Online banking, also known as Internet banking-banking, is an electronic payment system that facilitates bank customers to carry out various financial transactions through the Bank’s website. Most of the banking functions can be accessed by you 24X7 through your computer or mobile. With such facilities available in banking, some risks are also involved, which puts tremendous anxiety on the users. Suppose you are not alert while banking online. You may face certain security risks. You can avoid such perils if you are very careful. In this Article you Will See Top 10 Government Banks in India For Safe Online Banking.
After the PMC Bank and YES Bank episodes, people have become more concerned about keeping their money in banks because they were feeling insecure. Yet, people believed in the government Banks for safe online banking.
Online banking as a service is evolving faster, and it is in the best interest of consumers to learn how to transact and avail of the services digitally. It is necessary to educate oneself about online banking to avoid wasting precious time at bank queues and getting stuck in traffic jams to conduct any banking transactions physically.
RBI regulates the banking sector. A few banks have merger will help increase productivity, efficiency, boost the six-year low economy, and reduce the number of bad loans and NPA’s. Our country has 12 public Sector Banks operating.
Let us discuss the top 10 government banks in India for safe online banking. They are State Bank Of India, Punjab National Bank, Bank of Baroda, Bank of India, Canara Bank, Union Bank of India, Indian Overseas Bank, Indian Bank, UCO Bank, and the Bank of Maharashtra.
Top 10 Government Banks in India For Safe Online Banking
- State Bank of India (SBI)
State Bank of India (SBI) is India’s largest public sector bank, with more than 23% market share of assets and deposit market. It employs nearly 250,000 people. SBI has more than 24000 branches in India that contribute about 95% of its revenue.
- Punjab National Bank (PNB)
PNB is the oldest Bank in India. It is the second-largest Public Sector Bank after SBI, both in terms of business and customer base. The Oriental Bank of Commerce and the United Bank of India have merged with it. As of 31 March 2019, the Bank has over 180 million customers, 12,248 branches, more than 13,000 ATMs, with 70,810 employees.
- Bank of Baroda (BOB)
BOB is one of the largest nationalized banks in India, with 132 million customers. Vijaya Bank and Dena Bank have merged with BOB to create the country’s second-largest lender. The amalgamation now has a combined business of Rs14.82 trillion. Bank of Baroda is likely to rationalize about 900 branches to improve its efficiency and reduce replicating post-merger. Bank of Baroda is aiming to expand in eastern India to enhance its presence in that region.
- Bank of India (BOI)
BOI was established on 7 September 1906 was nationalized in the year 1969. It became a government public sector bank. BOI is a founder member of The Society for Worldwide Inter Bank Financial Telecommunications (SWIFT), making it possible for gainful financial dealings and communication services. BOI has 5108 branches and 5,551 ATMs across the world. 
- Canara Bank
Syndicate Bank has merged with Canara Bank, making it the 4th largest Public sector bank. Canara Bank initiated a solar loan program by partnering with the United Nations Environment Programme (UNEP) to address environmental issues. This financial effort helped speed up the market for solar home systems in southern India.
- Union Bank of India (UBI)
After the merger of the Union Bank of India with Corporation Bank and Andhra Bank, the amalgamated entity became the fifth largest PSU bank with about 9600 branches. The total bank assets are ₹1,071,705 crores. In the year 2020, the Bank had 75,000 employees in its role.
- Indian Overseas Bank (IOB)
Indian Overseas Bank (IOB) has about 3,400 domestic branches, six foreign branches and a representative office. The Bank was founded with twin objectives of specializing in foreign exchange business and overseas banking. The IOB is one of the two banks recommended for privatization by NITI Aayog. The number of employees is 23,579 (2021).
- Indian Bank
It serves more than 100 million customers, about 41,600 employees, 6,000 branches with 5,400 ATMs, and is one of India’s well-performing public sector banks. The total business of the Bank has touched ₹930,000 crores as of 31 March 2021. Allahabad Bank merged with the Indian Bank makes it the seventh-largest Bank in the country.
- UCO Bank
Previously known as United Commercial Bank, As of 30 March 2017, the Bank had 4,000 plus units, total assets as of March 2021 is ₹253,336.1092 crore. UCO Bank has 49 zonal offices in India. The total number of employees as of March 2021 is 22,012.
- Bank of Maharashtra
The Bank had 15 million customers with 1,900 branches as of 25 March 2021. The total business of the Bank crossed ₹ 2,66,000 lakh crore, the total assets ₹184,082 crores and the number of employees stood at 13,048 as of 31 December 2020.
Here are Some Practical Online Banking Security Tips That Will Help You Have a Safer Online Banking Experience
Create strong passwords and frequently change them. This is the first rule of safe banking.
Do not ever use anything personal data such as birthdays, pet names or favorite foods. As your passwords. It is suggested that using random strings of lowercase and uppercase letters, numbers, and symbols to create a tough password
- Checking Your Bank Statements
To avoid online fraud, check your bank statements regularly and contacting the bank if you notice any discrepancy.
- Use a Secure Location/Sites/Network When Banking Online
Avoid free and public Wi-Fi networks as they are the easy target for hackers to steal your personal information. Make sure to check your bank’s website address bar begins with ‘HTTPS has the lock symbol thus keeping your personal information safe.
- Bank Assistance Numbers
Always keep your banks’ assistance numbers handy, in case you see a transaction you have not made, intimate the bank immediately to stop the transaction.
- Always Log Out
To avoid falling prey to exploitation, always log out after your online banking session is completed.
Ask your banker to provide you with two-factor authentication where, once you are registered with them, the bank would send you a one-time password (OTP) to be keyed in the bank’s website along with your username and password. Thus you can prevent identity theft.
- Email Scams
No bank would ever ask you to share your sensitive, personal information or account details over email or a text message. Never respond to any of these emails where they ask you for personal information, they lead to your account phishing.
- Antivirus Software
Install and regularly update antivirus software to prevent screen uninvited emails and pop-up ads.
- Software Update
Update the software to prevent infection by computer malware. Try to install the latest edition of your operating system to safeguard your valuable data.
- Stay Vigilant
As technologies extend and improve, so also risks increase to online transactions. Be vigilant and following the tips above, you can ensure you have a safe and easy Internet banking experience. Safe banking!
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If you take necessary precautions while transacting online banking, these top 10 government banks are safe in India.