State Bank of India (SBI)

SBI is India's largest public sector bank, with a balance sheet larger than most private banks combined.

It holds a dominant position in rural lending, government payments, and infrastructure project financing.

The bank's NPA situation has improved significantly over the last five years following large provisioning cycles.

SBI's sheer distribution — 22,000+ branches — gives it a deposit franchise that private banks cannot replicate.

For investors, SBI is essentially a macro play on India's credit cycle and public infrastructure spending.