public sector bank

PSB Full Form – What is the Full form of PSB? 

PSB Full Form – Public Sector Bank or PSB is a nationalised bank which is a part of PSU or Public Sector Undertaking. It is under the administration of the Ministry of Finance and the regulation of RBI or Reserve Bank of India. Also, the Government owns more than 50% of the bank and bank assets. Most of the known and popular banks in India are PSBs. For example – Bank of Baroda, SBI, Canara Bank, IOB, etc. SBI or the State Bank of India is currently the largest PSU on the basis of total assets owned by the Government. SBI is followed by PNB or Punjab National Bank and Bank of Baroda. The officers working in these banks are known as gazetted officers. PSBs were started from 1955 when the Central or Union Government entered the field of finance by nationalising a bank named Imperial Bank of India. The next important event in PSB was when the 3rd Prime Minister of India, Indira Gandhi, nationalised 14 more banks.