Private-sector banks in India

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The private sector banks in India are banks where the majority of the shares or equity are not held by the government but by private share holders.

In 1969 all major banks were nationalised by the Indian government. However, since a change in government policy in the 1990s, old and new private sector banks have re-emerged. The private sector banks are split into two groups by financial regulators in India, old and new. The old private sector banks existed prior to nationalisation in 1968 and kept their independence because they were either too small or specialist to be included in nationalisation. The new private sector banks are those that have gained their banking license since the change of policy in the 1990s.

The Nedungadi Bank was the first private sector bank in India, founded in 1899 by Rao Bahadur T.M. Appu Nedungadi in Kozhikode, Kerala.

List of the old private sector banks in India[edit]

Name Year Established
1. City Union Bank 1904
2. Karur Vysya Bank 1916
3. Catholic Syrian Bank 1920
4. Tamilnad Mercantile Bank 1921
5. Nainital Bank (Wholly owned subsidiary of Bank Of Baroda) 1922
6. Karnataka Bank 1924
7. Lakshmi Vilas Bank 1926
8. Dhanlaxmi Bank 1927
9. South Indian Bank 1929
10. Federal Bank 1931
11. Jammu and Kashmir Bank 1938
12. RBL Bank 1943

List of the new private sector banks in India[edit]

Name Year Established
1. DCB Bank 1930
2. ICICI Bank 1990
3. Axis Bank 1993
4. HDFC Bank 1994
5. IndusInd Bank 1994
6. Kotak Mahindra Bank 2001
7. Yes Bank 2004
8. IDFC Bank 2015
9. Bandhan Bank 2015

References[edit]