Private sector banks in India: SSC-CGL, SSC-CHSL, Banking

A complete article on private sector banks in India from the perspective of the SSC CGL/CHSL and Banking examinations.

This article aims to delve into Private Sector banks that are an important part of the financial institutions of India from the perspective of the SSC CGL/CHSL and Banking examinations.

Private Sector Banks are commercial banks where the major equity is held by private shareholders.

In 1969, all major banks were nationalized by the Government under Indira Gandhi which went on to become the major lenders of the economy.

In 1990, the Indian government opened its trade barriers and liberalized the economy which led to various new private banks making an entry in the Indian finance sector.

Nedungadi Bank was the first private bank founded in India by Rao Bahadur T.M. Appu Nedungadi in Kozhikode, Kerala.

HDFC bank has been ranked as the No.1 bank by Forbes.

Private Banks hold a share of 33.6% of the market capitalization.

Read more: Population Census Of India 2019 – SSC-CGL, CHSL & Banking

Private Sector Banks in India before 1968 (Old private Banks)

These banks existed at the time when major banks were being nationalized but did not get nationalized due to their small capital size or other reasons.

Banks Managing Director Founding Year Tagline
City Union Bank Dr. N. Kamakodi 1904 Trust and excellence since 1904
Karur Vysya Bank P.R Seshadri 1916 Smart way to bank
Catholic Syrian Bank V.R Rajendran 1920 Support all the way
Tamilnad Mercantile Bank H.S Upendra Kamath 1921
Nainital Bank(subsidiary of Bank of Baroda) Mukesh Sharma 1922 Banking with a  personal touch 
Karnataka Bank M S Mahabaleshwara 1924 Your family bank across India
Lakshmi Vilas Bank Parthasarathi Mukherjee 1926 The changing face of prosperity
Dhanlaxmi Bank T Latha 1927 Tann,Mann,Dhann
South Indian Bank V.G Mathew 1929 Experience next generation banking
DCB Bank Murali M Natrajan 1930 We value you
Federal Bank Shyam Srinavasan 1931 Your perfect banking partner
Jammu and Kashmir Bank R.K Chibber  1938 Serving to empower
RBL Bank Vishwavir Ahuja 1943 Apno ka bank

Private Sector Banks after 1991 (New private banks)

New Private Banks refer to banks that entered the Indian finance sector after the liberalization of the economy in 1991 and the revision of the RBI guidelines in 1993 which allowed private banks to come in India.

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Bank Managing Director Founding Year Tagline
ICICI Bank Sandeep Bakhshi 1994 Khayaal Apka
Axis Bank Amitabh Choudhry 1993 Badhti ka naam zindagi
HDFC Bank Aditya Puri  1994 We understand your world
Kotak Mahindra Bank Uday Kotak 2003 Let’s make money simple
Yes Bank Ravneet Gill 2004 Experience our expertise
Induslnd Bank Romesh Sobti 1994 We make money simple
IDFC First Bank V. Vaidyanathan 2015 Banking Hatke
Bandhan Bank Chandra Shekhar Ghosh 2001 Aapka bhala sabki bhalai
IDBI Bank Rakesh Sharma 1964 1)Banking for all

2) aao sochein bada

Payments bank

Payment banks are a new type of microfinance banks which have recently been conceptualized by the RBI.

These banks accept a restricted deposit of up to 1 lakh rupees per costumer.

Bank Managing Director Founding Year Headquarters
Airtel Payments Bank Anubrata Biswas 2019 Delhi
Jio Payments Bank H Srikrishnan 2018 Navi Mumbai
Fino Payments Bank Rishi Gupta 2017 Maharashtra
Paytm Payments Bank Limited Satish Kumar Gupta 2019 Noida, Uttar pradesh

Private Bank Mergers

Following are the notable mergers of private banks: 

Bank 1 Bank 2 Year
Kotak Mahindra Bank ING Vysya Bank 2015
HDFC Bank Centurion Bank of Punjab 2008

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