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.
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.
|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
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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