After SBI, which is the second-largest Public Sector Bank in India?
Show Hint
- Indian Overseas Bank (IOB)
- Central Bank of India (CBI)
- Punjab National Bank (PNB)
- Union Bank of India (UBI)
The Correct Option is D
Solution and Explanation
This question tests general knowledge about the Indian banking sector, specifically the ranking of Public Sector Banks (PSBs) by size.
Step 2: Ranking of Public Sector Banks:
The ranking of PSBs in India is typically based on total assets, business size (deposits + advances), or market capitalization.
The State Bank of India (SBI) is the largest public sector bank in India by a significant margin.
Among the remaining PSBs, the second-largest is a matter of ongoing consolidation and changes.
Following the merger of various banks, the ranking has changed in recent years.
After SBI, the second-largest public sector bank is Union Bank of India (UBI).
UBI became the second-largest after the merger of Andhra Bank and Corporation Bank into UBI in 2020.
Step 3: Evaluating Other Options:
• (A) Indian Overseas Bank (IOB): This is a significant PSB but not the second-largest.
• (B) Central Bank of India (CBI): This is another important PSB but not the second-largest.
• (C) Punjab National Bank (PNB): PNB was once the second-largest, but after recent mergers, UBI has taken that position.
• (D) Union Bank of India (UBI): This is the correct answer as of the current banking landscape.
Step 4: Final Answer:
After SBI, Union Bank of India (UBI) is the second-largest public sector bank in India. Therefore, option (D) is correct.
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