There are certain Private banks in India. These banks are run by private stakeholders and there is no role of Government in handling them. However, from the times the private banks have been reformed and recreated as per the requirements. There were old private and new private banks in India details of which are-
Old Private Banks are those which have existed much before than 1969 (period of nationalization). These banks have never been nationalized. These kind of banks although have small scope and are restricted to certain set of people, but these banks get more business for the nation.
New Private Banks are those which have emerged after liberalization in 1990s. These banks have reformed the economical & financial sector of India. There were certain rules and policies made before any private bank is made in the country. Any new bank which has to be created need to abide by the regulations as set by the Banking regulation act.
List of Private Banks in India
|Axis Bank (earlier UTI Bank)||Karnataka Bank||IDFC Bank|
|Centurion Bank of Punjab||Nainital Bank||Yes Bank|
|Development Credit Bank (DCB)||Jammu and Kashmir Bank||ING Vysya Bank|
|ICICI Bank||Karur Vysya Bank||Bank of Rajasthan|
|IndusInd Bank||South Indian Bank||Dhanlaxmi Bank|
|Kotak Mahindra Bank||RBL Bank||Federal Bank|
|City Union||Tamilnad Mercantile Bank||South Indian Bank|
|HDFC Bank||Catholic Syrian Bank||Lakshmi Vilas Bank|
The private banks are 26+ number in India. Many branches are being opened for these banks in different locations of the country.
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