Private Bank in India

Private Bank in India

The Reserve Bank of India, India’s main bank, regulates the country’s banks. It is India’s most powerful banking regulatory body. Banks in India are divided into several categories, each with its own operating procedures, target markets, benefits, and limits.

In rural areas, a few banks specialize in serving small enterprises, agriculture, tiny cottage industries, and self-help organizations. Commercial banks, on the other hand, operate in both rural and urban areas. As a result, a strong financial system is critical to the economy’s success.

Types of Bank in india (Categories of Banks in India)

Banks in India are divided into 4 parts.These banks have their own distinct features. These banks are as follows -

• Private Sector Banks
• Public Sector Banks
• Regional Rural Banks
• Foreign Banks

2. Small Finance Bank

What is Private Sector Bank (Private Bank in India)

These are the financial institutions in which private individuals possess the majority of the shares or equity. Initially, public sector banks dominated the Indian banking industry, but private sector banks emerged in the 1990s and have since developed significantly.

Because they used cutting-edge technology, new monetary instruments, and delivered cutting-edge inventions, they were able to achieve rapid growth.

Private banks in India are divided into two parts-

1. Old Private Sector Banks (emerged before 1968).
2. New Private Sector Banks (emerged after 1968).

In comparison to the new private sector banks, the previous private sector banks are smaller. A list of private banks in India is shown below.

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List of Private Bank in India(Private Bank in India)

In India, there are now 21 functioning and rapidly operating private banks. With declining and changing financial situations, a user should think about the greatest banking solutions available in India’s private sector banks.

Sr No.	Bank’s Name	Total Branches	Establishment	Headquarter
1.	Axis Bank	4528	1993	Mumbai, Maharashtra
2.	CSB Bank	417	1920	Thrissur, Kerala
3.	DCB Bank	334	1930	Mumbai, Maharashtra
4.	HDFC Bank	5430	1994	Mumbai, Maharashtra
5.	ICICI Bank	5288	1994	ICICI Bank
6.	Bandhan Bank	670	2015	Kolkata, West Bengal
7.	J&K Bank	1038	1938	Srinagar, Jammu, and Kashmir
8.	IDBI Bank	1892	1964	Mumbai, Maharashtra
9.	City Union Bank	700	1904	Kumbakonam, Tamil Nadu
10.	IndusInd Bank	2,000	1994	Pune, Maharashtra
11.	IDFC FIRST Bank	260	2015	Mumbai, Maharashtra
12.	Karur Vysya Bank	779	1916	Karur, Tamil Nadu
13.	YES Bank	1000	2004	Mumbai, Maharashtra
14.	Dhanlaxmi Bank	270	1927	Thrissur city, Kerala
15.	Tamilnad Mercantile Bank	509	1921	Tuticorin, Tamilnadu
16.	Federal Bank	1284	1931	Aluva, Kochi
17.	Karnataka Bank	857	1924	Mangaluru, Karnataka
18.	Kotak Mahindra Bank	1500	2003	Mumbai, Maharashtra
19.	South Indian Bank	876	1929	Thrissur, Kerala
20.	RBL Bank	398	1943	Mumbai, Maharashtra
21.	Nainital Bank	150	1922	Nainital, Uttarakhand

You can read about all these banks in detail below, you can get more information about these banks.

1. Axis Bank

The first name on the list of private banks in India is Axis Bank. It is India’s third largest and most well-known private bank. It is one of the country’s first new-generation private sector banks. In the year 1994, Axis Bank began operations. Mumbai, Maharashtra, is the company’s headquarters.

Axis Bank provides a wide range of financial services to large and mid-sized organisations, small and medium-sized enterprises, agribusiness, and retail businesses. It operates a nationwide network of 4,528 branches, 12,044 ATMs, and 5,433 cash recyclers.

Axis has offices in 11 countries, including Singapore, Dubai, Shanghai, Hong Kong, Colombo, and Gift City-IBU. It also has offices in Dubai, Abu Dhabi, Dhaka, and Sharjah, as well as an international subsidiary in London.

The tagline of Axis Bank is- “Badhti Ka Naam Zindagi”.

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2. CSB Bank

In the list of private bankers in India, CSB Bank comes in second. The oldest private sector bank in Kerala is CSB Bank, originally known as Catholic Syrian Bank. It all started in November of 1920, with a humble beginning. Its headquarters are in the Kerala town of Thrissur.
In Southern India and Maharashtra, CSB has a large presence. It currently operates 417 branches and 310 ATMs in 18 states and two union territories. SME banking, retail banking, corporate banking, and treasury operations are the four main business categories.

In 1969, CSB was designated as a scheduled bank and was included in the RBI Act’s second schedule. In 1975, it joined the sphere of international banking.

The tagline of CSB Bank is-  “Support All the Way”.

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3. DCB Bank(Private Bank in India)

In the list of private banks in India, DCB Bank comes in second. It is a private sector bank of the next generation. The Reserve Bank of India regulates DCB as a scheduled commercial bank. Since its inception in the 1930s, it has had a strong presence in India. Mumbai, Maharashtra, is the company’s headquarters.

Retail, micro-SME, SME, mid-corporate, government, public sector, Indian banks, co-operative banks, agriculture, commodities, and NBFC are the business segments of DCB Bank. It has a customer base of around 6 lakh people.
It boasts a 334-branch network that is state-of-the-art and customer-friendly. Andhra Pradesh, Bihar, Chhattisgarh, Daman, Delhi/ NCR, Goa, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Silvassa, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal are among the states where these branches can be found.

The tagline of DCB Bank is- “We value you”.

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4. HDFC Bank

The HDFC Bank is India’s leading private banks. HDFC was among the first to receive approval from the RBI to set up a private sector bank. It was established in the year 1994 and headquartered in Mumbai, Maharashtra. It is the largest private sector bank in India by assets.

HDFC offers a wide range of financial products and services including wholesale & retail banking, treasury, loans, and credit cards to its customers. It has a banking network of 5,430 branches and 15,292 ATMs spread across the country.

HDFC branches are linked online in real-time. It provides its services to customers across India through multiple delivery channels such as phone banking, NetBanking, mobile banking, and SMS-based banking.

The tagline of HDFC Bank is- “We Understand Your World”.

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5. ICICI Bank(Private Bank in India)

ICICI Bank is one of India’s largest and fastest-growing private sector banks. On September 30, 2020, it had consolidated total assets of Rs.14.76 trillion.

It first opened its doors in the year 1994. The bank’s corporate office is in Mumbai, Maharashtra, and its registered office is in Vadodara, Gujarat.
Corporate and retail customers can choose from a wide selection of financial services and banking products offered by ICICI. It presently has a nationwide network of 5,288 branches and 15,158 ATMs.

Customers can access ICICI’s services through a variety of distribution channels and group organisations.

The tagline of ICICI Bank is- “Hum Hai Na, Khayal Apka”.

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6. Bandhan Bank

In India’s list of private banks, Bandhan Bank is the following name.

Bandhan Financial Holdings Limited owns and operates Bandhan Bank, which is a wholly owned subsidiary of Bandhan Financial Holdings Limited. In the year 2015, it first opened its doors. Kolkata, West Bengal, is its headquarters.
Customers of Bandhan Bank can take advantage of a wide range of banking products and services. It currently has a nationwide network of 4,701 banking locations.

Customers in urban, semi-urban, and rural areas can all use Bandhan Bank’s services and products. It treats all clients, big and small, with the same regard. It is geared toward fulfilling the requirements of those who are left out of the traditional banking system.

The tagline of Bandhan Bank is- “Aapka Bhala, Sabki Bhalai” .

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7. J&K Bank(Private Bank in India)

In Jammu and Kashmir’s UT and Ladakh, J&K Bank serves as a universal bank. In the rest of the country, it also serves as a specialised bank. It was founded in 1938 and has its headquarters in Srinagar, Jammu and Kashmir.

J&K Bank has a two-pronged business strategy: it wants to expand lending in its local territory while also looking for specialist lending opportunities across India. It operates a nationwide network of 1,038 branches and 1340 ATMs.
The “socially empowering banking” idea guides J&K Bank’s operations. It aims to provide new financial solutions to individuals, small businesses, and medium-sized businesses.

The tagline of J&K Bank is-  “Serving To Empower”.

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8. IDBI Bank(Private Bank in India)

IDBI Bank is a private bank in India. The IDBI Bank is a full-service universal bank that caters to people from all walks of life. In 1964, the Industrial Development Bank of India (IDBI) was established. Mumbai, Maharashtra, is the company’s headquarters.
IDBI offers a variety of financial services and products, including deposits, loans, payment services, and investment opportunities. It has a network of 1,892 branches and 3,467 ATMs spread over India.

It provides a cutting-edge suite of digital services to complement its extensive branch and ATM network across India. Customers can also contact IDBI Bank through our customer service centre, which is open 24 hours a day, seven days a week.

The tagline of IDBI Bank is- “Banking For All, “Aao Sochein Bada”, Bank Aisa Dost Jaisa”.

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9. City Union Bank

Kumbakonam Bank Limited was the original name of City Union Bank. On October 31, 1904, it was incorporated as a limited liability corporation. Its headquarters are currently located in Kumbakonam, Tamil Nadu.

In 1980, City Union opened its first branch outside of Tamil Nadu. It currently operates a nationwide network of over 700 branches and 1762 ATMs. Customers can choose from a variety of products and services provided by City Union.

The tagline of City Union Bank is- “Trust and Excellence”.

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10. IndusInd Bank

IndusInd Bank is the next name on the list of India’s private banks. IndusInd Bank is a next-generation private bank with a global presence. Manmohan Singh, the then-Union Finance Minister, inaugurated it in 1994. The company’s headquarters are in Pune, Maharashtra.

Individuals and businesses can benefit from IndusInd’s comprehensive range of goods and services. Microfinance, personal loans, vehicle loans, credit cards, and SME loans are all included. It has a nationwide distribution network of over 5,000 locations and approximately 2,000 branches.

It has expanded steadily and dynamically throughout the years to provide its customers with high-quality financial services. IndusInd has a customer base of around 2.5 crore people. It is a favoured banking partner for a number of government agencies, public sector organisations, and significant corporations.

The tagline of Induslnd Bank is-  “We Care Dil Se, We Make You Feel Richer”.

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11. IDFC FIRST Bank(Private Bank in India)

One of India’s private sector banks is IDFC FIRST Bank. In January 2018, the erstwhile IDFC Bank and the erstwhile Capital First announced their merger. In the year 2015, it began operations. Mumbai, Maharashtra, is the company’s headquarters.

Individuals, small enterprises, and corporations can all benefit from IDFC First’s financial services. It has 260 branches and 140 ATMs all across India. It has a big retail customer base of about 70 lakh clients, with 30 lakh of them living in rural areas.

The tagline of IDFC FIRST Bank is- “Banking Hatke”.

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12. Karur Vysya Bank

Karur Vysya Bank is the second private bank in India on the list. Karur Vysya Bank is a 103-year-old bank with a long history. It all began in the year 1916. The company’s headquarters are in Karur, Tamil Nadu.

Karur Vysya is one of the country’s leading banking institutions. It provides millions of consumers with a wide range of financial services all under one roof. It had a branch network of 779 locations and a 1658 ATM network.

Karur Vysya was one of India’s first banks to accomplish full branch networking under Core Banking Solutions.

The tagline of Karur Vysya Bank is- “Smart Way to Bank”.

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13. YES Bank

YES Bank is one of India’s most successful and fastest-growing private sector banks. It is a customer-focused, service-oriented bank. In the year 2004, it was established. Mumbai, Maharashtra, is the bank’s headquarters.

It caters to corporate, MSME, and retail consumers with a wide range of products, services, and technology-driven digital offerings. It has a large network of over 1,000 branches across India.

YES Bank has a presence all throughout India. It also has an IBU in GIFT City and an Abu Dhabi Representative Office.

The tagline of YES Bank is- “Experience Our Expertise”.

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14. Dhanlaxmi Bank

Dhanlaxmi Bank is the next name on the list of India’s private bankers. One of the oldest private sector banks is Bank. In the year 1927, it became a legal entity. Over 93 years, it has gained the trust and goodwill of clients thanks to its rich history. Its headquarters are in the Kerala city of Thrissur.
The Reserve Bank of India has recognised it as a scheduled commercial bank. In the year 2010, it changed its name from Dhanalakshmi Bank to Dhanlaxmi Bank.In 2015, it introduced “Dhan Smart” (a mobile app) for the convenience of its consumers. It has a customer care network of 531 touchpoints spread across India.

The tagline of Dhanlaxmi Bank is- “Tann.Mann.Dhan”.

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15. Tamilnad Mercantile Bank

Thoothukudi, Tamil Nadu-based Tamilnad Mercantile Bank is a private sector bank. It was established in 1921 as the Nadar Bank. In November 1962, it was renamed Tamilnad Mercantile Bank.

It currently has 509 full-fledged branches, 12 regional offices, 11 extension counters, and 11151 ATMs across India. All of the branches are computerised and linked.

Tamilnad Mercantile Bank was founded with the goal of providing banking services to India’s common people. Out of the 509 branches, 457 are located in rural, semi-urban, and urban (non-metro) areas.

The tagline of Tamilnad Mercantile Bank is- “Be a step ahead in life”

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16. Federal Bank(Private Bank in India)

Federal Bank is a private bank based in India. It is one of the first traditional banks in India to utilise technology to enhance its operations. The company was founded in 1931 and is headquartered in Aluva, Kerala.

Federal Bank provides a variety of services to its clients. It has a wide network of 1284 branches and 1569 ATMs in India, distributed across many states. In addition, it established a representative office in Abu Dhabi and Dubai.

The tagline of Federal Bank is- “Your Perfect Banking Partner”.

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17. Karnataka Bank

Karnataka Bank is the second private bank in India on the list. Karnataka Bank is one of India’s top “A” class scheduled commercial banks. It was founded on February 18, 1924, in Mangaluru, a coastal town in the Indian state of Karnataka.

It has 857 branches in 22 states and two union territories, giving it a national presence. It currently employs over 8,220 people and serves over 10.21 million clients.

Karnataka Bank has made use of cutting-edge information technology to provide products and services to its customers. As a result, it has become India’s top financial services institution.

The tagline of Karnataka Bank is- “Your Family Bank Across India”.

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18. Kotak Mahindra Bank(Private Bank in India)

In the list of India’s private banks, Kotak Mahindra Bank comes in second. Kotak Bank is one of the country’s fastest-growing banks. It is the Kotak Group’s flagship company. The bank first opened its doors in 2003. Mumbai, Maharashtra, is the company’s headquarters.

Retail and corporate customers can use Kotak Mahindra’s banking and financial services. It has a big branch network of over 1,500 locations and 2,350 ATMs.

The tagline of Kotak Mahindra Bank is- “Let’s Make Money Simple, Ab Kona Kona Kotak”.

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19. South Indian Bank

South Indian Bank is the second private bank in India on the list. The company was founded in 1929. Its headquarters are in Thrissur, Kerala.

South Indian Bank was the first bank in Kerala to use the Core Banking System (CBS). It operates a nationwide network of 876 branches, 53 extension counters, and 1,334 ATMs.

The tagline of South Indian Bank is- “Experience Next Generation Banking” 

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20. RBL Bank

Ratnakar Bank was the previous name of RBL Bank. It is one of India’s most rapidly rising private sector banks. In the year 1943, it was established. It currently serves more than 8.76 million customers. The headquarters of RBL are in Mumbai, Maharashtra.

The tagline of RBL Bank is-  “Apno ka Bank”.

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21. Nainital Bank(Private Bank in India)

Nainital Bank is a commercial bank that operates on a regular basis. It is the Bank of Baroda’s subsidiary. It was founded in 1922 to meet the banking needs of the residents of the region. The bank’s headquarters are in Uttarakhand’s Nainital.

Customers of Nainital Bank receive individual attention. It currently operates a 150-branch network. Uttarakhand, Delhi, Uttar Pradesh, Haryana, and Rajasthan are the locations of these branches.

The tagline of Nainital Bank is- “Banking With Personal Touch”.

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Private Bank in India

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