A question that people interested in the banking sector want to know the most. Which is the largest commercial bank in India? Which is the largest commercial bank of India? Perhaps this question may not be necessary for many people, but it is very important for those who are preparing for bank jobs or those who want to join the biggest commercial bank.
What is commercial bank? People also need the answer to this question because till now we common people go to the bank and open the account. So that is a normal account. In such a situation, one word commercial, in this way, who open an account in a bank and what is the difference between normal and commercial bank? The answer to all such questions will be found from here
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What is Commercial Bank?
It is a financial institute that accepts deposits, offers loans, offers individual and commercial bank accounts. There are many such banks in the country which come in commercial banking. They are mainly used by small businesses so that they can do transactions easily.
Such banks are very important for the economy of any country. It helps in maintaining capital, credit and liquidity in the market. All the small and medium businesses of the country are associated with some or the other commercial bank.
In simple language, this is such a banking service that has been made for business, whatever people do small or big business. They all use it because some facilities here are completely different from those found in normal banking.
For example,
- Fast payment processing is done.
- There is no limit on Money Transfer.
- Dedicated support is given to the business Credit is available for business loan and other work.
- The account is in the name of the business.
- In such a situation, they are used for work like business tax, GST.
Commercial Vs Cooperative Bank
These are both banks and accounts are opened in both but there is a difference between these commercial and cooperative banks. About which all those people who have interest in this sector should be aware. Here are some important points regarding the difference between the two.
- Commercial bank provides its service to any individual, trade and business.
- Cooperative Bank offers service to its service farmer, common man, and small business.
- There are very few limits on service in commercial banks. Due to which the customers get a lot of benefits and can do big transactions during the day with great ease.
- Very limited services are available in Cooperative Bank which is right for an individual.
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Which is the largest commercial bank of India?
This is a very big question which is the largest commercial bank in India? And there are many posts about this too. But still it is not decided among the people who is the largest commercial bank in India? Perhaps this question has been asked in some exam, only then people are very curious about this question.
Students who are preparing for bank jobs, they need to know the answer to this question, who is India’s Biggest Commercial Bank? With this, if we talk about how many such banks are there. We have been informed long ago that how many government and private banks are there in India. But here you will find information.
It is written in many places that SBI (State Bank of India) is considered to be the largest commercial bank and there are some such portals as well. According to which HDFC is the largest commercial bank in India. But the answer to the question that was asked is SBI. According to a question given on Byus, State Bank is the largest commercial bank in India.
Here we are sharing the list of top 5 commercial banks. Whose market size you can find out from the internet. Because this list is not fixed as the customers increase in the bank. Their list keeps going up or down, so you can assume this is a temporary list.
Top 5 largest Commercial Banks In India
- State Bank of India (SBI)
- HDFC
- ICICI Bank
- Kotak Mahindra Bank
- Axis Bank
SBI
It is most popular in corporate banking and has been placed at the top of the largest commercial bank list. It is one of the oldest and most trusted banking service in India. The name SBI only offers commercial service, but they have many services that offer banking and financial services.
SBI offers solutions like credit card, debit card, savings account, current account and loans to its customers. If seen, it has the highest number of customers in India.
HDFC
The full form of HDFC is Housing Development Finance Corporation and it is the largest private sector bank in India. Most of the people who work, do business, like HDFC. Its services and solutions are very much liked by the people, so it is at number two in the list of Biggest Commercial Banks.
ICICI
It is the second largest private sector bank in the country, which offers individual and commercial services. Started in June 1994, ICICI offers a host of services such as commercial loans, credit cards, business accounts and many more.
Kotak Mahindra
Kotak Mahindra Bank is a very fast growing bank and it is included in the list of largest commercial bank. Kotak Mahindra has been placed at the 4th position and this is because a lot of small businesses in the country use it. Not only for its business and services but its many banking services are the best.
Axis Bank
Axis was earlier named as UTI Bank but later changed and is also known for its premium services. Not only Axis India, it has opened its branches at 11 international places. It is included at number 5 in the list of commercial banks. All types of solutions are available here such as credit, debit, loan and other solutions for business.
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