The State Bank of India (SBI) is generally considered the #1 bank in India due to its massive size, asset base (over $800 billion), largest customer base, and extensive branch network, being the biggest public sector bank. However, HDFC Bank is the largest private sector bank and leads in market capitalization, making it a top contender, especially in private banking, notes Physics Wallah and EnKash.
Wrap Up: SBI dominates in terms of sheer size, asset base, and customer reach, particularly in the hinterlands, underpinned by its government backing. HDFC Bank, while smaller in comparison, holds a strong market position through its efficiency, higher market capitalisation, and focus on profitable segments.
RBI Names SBI, HDFC Bank and ICICI Bank as India's Safest Banks. The Reserve Bank of India has reaffirmed State Bank of India, HDFC Bank and ICICI Bank as the country's most systemically important lenders.
New India Cooperative Bank in trouble; RBI restricts its operations.
Seven of the 33 banks with more than $100 billion in assets are above the threshold. The Bank of New York Mellon has a 100% ratio of uninsured deposits, followed by State Street Bank, 92.6%; Northern Trust, 73.9%; Citibank, 72.5%; HSBC Bank, 69.8%; J.P Morgan Chase, 51.7% and U.S. Bank, 50.4%.
Unity Small Finance Bank offers attractive Fixed Deposit (FD) rates, ranging from 4.50% to 9.50% for the general public and 4.50% to 9.50% for senior citizens, depending on the tenure. These rates apply to FDs maturing in 7 days to 10 years.
Yes, SBI is a good bank for NRI accounts.
State Bank of India has been awarded Best Consumer Bank 2025 — marking a historic first for an Indian bank on the global stage. With over 520 million customers, and 65,000 new customers every day, SBI continues to demonstrate the unmatched trust that India places in its national bank.
Top banks in India
RBI has declared SBI, HDFC, and ICICI as the safest banks. These banks have the status of D-SIB, meaning 'Systemically Important' banks. Due to their significant impact on the country's economy, their failure is considered impossible. CET1 capital allows these banks to maintain stability even during crises.
Large cash withdrawals (of $10,000 or more) require reporting to the IRS and may necessitate advance notice to your bank due to limited cash on hand. Safer alternatives to withdrawing large sums of cash include using credit cards, cashier's checks, or electronic money transfers.
Reserve Bank of India has barred Paytm Payment Bank from onboarding new customers and accepting deposits or top-ups in any customer account, prepaid instruments, wallets, FASTags and NCMC card.
Deutsche Bank to exit India's retail banking: A shift towards localisation.
1. HDFC Bank's Imperia. HDFC Bank offers a suite of premium banking offerings which includes relationship management wealth management and investment privileges, preferential pricing on loans, complimentary family lockers, and much more.
Started as a universal bank on August 23, 2015, Bandhan Bank is one of India's fastest- growing private sector banks. Bandhan Bank has always been committed to financial inclusion and aims to serve the underserved.
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