India’s public sector banks closed 4,093 branches while opening 6,255 new ones between FY2021-22 and FY2025-26, according to government data covering branch networks, employee strength and account holders over the five-year period.
The figures were provided by the Ministry of Finance’s Department of Financial Services in response to Rajya Sabha Unstarred Question No. 2619, answered on August 11, 2026. The data was compiled from information received from the Reserve Bank of India and public sector banks.
Branch Closures Decline as New Openings Accelerate
Public sector banks closed 2,564 branches in FY2021-22, followed by 700 in FY2022-23 and 556 in FY2023-24. The number fell sharply to 146 in FY2024-25 and 127 in FY2025-26.
Canara Bank recorded the highest number of closures during the five-year period, with 1,342 branches shut. Punjab National Bank reported 967 closures, while Union Bank of India closed 949 branches.
At the same time, PSBs expanded their networks by opening 6,255 branches during the period. New branch openings rose from 476 in FY2021-22 to 932 in FY2022-23 and 1,057 in FY2023-24. The pace increased further to 1,823 branches in FY2024-25 and 1,967 in FY2025-26.
State Bank of India opened the largest number of branches over the five years, adding 1,187. Canara Bank opened 975 branches and Bank of Baroda added 542.
PSB Employee Strength Falls Before Marginal Recovery
The government data also tracks employment levels across public sector banks. Total employee strength stood at 7,84,258 as of March 31, 2021, before declining to 7,76,276 in 2022 and 7,67,080 in 2023.
The number fell further to 7,56,015 as of March 31, 2024, before registering a modest increase to 7,57,641 as of March 31, 2025.
Among the listed banks, SBI had the highest employee strength at 2,36,226 as of March 31, 2025. Punjab National Bank had 1,02,746 employees, while Canara Bank had 81,260.
The figures show that the overall workforce of public sector banks remained below its March 2021 level despite the small increase recorded in the latest year covered by the employee data.
Account Holders Rise to 160.16 Crore
While employee strength declined over much of the period, the total number of account holders in public sector banks increased steadily.
PSBs had 144.90 crore account holders as of March 31, 2022. The figure rose to 148.92 crore in 2023, 153.97 crore in 2024 and 156.60 crore in 2025, before reaching 160.16 crore as of March 31, 2026.
SBI accounted for 53.03 crore account holders as of March 31, 2026. Punjab National Bank had 18.53 crore account holders, while Bank of Baroda had 18.93 crore.
The government figures present a mixed picture of the public sector banking network over the five years, with thousands of branches closed but a larger number opened, employee strength declining overall and the number of account holders continuing to rise.
