Private-sector banks in India

The private-sector banks in India represent part of the indian banking sector that is made up of both private and public sector banks. The "private-sector banks" are banks where greater parts of state or equity are held by the private shareholders and not by government.

Banking in India has been dominated by public sector banks since the 1969 when all major banks were nationalised by the Indian government. However, since liberalisation in government banking policy in the 1990s, old and new private sector banks have re-emerged. They have grown faster & bigger over the two decades since liberalisation using the latest technology, providing contemporary innovations and monetary tools and techniques.^[1]

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 the nationalisation in 1969 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 liberalisation in the 1990s.

Old private-sector banks

The banks, which were not nationalized at the time of bank nationalization that took place during 1969 and 1980 are known to be the old private-sector banks. These were not nationalized, because of their small size and regional focus.^[2] Most of the old private-sector banks are closely held by certain communities their operations are mostly restricted to the areas in and around their place of origin. Their Board of directors mainly consist of locally prominent personalities from trade and business circles. One of the positive points of these banks is that, they lean heavily on service and technology and as such, they are likely to attract more business in days to come with the restructuring of the industry round the corner.

List of the old private-sector banks in India

Name	Year established
1. Bank of punjab merged with Centurion Bank to form Centurion Bank of Punjab in June 2005	1943
2. City Union Bank	1904
3. Dhanlaxmi Bank	1927
4. Federal Bank	1931
5. ING Vysya Bank Merged with kotak Mahindra bank	1930
6. Jammu and Kashmir Bank	1938
7. Karnataka Bank	1924
8. Karur Vysya Bank	1916
9. Lakshmi Vilas Bank	1926
10. Nainital Bank ( Wholly owned subsidiary of Bank Of Baroda)	1922
11. SBI Commercial and international Bank	1955
12. South Indian Bank	1929
13. Tamilnad Mercantile Bank	1921
14. RBL Bank	1943
15. IDB Bank Ltd (reverse merged with parent IDBI in 2004 to become IDBI Bank. Making this public sector bank private)	1964
16. CATHOLIC SYRIAN BANK	1920

New private-sector banks

The banks, which came in operation after 1991, with the introduction of economic reforms and financial sector reforms are called "new private-sector banks". Banking regulation act was then amended in 1993, which permitted the entry of new private-sector banks in the Indian banking s sector. However, there were certain criteria set for the establishment of the new private-sector banks, some of those criteria being:#The bank should have a minimum net worth of Rs. 200 crores.

The promoters holding should be a minimum of 25% of the paid-up capital.
Reliance Capital, India Post, Larsen & Toubro, Shriram Transport Finance are companies pending a banking license with the RBI under the new policy, while IDFC & Bandhan were given a go ahead to start banking services for 2015.
Within 3 years of the starting of the operations, the bank should offer shares to public and their net worth must increased to 300 crores.^[3]

List of the new private-sector banks in India

Name	Year
1. Axis Bank (earlier UTI Bank)	1994
2. Bank of Punjab (actually an old generation private bank since it was not founded under post-1993 new bank licensing regime)	1989
3. Centurion Bank Ltd. (Merged Bank of Punjab in late 2005 to become Centurion Bank of Punjab, acquired by HDFC Bank Ltd. in 2008)	1994
4. Development Credit Bank (Converted from Co-operative Bank, now DCB Bank Ltd.)	1995
5. ICICI Bank (previously ICICI and then both merged;total merger SCICI+ICICI+ICICI Bank Ltd)	1996
6. IndusInd Bank	1994
7. Kotak Mahindra Bank	2003
8. Yes Bank	2005
10. Times Bank (Merged with HDFC Bank Ltd.)	2000
11. Global Trust Bank (India) (Merged with Oriental Bank of Commerce)	1994
12. Balaji Corporation Limited - Private Loan Company, not a Bank	2010
13. HDFC Bank	1994
14. Bandhan Bank	2015
15. IDFC Bank	2015

16 IDBI bank

References

↑ "Introduction to private sector banks". Retrieved 10-09-2011. Check date values in: |access-date= (help)
↑ "Nationalization of Banks".
↑ "Criteria set for the new private sector banks" (PDF).

Banking in India

Reserve bank	Reserve Bank of India

Public sector banks	Allahabad Bank Andhra Bank Bank of Baroda Bank of India Bank of Maharashtra Bharatiya Mahila Bank Canara Bank Central Bank of India Corporation Bank Dena Bank IDBI Bank Indian Bank Indian Overseas Bank Oriental Bank of Commerce Post Bank of India Punjab & Sind Bank Punjab National Bank State Bank of Bikaner & Jaipur State Bank of Hyderabad State Bank of India State Bank of Mysore State Bank of Patiala State Bank of Travancore Syndicate Bank UCO Bank Union Bank of India United Bank of India Vijaya Bank

Private sector banks	Axis Bank Bandhan Bank Catholic Syrian Bank City Union Bank DCB Bank Dhanlaxmi Bank Federal Bank HDFC Bank ICICI Bank IDFC Bank IndusInd Bank Jammu & Kashmir Bank Karnataka Bank Karur Vysya Bank Kotak Mahindra Bank Lakshmi Vilas Bank Nainital Bank RBL Bank (Ratnakar Bank) South Indian Bank Tamilnad Mercantile Bank Limited Yes Bank

Cooperative banks	Buldhana Urban Cosmos Bank Repco Bank Saraswat Bank Shamrao Vithal Co-op. Bank TNSC Bank Rajkot Nagrik Sahakari Bank

Foreign banks	ABN AMRO Abu Dhabi Commercial Bank Antwerp Diamond Bank Australia and New Zealand Banking Group Bank Internasional Indonesia Bank of America Bank of Bahrain and Kuwait Bank of Ceylon The Bank of Tokyo-Mitsubishi UFJ Barclays Citibank India Credit Suisse Deutsche Bank HSBC The Royal Bank of Scotland Scotiabank Standard Chartered

Regional Rural Banks	Andhra Pragathi Grameena Bank Kerala Gramin Bank Bangiya Gramin Vikash Bank Gramin Bank of Aryavart North Malabar Gramin Bank Pallavan Grama Bank Pandyan Grama Bank Paschim Banga Gramin Bank Sarva UP Gramin Bank South Malabar Gramin Bank Uttar Bihar Gramin Bank Vananchal Gramin Bank List of regional rural banks in Uttar Pradesh

Interbank networks	BANCS Cashnet Cirrus IMPS UPI MITR NFS PLUS RuPay

Defunct banks	Alliance Bank of Simla Arbuthnot & Co Bank of Bombay Bank of Calcutta Bank of Chettinad Bank of Cochin Bank of Hindostan Bank of Madras Bank of Madura Bank of Rajasthan Bank of Thanjavur Bareilley Corporation Bank Bengal Central Bank Bharat Overseas Bank Centurion Bank of Punjab Chartered Bank of India, Australia and China Commercial Bank of India Dass Bank Exchange Bank of India & Africa Global Trust Bank Grindlays Bank Hindustan Commercial Bank Imperial Bank of India ING Vysya Bank Lakshmi Commercial Bank Lord Krishna Bank Madhavpura Mercantile Cooperative Bank Mercantile Bank of India, London and China Miraj State Bank Nath Bank Nedungadi Bank New Bank of India Oriental Bank Corporation Oudh Commercial Bank Palai Central Bank Pandyan Bank Sikkim Bank State Bank of Indore State Bank of Saurashtra Times Bank United Industrial Bank United Western Bank

Related topics	Banks Board Bureau Banking Codes and Standards Board of India ATM usage fees in India De-Materialisation (DEMAT) Foreign Exchange (FOREX) Indian Financial System Code (IFSC) List of banks in India National Electronic Fund Transfer (NEFT) National Payments Corporation of India Real Time Gross Settlement (RTGS) Structured Financial Messaging System (SFMS) Prepaid Payment Instruments in India

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