Private Banks in India
Private Banks in India – भारत में निजी बैंक The bank plays a major role in the upliftment of an individual, community and also a nation. It is the bank who provide an individual loan to start a business or to a student to achieve his dream. It also a place where transactions maintained. Banks are classified into 2 types: Public and Private banks in India.
What is a private bank?
Banks which are controlled by any individual or partnership with few partners are called private sector banks. Private banks usually have different shareholders. Example: HDFC Bank, ICICI Bank.
Private Bank vs Public Bank in India
The public sector banks are run by the government while the private sector banks are run by individuals. Though both the banks provide the same services there are some drawbacks too.
In India, the services provided by the public sector are less as compared to the private sectors. The interest rates for a loan is significantly higher in the private sectors as compared to the public ones. The interest rates on deposited money are greater in public sectors. If we consider the working and also time management of private sector banks then they are a step ahead of the public sector banks.
Private banks in India wiki
Federal bank is a major commercial bank in India. It established by K. P. Hormis on 2nd December 1949 by renaming the Travancore Federal bank limited to Federal bank limited as per the formalities on Bank Regulation Act. It headquartered in Kochi, Kerala.
IDFC bank officially established in October 2015. It headquartered in Mumbai, Maharashtra, India. This bank basically serves private companies as well as customers.
IndusInd Bank established by S. P. Hinduja in April 1994. Union Finance Minister Dr Manmohan Singh inaugurated the bank. It headquartered in Mumbai, Maharashtra, India.
It is one of the commercial banks in India established at the beginning of the 1930s. DCB bank has about 323 branches all over India.
Axis bank is one of the largest commercial banks in India. It ranked 3rd in the top commercial bank list. Axis bank established in 1993 as Unit Trust of India which renamed as Axis bank on July 30, 2007. It headquartered in Mumbai, Maharashtra.
Yes bank ranked 4th in the private sector bank in India. It established in 2004 by Rana Kapoor and also Ashok Kapur.