Australian Student Visa List of Recognised Banks

The Department of Home Affairs (Australia) monitors the financial sectors in India and accepts financial institutions which meet the regulatory requirements. The Regulations define the term 'financial institution' for the purposes of student visa applications as: financial institution is a body corporate, that, as part of its normal activities takes money on deposit and makes advances of money; a) under a regulatory regime: i) governed by the central bank (or its equivalent) of the country in which the body corporate operates; and ii) that the Minister is satisfied provides effective prudential assurance; and b) in a way that the Minister is satisfied complies with effective prudential assurance requirements.

So the Home Affairs Australia only recognises banks that are regulated by the Reserve Bank of India (RBI). The below banks fall under this category:

 SBI and Associates  Nationalised Banks  Other Public Sector Banks  Private Sector Banks - Indian Banks (not including Payment Banks or Local Area Banks)  Private Sector Banks - Foreign banks  Regional Rural Banks

For further information, including updates on India's regulated banks and legal framework, see https://rbi.org.in/commonman/English/Scripts/BanksInIndia.aspx.

Here we have compiled a list of popular banks in India which are recognised by Department of Home Affairs for Australian student visa

SBI & other Nationalised Banks State Bank of India Bank of India Bank of Baroda Canada Bank Bank of Maharashtra Indian Overseas Bank Central Bank of India Punjab National Bank Indian Bank Punjab & Sindh Bank Union bank of India UCO Bank

Other Public Sector Banks Federal Bank Limited HDFC Bank Limited Indusind Bank Limited ICICI Bank Ltd IDFC First Bank Limited Jammu & Kashmir Bank Limited Bandhan Bank Limited Karnataka Bank Limited Kothak Mahindra Bank Limited Karur Vysya Bank Limited Lakshmi Vilas Bank Limited Nanital Bank Limited South India Bank Limited RBL Bank Limited Tamilnadu Mercantile Bank Limited IDBI Bank Limited Bandhan Bank Limited Yes Bank Limited

Private Sector Banks - Foreign banks Australia & New Zealand Banking Group Ltd (ANZ) National Australia Bank Sonali Bank Limited Westpac Banking Corporation AB Bank Ltd Bank of Bahrin & Kuwait Bank of Nova Scotia BNP Paribas DBS Bank HSBC Bank Limited United Overseas Bank Ltd Bank of Ceylon American Express Banking Corporation Barclays Bank Ltd The Royal Bank of Scotland Bank of America J.P.Morgan Chase Bank N.A. Citi Bank Standard Chartered Bank Emirates NBD Bank PJSC Sinhan Bank Industrial Bank of Korea

Regional Rural Banks Assam Gramin Vikash Bank Arunachal Pradesh Rural Bank Andhra Pradesh Grameena Vikas Bank Aryavart Bank Andhra Pradesh Pragathi Grameena Bank Bangiya Gramina Vikash Bank Baroda Rajasthan Kshetriya Gramin Bank Boroda Gujarat Gramin Bank Baroda UP Bank Chaitanya Godavari Bank Himachal Pradesh Gramin Bank J & K Grameen Bank Karnataka Gramin Bank Kerala Gramin Bank Madhya Pradesh Gramin Bank Maharashtra Gramin Bank Telangana Grameena Bank Manipur Rural Bank Tamil Nadu Grameena Bank Tripura Gramin Bank

You can always contact us for a free counselling session and we can guide you on how to go about the entire visa application process.

Atlas Consultants – Phone: +91 8985702222 www.atlasindia.net