In 2022, how many public sector banks in India?
12
Number of Public Sector Banks in India in 2022
The question asks about the total number of public sector banks operating in India specifically in the year 2022.
Understanding the banking sector in India involves knowing the different types of banks. Public sector banks are banks where the majority stake is held by the government. Over the years, the number of public sector banks has changed due to mergers and amalgamations initiated by the government to consolidate the banking sector.
As of 2022, following several rounds of mergers, the total count of public sector banks in India stood at a specific number.
Let's consider the options provided:
- 22
- 23
- 12
- 14
- 13
Based on official data available for the year 2022, after major mergers like the consolidation of ten public sector banks into four in 2020, the final count of public sector banks operating in the country became fewer than before.
The precise number of public sector banks in India during 2022 was 12. These included the State Bank of India (SBI) and 11 other nationalised banks.
Therefore, the correct number of public sector banks in India in 2022 is 12.
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