There are lots of banks in India that cater to the financial needs of the customers. Also, the list of banks in India can be categorized as the private sector, public sector, and foreign banks.
There is a huge raise in the number of banks as the range of financial needs and activities in economical India has increased. Indian Overseas Bank is one of the main banks in the public sector list of banks in India.
Public sector banks are banks in which the government holds a share of more than fifty percent. The public sector or nationalized banks in India are always reliable and they offer a lot of personalized and specific services. Customers can make money anytime because of the 24 hours bank operated ATM in India.
Public sector Indian banks are controlled and operated by the Government of India and hence the customers can rest assured about the safety of their money invested in the bank. Public sector banks list in India supports a vast number of processes that act as a key factor of India’s liquidity through the banking sector. The disadvantage of these banks is that they are not as modern as the private banks and they are slowly getting on par with the private banks in internet banking and other facilities.