Present Banking System in India

-Indian banking sector is broadly classified into scheduled banks and non-scheduled banks.

-The scheduled banks are those which are included under the 2nd Schedule of the Reserve Bank of India Act, 1934.

-The scheduled banks are further classified into: nationalised banks; State Bank of India and its associates; Regional Rural Banks (RRBs); foreign banks; and other Indian private sector banks.

-The term commercial banks refers to both scheduled and non-scheduled commercial banks which are regulated under the Banking Regulation Act, 1949.

-Scheduled Banks:

--Total Public Sector Banks - 27

1. Nationalised Banks - 19
2. SBI - 1
3. SBI Associates - 5
4. IDBI - 1
5. Bharti Mahila Bank - 1

--Regional Rural Bank - 56

--Indian Private Banks

--Foreign banks - 43

--Cooperative Banks

-Eight private banks were taken over by SBI, known as SBI associates by "SBI Subsidiaries Branch Act 1959". After merger, now it left with 5 banks.

--Associates bank of SBI:

1. State Bank of Bikaner & Jaipur
2. State Bank of Hyderabad
3. State Bank of Mysore
4. State Bank of Patiala
5. State Bank of Travancore