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 stake 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.
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
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 | 1905 |
| 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. abc and evergreen Bank | 1965 |
| 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.
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 |
| 6. ICICI Bank (previously ICICI and then both merged;total merger SCICI+ICICI+ICICI Bank Ltd) | 1996 |
| 7. IndusInd Bank | 1994 |
| 8. Kotak Mahindra Bank | 2003 |
| 9. Yes Bank | 2005 |
| 10. Times Bank (Merged with HDFC Bank Ltd.) | Unknown |
| 11. Global Trust Bank (India) (Merged with Oriental Bank of Commerce) | Unknown |
| 12. Balaji Corporation Bank Limited | 2010 |
| 13. HDFC bank | 1994 |
| 14. Bandhan bank | 2015 |
| 15. IDFC bank | 2015 |
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