The Indian Banks' Association (IBA), formed on (26 September 1946), is an unregistered,

voluntary association A voluntary group or union (also sometimes called a voluntary organization, common-interest association, association, or society) is a group of individuals who enter into an agreement, usually as volunteers, to form a body (or organization) to a ...

of like-minded banks and individuals in India—a representative body of Indian banks and financial institutions based in

Mumbai Mumbai ( ; ), also known as Bombay ( ; its official name until 1995), is the capital city of the Indian state of Maharashtra. Mumbai is the financial capital and the most populous city proper of India with an estimated population of 12 ...

. With an initial membership of 22 banks in India in 1946, IBA currently represents 247 banking companies operating in India. IBA was formed for the development, coordination, and strengthening of Indian banking and to assist the member banks in various ways, including the implementation of new systems and the adoption of standards among the members. Indian Banks' Association is managed by a managing committee, and the current managing committee consists of one chairman, 3 deputy chairmen, 1 honorary secretary and 26 members. On 20 November 2020,

Union Bank of India Union Bank of India (UBI) is an Indian public sector bank headquartered in Mumbai. It has 153+ million customers and a total business of Rs.22,92,644 crores as of 31 March 2025. After the merging with Corporation Bank and Andhra Bank, which c ...

's MD and CEO Rajkiran Rai was elected as the new Chairman of IBA. Dinesh Khara, Chairman of

State Bank of India State Bank of India (SBI) is an Indian Multinational corporation, multinational Public sector undertakings in India, public sector bank and financial service body headquartered in Mumbai. It is the largest bank in India with a 23% market shar ...

; Madhav Nair, Country Head and CEO of

Mashreq Bank Mashreq () is one of the oldest banking institutions in the United Arab Emirates and the Middle East. Established in 1967 as the Bank of Oman Oman, the bank later rebranded as Mashreq and has since expanded its operations across multiple markets. ...

; and S. S. Mallikarjuna Rao, MD and CEO of

Punjab National Bank Punjab National Bank alias PNB is an Public sector banks in India, Indian government bank based in New Delhi. It was founded in May 1894 and is the List of banks in India, second-largest public sector bank in India in terms of its business volum ...

, were elected as deputy chairmen. Rakesh Sharma, MD and CEO of

IDBI Bank The IDBI Bank Limited (IDBI Bank or IDBI) is a Scheduled Commercial Bank under the ownership of Life Insurance Corporation of India (LIC) and Government of India. It was established by Government of India as a wholly owned subsidiary of Re ...

, was elected as the Honorary Secretary for 2020–2021. The Chief Executive of IBA is Sunil Mehta, and chief executive Gopal Bhagat. On 14 October 2021, Managing Committee of IBA elected Shri Goel as Chairman of IBA.

Legal Structure

The Indian Banks' Association (IBA) is an unregistered,

of like-minded banks and individuals. It lacks statutory recognition or legal incorporation. Established on September 26, 1946, initially comprising private banks, it later expanded its membership. Although some banks joined the public sector in 1970, the IBA's operations remained unchanged. Today, its members encompass a diverse range, including Public Sector Banks, Private Sector Banks, Foreign Banks, Urban Co-operative Banks, Asset Reconstruction Companies, Credit Rating Companies, Credit Guarantee Funds, Financial Services Companies, Credit Bureaus, and more.

Managing committee

The banks which are members of the managing committee of the IBA include:

Public Sector Banks

Bank of Baroda Bank of Baroda (BOB or BoB) is an Public sector banks in India, Indian government Public sector bank headquartered in Vadodara, Gujarat. It is the third largest Public sector banks in India, public sector bank in India after State Bank of India ...

Bank of India Bank of India (BoI) is an Indian public sector bank headquartered in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founding member of SWIFT (Society for Worldwide Inter ...

Canara Bank Canara Bank is an Indian public sector bank based in Bangalore, India. Established in 1906 at Mangalore by Ammembal Subba Rao Pai. The bank was nationalized in 1969. Canara Bank also has offices in London, Dubai and New York. History Amm ...

Indian Bank Indian Bank is an Indian public sector bank, established in 1907 and headquartered in Chennai. It serves over 100 million customers with 40,002 employees, 5,901 branches with 5,268 ATMs and Cash deposit machines. Total business of the bank has ...

Indian Overseas Bank Indian Overseas Bank (IOB) is an Indian public sector bank based in Chennai. During the nationalisation, IOB was one of the 14 major banks taken over by the government of India. On 5 December 2021, IOB got Degidhan Award 2020–21 by Ministry ...

Central Bank of India The Central Bank of India (CBI) is an Public sector banks in India, Indian public sector bank based in Mumbai. Despite its name, CBI is not the central bank of India, a role served by the Reserve Bank of India. History The Central Bank of ...

UCO Bank UCO Bank, formerly United Commercial Bank, is an Public sector banks in India, Indian public sector bank, and financial services government owned body headquartered in Kolkata. It is a medium sized Public sector banks in India, public sector ban ...

* Punjab & Sind Bank

Private Sector Banks

* Jammu & Kashmir Bank Limited *

HDFC Bank HDFC Bank Limited is an Indian banking and financial services company, headquartered in Mumbai. It is India's largest private sector bank by assets and market capitalisation. The Reserve Bank of India (RBI) has identified the HDFC Bank, Stat ...

* ICICI BANK LTD * AXIS BANK LTD *

Bank of America The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoA) is an American multinational investment banking, investment bank and financial services holding company headquartered at the Bank of America Corporate Center in ...

Citibank Citibank, N.A. ("N. A." stands for "National bank (United States), National Association"; stylized as citibank) is the primary U.S. banking subsidiary of Citigroup, a financial services multinational corporation, multinational corporation. Ci ...

City Union Bank City Union Bank Limited is an Indian private sector bank headquartered in Kumbakonam, Tamil Nadu. The bank was initially named Kumbakonam Bank Limited, and was incorporated on 31 October 1904. The bank preferred the role of a regional bank in ...

JPMorgan Chase Bank JPMorgan Chase Bank, N.A., Trade name, doing business as Chase, is an American National bank (United States), national bank headquartered in New York City that constitutes the retail banking, consumer and commercial bank, commercial banking su ...

* Federal Bank * Karnataka Bank * Bank of Bahrain & Kuwait *

Qatar National Bank Qatar National Bank (QNB Group) () is a Qatari multinational commercial bank headquartered in Doha, Qatar. It was founded in 1964 and currently has subsidiaries and associates in 31 countries on three continents. The bank's ownership is evenly d ...

South Indian Bank The South Indian Bank Limited (SIB) is a major private-sector bank headquartered at Thrissur in Kerala, India. As of 31 December 2024, the bank had a network of 955 banking outlets (954 branches and 1 service branch) and 1290 ATMs/CRMs (1159 A ...

Standard Chartered Bank Standard Chartered PLC is a British multinational bank with operations in wealth management, Wholesale banking, corporate and investment banking, and treasury services. Despite being headquartered in the United Kingdom, it does not conduct retai ...

Co-operative Sector Banks

* Saraswat Co-operative Bank Ltd
NNSB - NAGPUR NAGARIK SAHAKARI BANK LTD
Nagpur Nagarik Sahakari Bank Ltd.
MAHESH BANK
A. P. Mahesh Co-operative Urban Bank Ltd.

Payments Banks and Small Finance Banks

Equitas Small Finance Bank Equitas Small Finance Bank (erstwhile Equitas Microfinance Ltd) is a small finance bank founded in 2016 as a microfinance lender. The Bank has its headquarters in Chennai, and is a subsidiary of holding company Equitas Holdings Ltd. History Af ...

References

External links

Official site

Five associate banks, BMB merge with SBIRajnish Kumar is new IBA chairman
categories:

Banking in India Modern banking in India originated in the mid of 18th century. Among the first banks were the Bank of Hindustan, which was established in 1770 and liquidated in 1829–32; and the General Bank of India, established in 1786 but failed in 1791. ...

Consumer protection in India A consumer is a person or a group who intends to order, or use purchased goods In economics, goods are anything that is good, usually in the sense that it provides welfare or utility to someone. Alan V. Deardorff, 2006. ''Terms Of Trade: G ...

{{Financial services in India Trade associations based in India Banking in India Bankers associations 1946 establishments in India