Central Bank of India, Indian Overseas Bank, State Bank of India, Bank of Baroda, and Punjab & Sind Bank.

Regional Rural Banks

Regional Rural Banks (RRB) are simply commercial banks that operate in various states of India at the regional level. Furthermore, they provide banking and financial services in rural areas.

RRBs are currently undergoing a process of amalgamation. An amalgamation of 25 RRBs into 10 took place in January 2013. The count of RRBs was at 56 as of March 2015. The number of RRBs as of 31 March 2016, stayed at 56 covering 525 districts. There were 45 RRBs operating in India as of 4 January 2019. A further merger of Regional Rural Banks is on the cards.

Not long ago, the government came up with a plan of amalgamation between the Baroda Uttar Pradesh Grameen Bank, KashiGomtiSamyutGramin Bank, and Purvanchal Bank into the Baroda UP Bank. The government is also considering a major revamp of the Regional Rural Banks for better operational efficiencies. The plan is to bring down the number of operational RRBs from 45 to 35.

Commercial Banks

Commercial Banks exist for the purpose of attaining profit as a business. They provide services like business loans, deposits, and investment products. The classification of these banks takes place into various categories like scheduled banks, non-scheduled banks, public sector banks, private sector banks, and foreign banks.

Foreign Banks

Foreign Banks are those that are incorporated outside the borders of India but have operational branches in the country. You can get net banking information here about major Foreign Banks like Standard Chartered, Citibank, and HSBC.

Private Banks

Private Banks are those whose incorporation does not take place. Furthermore, they are owned by individual or general partner(s). In such banks, the government does not hold the majority of shares or equity. The major Private Sector Banks existing in India are the HDFC Bank, Axis Bank, ICICI Bank, Kotak Mahindra Bank, Induslnd Bank, IDFC First Bank, Bandhan Bank, Dhanlaxmi Bank, City Union Bank, Federal Bank, and Yes Bank.