What is bank and its functions in India

The bank is a financial institution witch performs  various Operations like Cash Deposit and Cash lending to the Customers. Banks lends money to there customers who need money and earn Interest on it . Major Sorce of income of  the bank is Interest.

Some banks also provide Credit card and earn Interest on EMI

Type of bank in India

There are two types of bank in India by sector .

  1. Public sector bank (Government Owned) : Public sector banks are major type of bank in India. The shares of these banks are listed on stock exchanges and most importantly more than 50% of shares are held by Government of India. Presently there are 12 Public sector banks in India.
    For Example : State bank of India , Punjab National Bank
  2. Private Sector : Private Sector banks are run by any individual Or any Private Intuitions and majority of shares held by them.
    For Example : HDFC Bank , ICICI Bank

All India financial institutions regulated by rbi, for instance Banks , NBFI (non banking financial institutions)

what is bank

Services Offered by Bank In India

Services Offered by banks in India

  1. Individual Banking (checking accounts, savings accounts, debit/credit cards, etc.)
  2. Business Banking (merchant services, checking accounts and savings accounts for businesses, treasury services, etc.)
  3. Loans (business loans, personal loans, home loans, automobile loans, working-capital loans, etc.)

List of public sector Banks in India 2021

As Per department of financial services there are 12 public sector banks in India. The list of those public sector banks is as follows after merger.

  1. Bank of India
  2. Bank of Baroda
  3. Bank of Maharashtra
  4. Canara Bank
  5. Central Bank of India
  6. Indian Bank
  7. Indian Overseas Bank
  8. Punjab & Sindh Bank
  9. Punjab National Bank
  10. State Bank of India
  11. Union Bank of India
  12. UCO Bank

List of public sector Banks in India 2021

Bank of India

Head Office Address : Star House, C-5, G-Block, Bandra Kurla Complex, Bandra (East), Mumbai-400 051

Toll free: 1800 220 229, 1800 103 1906

Official Website: bankofindia.co.in

Bank of Baroda

Central Office Address : P.O. Box No. 10046, 9th Floor, Baroda Corporate Centre, Bandra Kurla Complex, Bandra (East), Mumbai-400 051.

Toll Free: 1800 258 44 55, 1800 102 44 55

Official Website: bankofbaroda.com

Bank of Maharashtra

Head Office  address : , Lokmangal, 1501, Shivaji Nagar, Pune-411 005.

Toll Free: 1800 233 4526, 1800 102 2636
Official Website: bankofmaharashtra.in

Canara Bank

Head Office:  112, J.C. Road, P.B. No. 6648, Bangalore-560 002.

Toll Free: 1800 425 0018

Official Website: canarabank.com

Central Bank of India

Head Office : Chandramukhi, Nariman Point, Mumbai-400 021.

Toll Free Number: 1800 22 1911

Official Website: centralbankofindia.co.in

Indian Bank

Head Office : 31, Rajaji Road, Chennai-600 001

Toll Free Number: 1800 425 00 000, 1800 425 4422

Official Website: indianbank.in

Indian Overseas Bank

Central Office : 763, Anna Salai, P.B. No. 3765, Chennai-600 02.

Toll Free: 18004254445

Official Website: iob.in

Punjab & Sindh Bank

Head Office : Bank House, 21, Rajindra Place, New Delhi-110 008.

Toll Free Number: 1800 419 8300

Official Website: psbindia.com

Punjab National Bank

Head Office : 7, Bhikhaji Cama Place, Africa Avenue, New Delhi-110 066.

Toll Free Number: 1800 180 2222, 1800 103 2222

Official Website: pnbindia.in

State Bank of India

Central Office : State Bank Bhavan, Madam Cama Road, Mumbai-400 021

Toll Free: 1800 11 2211, 1800 425 3800, 080-26599990

Official Website: sbi.co.in

Union Bank of India

Head Office : 239, Vidhan Bhavan Marg, Nariman Point, Mumbai-400 021.

Toll Free number: 1800 22 22 44, 1800 208 2244

Official Website: unionbankofindia.co.in

UCO Bank

Head Office : 10, B.T.M. Sarani, Brabourn Road, Calcutta-700 001.

Toll Free Number :  1800 274 0123

Official Website: ucobank.com

How to Check Indian Overseas Bank balance?

Indian Overseas Bank (IOB) is one of oldest major public sector bank based in Chennai, India, with about 3367+ bank branches all over India. IOB has a network of around 3300+ ATMs all over India. Its was was founded on 10th February 1937 by Shri. M. Ct. M. Chidambaram Chettyar .IOB has partnered with SBI General Insurance Co and has signed the Corporate Agency Agreement for General Insurance Business.

Indian Overseas Bank provides various methods to check Account Balance to its customers.:

  • Indian Overseas Bank App
  • Net Banking
  • Passbook Update
  • SMS Banking
  • USSD Code

Indian Overseas Bank Missed Call Banking

Indian Overseas Bank provides a free to use service that offers to their customers to just give a missed call from the registered mobile number on a toll-free number 9210622122 and receive their account balance details via SMS. Customers whose mobile numbers are not registered with the bank account can go to the nearest Indian Overseas Bank and get it registered.

Indian Overseas Bank Account Balance Check by SMS

The SMS service offered by Indian Overseas Bank works by registering your mobile number with the account number and send a SMS with the specified keyword to the SMS Banking number 84240 22122. keyword given below for your reference

indian overseas bank balance check

Transaction Tag Description
Balance enquiry BAL <space> last 4 digit Account Number e.g: BAL 1234
Mini Statement MINI <space> last 4 digit Account Number e.g: MINI  1234
Get your MMID MMID

Indian Overseas Bank App

Indian Overseas Bank App is free to use and can be downloaded from the app store. This app does not require any internet connection as it works via SMS or missed call.

Indian Overseas Bank Net Banking

Customers having an internet banking account can not only check the account balance but also explore many other facilities like mini statement, detailed statement, fund transfer and much more. Customers can log in or register at iobnet.co.in to avail the facility.

Check Indian Overseas Bank Balance by ATM

IOB ATM facility provides its customers with free balance check facilities. Customers can also access other Banks ATM to check account balances for free up to a limited number of transactions.

How to Check the Balance?

  1. Insert your ATM card into an ATM- Machines will allow you to check your balance for free.
  2. Type in your PIN on the machine- A four-digit number you should have set up when you opened your account.
  3. Select the option to view your balance- You will be able to go back and make a withdrawal or print that balance.

Indian Overseas Bank USSD Code

Indian Overseas Bank offers a USSD Code Balance check by dialling *99# and pressing the call button. After calling, a screen will appear with options to choose from. Choose the options and press the number in the empty box to enable that service. Balance check is one of the options on the menu.

Minimum Balance Required for Indian Overseas Bank

The minimum balance required for Indian overseas account is different for a different account and it also depends on the geographical location.

For an account with cheque book facility:

  • For Rural and Semi-Urban branches the minimum balance required is Rs.500/-
  • For Urban and Metro areas the minimum balance required is Rs.1000/-

For account without cheque book facility:

  • For Rural and Semi-Urban branches the minimum balance required is Rs.250/-
  • For Urban and Metro areas the minimum balance required is Rs.500/-

For pensioner account the minimum balance for an account with cheque book facility is Rs.250/- and for non-cheque book facility, it is Rs.5/-

The penalty on the non-maintenance of the account is Rs.7 per month for Rural and Semi-Urban, and Rs.14 for Urban and Metros. For Pensioners, the penalty will be the same.

How to Check Allahabad Bank balance by SMS

Many customers of the bank have to use different methods to know their account balance. The various methods used by the customer are ATM cards, passbook updates, which requires you to visit the bank Branch. Allahabad Bank offers different ways which can be used to know the balance of bank account which does not require you to leave the comfort of your home and you can easily find Allahabad bank account details.

Allahabad Bank customers can check Account Balance by following ways.

  • Allahabad Bank Ap
  • SMS
  • Missed Call
  • Net banking

Allahabad Bank mobile banking

Allahabad Bank provides banking services like Balance Check/Payment/Fund Transfer through Mobile Banking. You need to download Allahabad Bank mobile banking application to use services like Balance Check/Payment/Fund Transfer etc. Allahabad Bank application is free and can be downloaded from the app store

Check Allahabad Bank Account Balance by SMS

Allahabad Bank balance check

Allahabad Bank provides SMS service to its customers who have registered a mobile number with the bank account. Customers whose mobile numbers are not registered with the bank account can go to the nearest Allahabad bank branch to register the mobile number

to use SMS services you need to send a SMS from your registered mobile number to 9223150150 in a particular format. Formats are given below for your reference.

Code Description SMS Format
HELP Help on How to Use HELP <Message Code>
CHGPIN Change SMS Banking PIN CHGPIN <New MPIN> <Old MPIN>
BALAVL Balance Inquiry BALAVL <A/c no>
LATRAN Last 5 Transactions LATRAN <A/c no>
STMACC Account Request Statement STMACC <Start date> <End date> <A/c no>
CHQREQ Cheque Book Request CHQREQ <No. of Leaves> <A/c no>
STPPAY Stop Payment STPPAY <Chq no> <A/c no> <PIN>
STPREV Revoke Stop Payment STPREV <Chq no> <A/c no><PIN>
CHQSTS Issued Cheque Status Inquiry CHQSTS <Chq no> <A/c no>

Allahabad Bank Missed Call Banking

Allahabad Bank provides a free to use service that offers their customers. you only need to give a missed call to the toll-free number 9224150150 and get your account balance details via SMS on your registered mobile number.

Allahabad Bank Net Banking.

Allahabad Bank provides a net banking facility with many other features. You can check Allahabad Bank account balance by login into your internet banking by visiting   Allahabad Bank Net Banking website.

Check Allahabad Bank Balance by ATM

ATM Machines provides balance check facilities which is absolutely  free. You can use it in any bank ATM. All the bank ATM Machines can be used to check the balance.

How to Check the Balance?

  • Insert your ATM card into an ATM- Machines will allow you to check your balance for free.
  • Type in your PIN on the machine- A four-digit number you should have set up when you opened your account.
  • Select the option to view your balance- You will be able to go back and make a withdrawal or print that balance.