Private Banks in India
Indian Private Banks are the banks which have significant parts of equity or shares and government doesn’t hold any stake. Instead, there are private holders of share in the Private Banks in India. RBI is the responsible for approving the private, public or any other banking services in India.
History of the emergence of Private Banks in India
In1969, all major banks in India were nationalized and the Public Sector Banks have dominated the banking sector in India since then. After the economic liberalization of the 1990s, several private banks have introduced. In the last two decades, they have progressed rapidly due to their latest technology and monetary techniques and tools.
Among all these Private Banks in India, the first one was the Nedungadi Bank which founded in Kerala by Rao Bahadur T.M. Appu Nedungadi in the year 1899. Here you can find the Types of Banks in India list, get the all related banks information from here.
What are the two types of Private Sector Banks in India?
Financial regulators have divided the Private Sector Banks into two groups- the old and the new. The old Private Banks are those that existed before the 1969 nationalization and remained independent.
The new private banks in India are the ones that have given banking license after liberalization of the banking policy in India.
In the year 1990, all these banks have re-emerged after the liberalization.
List of Private Sector Banks in India (Private Banks):
|Sl. No.||List of Private Banks in India|
|3||Catholic Syrian Bank|
|4||City Union Bank|
|13||Karur Vysya Bank|
|14||Kotak Mahindra Bank|
|15||Lakshmi Vilas Bank|
|18||South Indian Bank|
|19||Tamilnad Mercantile Bank Limited|
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