Private Banks In India | Private Banks List | Private Banks Near Me

Private banks In India | List of Private banks in India

Private Banks In India are Important Pillar in Economy growth. The Indian Banking Sector is Consist of Public and Private sector banks in India.Both Play Vital role to Boost up the economy. The Reserve Bank of India (RBI) is the authority who take care and manage entire banking sector and work under Finance Ministry of India. Private sector banks are always known for leisure banking as well as quality services, Charges of Private Banks In India May be higher if you compare with  Public Sector banks, But if you talk about services offered by a Private bank in India, You can analyze how differ they are from any other public sector or nationalised bank in India. We will Cover List of Private banks in India along with Foreign Private banks in India.

An individual or a entity or a joint Partner can avail service by opening a account in any private banks Near you. Even searching a branch of any private bank is quite easy too you just need to open your browser and search “ Private Banks Near me“, Your search engine will deliver the Best Private banks near your radius.

Private banks in India are as important as Public sector banks to Maintain Economy Functioning as well keeping Citizens money safe, Its among one of the most pillar not only In terms of finance but also as a service industry also.

What is Private bank

Private banks in India consist of those banks which are not nationalised or doesn’t have Government of India shareholdings, Private Banks are institutions or companies which are owned by either an individual or a joint partner by maintaining the minimum wealth requirement by  monetary authority of India.

Now !! Can we Imagine our economy without Private banks in India ?

No, obviously  The no queue Culture firstly introduced by ICICI Bank, Which is to Provide Hessle free Banking services to all the prioritize customers later was accepted by all the banks in India. Best Private banks always consider Their customer comfort rather a Hectic Experience.

Apart from this almost all Best Private Banks Try to Help local community too, I.e if you compare Private bank Careers with Public sector banks Careers You will find More Salary is Given to Employees who Join Private banks Job. Private Banks Jobs notifications are out various times in a year as Per their Human Resource.  Private Bank Careers & Jobs as similar as Public Sector Bank.

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What Is Difference Between Public and Private Sector Banks

Before we proceed to our main content, we have to understand what is the difference between a Public sector bank, and a private sector bank. The difference between banks can be defined as the stack holding or we say depends on who holds majority of Shares in Bank.

The banks which has more than 50% of shares in government  hands are called as Government banks / Public sector banks /nationalized banks, Where as The bank or an institution or an organization or an individuals hold more than 50% of shares in hands Known as Private Banks or an Private entity.

There are various examples which can help you to understand What is difference between public sector and private sector banks

• Lets Talk about 2 major Banks in india

1.  State banks of India – The majority of shares holding is with government, More than 58% of shares in State bank of India is hold by the Government of India
2. ICICI Bank – The majority of shares holding is with the Board of directors or company

Types of Private banks in India

Private banking is consist of two types of private banks

1. Indian Private banks
2. Foreign banks

The difference between Indian Private banks and foreign Private banks  is The origination of bank is from India or the origination of bank  is from out of India. Foreign Private banks has to follow rules and regulations of   Host country as well as parent country. In India Foreign private banks are working as branch or representative offices.

Total number of private banks in India

Everyone who Eager to grab information about Private sector banks in India also wants to know “How many private banks in India“, What are the total Number of private banks in India. We will share the answer today !!

There are total 21 Private sector banks in India which contribute in Indian Economy. As we have already discussed about Globalization As per data Available 12 private banks were formed before 1991 and were formed after 1991. Here is the list of Private banks as per their Foundation Years.

Read here : How many Private Sector Banks In India

 

Services Offered By Private banks in India

Private banks in India offered almost same services as public sector banks offered, The Major Changes in private banking is to give freedom to their customer to make transactions from anywhere in the world, where as in the case of public sector banks the Importance of branches are still exist. Here is the list of service offered by Private sector banks in India. Basically There Are Two Types of Services Majorly Offered by Private Banks in World. Mobile apps launched by banks had made banking more easy to their customer

1. Retail Banking
2. Corporate Banking

Retail Banking Consist of the services which are Dealing with or Useful for An Individual or non Business Accounts . These Private Banks Services Can be Avail in the form of

• Personal Banking
• Business Banking
• International Banking

Retail Banking is Basically a Bundle of services Which are useful for Consumers, The Direct Interaction of Consumer Be With Nearby Bank Branch Rather Corporate Office. Personal Accounts, Chaque,Demand Drafts, E Banking all Are the Major Services

2. Corporate Banking

The Major Part of these Banking Services For Big Corporate houses or Big Marketers who Invest or transact Hugh amount.The Major Services Of Corporate banking are

• Investment
• Wealth Management
• Reconciliation
• Tax Payment
• Depository Services
• Mortgage and loan
• Stock brokerage
• Treasury and cash management
• Equipment lending
• Trade Finance
• Employer Services

List of Private Banks In India

List of Foreign Private Banks In India

 

Local Area Private Banks In India

 

Small Finance Banks In India

Payment Banks In India

 

Advantages Of Private Sector Banks