
RBI agency banks are banks that are authorized by the Reserve Bank of India (RBI) to carry out various government-related transactions on behalf of the central and state governments. These transactions may include revenue receipts and payments, pension payments, small savings schemes, collection of stamp duty, and other government-related banking activities.
The RBI designates certain banks as agency banks to ensure the smooth functioning of government transactions and to provide convenient access to banking services for the government and its agencies. These agency banks act as intermediaries between the government and the public, facilitating the flow of funds and providing banking services to government departments and individuals involved in government-related transactions.
List of RBI Agency Banks: Public Sector Banks
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Indian Bank
- Indian Overseas Bank
- Punjab and Sind Bank
- Punjab National Bank
- State Bank of India
- UCO Bank
- Union Bank of India
RBI Agency Banks: Private Banks
- Axis Bank Ltd.
- City Union Bank Ltd.
- DCB Bank Ltd.
- Federal Bank Ltd.
- HDFC Bank Ltd.
- ICICI Bank Ltd.
- IDBI Bank Ltd.
- IDFC FIRST Bank Ltd.
- IndusInd Bank Ltd.
- Jammu and Kashmir Bank Ltd.
- Karnataka Bank Ltd.
- Karur Vysya Bank Ltd.
- Kotak Mahindra Bank Ltd.
- RBL Bank Ltd.
- South Indian Bank Ltd.
- Yes Bank Ltd.
- Dhanlaxmi Bank Ltd.
- Bandhan Bank Ltd.
- CSB Bank Ltd.
- Tamilnad Mercantile Bank Ltd.
RBI Agency Banks: Foreign Banks
- DBS Bank India Limited
These banks will open on March 31 (Sunday) to carry out government business. The notification for the same has been released by RBI on its official website.