Commercial banks

• The Indian Central Banking Committee (1931)
• Agricultural Finance Sub-committee (1945)
• Rural Banking Enquiry Committee (1950)
• All India Rural Credit survey committee (1951)
• All India Rural Debt and Investment Survey (1961-62)
• Informal Group on Institutional Arrangements for Agricultural Credit (1964) 

all these expert committees were of the opinion that co-operatives and not the commercial banks were the suitable credit agencies for agriculture.

• The Imperial Bank of India (IBI) was one of the oldest and the largest commercial bank in India, and was subsequently renamed and nationalized as the State Bank of India in 1955
• The Imperial Bank of India was established in 1921 by the amalgamation of the Presidency Banks (Bank of Bengal, Bank of Bombay and Bank of Madras).
• Until the establishment of the Reserve Bank of India in 1935, the Imperial Bank of India was the sole banker of the government.
• The headquartered of Reserve Bank of India in Mumbai, Maharashtra.
• In 1955, the state Bank of India Act was passed and Imperial Bank India was named as the State Bank of India.

To serve better the credit needs of rural society, fourteen commercial banks with deposits worth Rs.50 crores or more were nationalized on July 19, 1969. In her broadcast address of July 19, 1969 on bank nationalization, Prime Minister Mrs. Indira Gandhi stated that nationalization.

The nationalized banks were:

1. Central Bank of India
2. Bank of India.
3. Punjab National Bank
4. Bank of Baroda.
5. United Commercial bank.
6. Canara Bank.
7. United Bank of India
8. Dena Bank
9. Syndicate Bank.
10. Union Bank of India
11. Allahabad Bank
12. Indian Bank
13. Bank of Maharashtra
14. Indian Overseas Bank

This was followed by nationalization of six more commercial banks in 15 April 1980. They were:

1. New Bank of India.
2. Vijaya Bank.
3. Corporation Bank.
4. Andhra Bank.
5. Punjab and Sind Bank.
6. Oriental Bank of Commerce.

Indian Banks and its Headquarter

Merger Bank

• Several major bank mergers have occurred in recent years, particularly in India. Here are some prominent examples:

• State Bank of India (SBI) and Associate Banks: In 2017, SBI merged with five of its associate banks: State Bank of Bikaner & Jaipur (SBBJ), State Bank of Hyderabad (SBH), State Bank of Mysore (SBM), State Bank of Patiala (SBP), and State Bank of Travancore (SBT). Bharatiya Mahila Bank (BMB) was also merged with SBI in the same year.

• Bank of Baroda, Vijaya Bank, and Dena Bank: In 2019, Bank of Baroda merged with Vijaya Bank and Dena Bank to form a larger consolidated entity.

• Punjab National Bank (PNB), Oriental Bank of Commerce (OBC), and United Bank of India (UBI): making it the second-largest public sector bank in India after SBI.

• Canara Bank and Syndicate Bank: Also in 2020, Canara Bank merged with Syndicate Bank to create a larger banking entity.

• Union Bank of India, Andhra Bank, and Corporation Bank: In 2020, Union Bank of India merged with Andhra Bank and Corporation Bank.

• Indian Bank and Allahabad Bank: In 2020, Indian Bank merged with Allahabad Bank.