List of banks in India  Banks in India are classified into four categories -    List of Regional Rural Banks (RRBs): At present, there are 43 RRBs in India Since 1 April 2020. List of banks which are incorporated outside India and are operating branches in India:  List of foreign banks with representative offices in India:  List of State Co-operative Banks: List of scheduled and unscheduled Urban Co-operative Banks: Local area banks are non scheduled banks and they were set up with the twin objectives of providing an institutional mechanism for promoting rural and semi urban savings and for providing credit for viable economic activities in the local areas. They were established as public limited companies in the private sector. They are promoted either by individuals , corporate, trusts or societies. The minimum paid up capital of such banks is ₹5 crores. The promoter’s contribution should be at least ₹2 crores. Local area banks can operate and open their branches in a maximum of three geographically contiguous districts. They are governed by the provisions of Reserve Bank of India act 1934, Banking Regulation act 1949 and other relevant statutes. They are to be registered as public limited companies under the Indian companies act 1956. Since they are non scheduled banks, they cannot borrow funds from Reserve Bank of India like other scheduled commercial banks.Local Area Banks in India are the following :