Public Sector Banks

Public sector banks are financial institutions that are owned and operated by the government. They play a vital role in the economy by providing services like savings and checking accounts, loans, and investment products to individuals and businesses. These banks aim to promote financial inclusion and support government policies, such as funding for infrastructure and welfare programs. Since they are state-owned, their objective is not just profit but also social responsibility, ensuring that a wider section of the population has access to banking services. Examples include large banks like the State Bank of India and Bank of Baroda.