Private sector banks are those banks that are owned privately by individuals and work like a cooperate under the management of a private board.
In government banks, the government directly controls the board of the banks as the majority of the stakes of the bank are with the Government.
But both Government or Private Banks work on the guidelines provided by the Reserve Bank of India.
In India, there are a total of 21 private banks. In this article, we will discuss a list of private-sector banks in India.
Table of Contents
List of Private Sector Banks in India
The following is the list of private sector banks in India-
Axis Bank Ltd.
Formerly known as UTI Bank, Axis Bank started its operations in the year 1993 and later in 2008 changed its name to Axis Bank to appeal to international Banking clients. The bank has many subsidiaries as well.
Bank Name- Axis Bank
Website-www.axisbank.com
Established- 2008
Headquarters- Mumbai, Maharashtra
Branches- 4,594
Total Assets- ₹1,010,325 Crores (US$130 billion)
Revenues- ₹80,847 Crores (US$10 billion)
Bandhan Bank Ltd.
Bandhan Bank is a private-sector bank that provides all banking-related services. It was established as a non-profit in the year 2001. In 2015, Bandhan Bank got its license from the RBI to become a universal Bank.
Bank Name- Bandhan Bank
Established- 2015
Headquarters- Kolkata, West Bengal
Branches- 1,147
Total Assets- ₹114,993 Crores (US$14 billion)
Revenues- ₹14,633 Crores (US$1.8 billion)
CSB Bank Limited
CSB Bank or Catholic Syrian bank is an Indian bank established in the year 1920 and had a great presence in Maharashtra, Tamil Nadu, Kerala, and Karnataka with 500+ branches and 290+ ATMs.
Bank Name- CSB Bank
Established- 1920
Headquarters- Thrissur, Kerala
Branches- 512
Total Assets- ₹23,337 Crores (US$2.9 billion)
Revenues- ₹2,273 Crores (US$280 million)
City Union Bank Ltd.
City Union Bank earlier known as Kumbakonam Bank Limited established in the year 1904. It has grown ever since and has 700+ branches and 1700+ ATMs in the country.
Bank Name- City Union Bank
Established- 1904
Headquarters- Kumbakonam, Tamil Nadu
Branches- 702
Total Assets- ₹53,311 Crores (US$6.7 billion)
Revenues- ₹4,839 Crores (US$610 million)
DCB Bank Ltd.
DCB Bank or Development Co-operative Bank is a bank headquartered in Mumbai with 400+ branches. It is a publicly listed company offering its share to the investor. It was established in the year 1930.
Bank Name- DCB Bank
Established- 1930
Headquarters- Mumbai, Maharashtra
Branches- 352
Total Assets- ₹39,602 Crores (US$5.0 billion)
Revenues- ₹3,916 Crores (US$490 million)
Dhanlaxmi Bank Ltd.
Dhanalaxmi Bank is an Indian bank headquartered in Kerala state. It was established in the year 1927 and the bank has grown ever since. The bank has a sizable presence in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat, Delhi, West Bengal, Madhya Pradesh, Punjab, Uttar Pradesh, Rajasthan, Chandigarh, and Haryana.
Bank Name- Dhanlaxmi Bank
Established- 1927
Headquarters- Thrissur, Kerala
Branches- 245
Total Assets- ₹13,096 Crores (US$1.6 billion)
Revenues- ₹1,072 Crores (US$130 million)
Federal Bank Ltd.
Federal Bank earlier known as Travancore Federal Bank Limited is a private Indian bank established in the year 1931. The bank has 1000+ branches across the country.
Bank Name- Federal Bank
Established- 1931
Headquarters- Kochi, Kerala
Branches- 1272
Total Assets- ₹204,966 Crores (US$26 billion)
Revenues- ₹15,702 Crores (US$2.0 billion)
HDFC Bank Ltd
HDFC Bank or Housing Development Finance Corporation Bank is a subsidiary of Housing Development Finance Corporation which was established in the year 1994 and has grown to become one of the biggest private sector banks in India with 6378 branches.
Bank Name- HDFC Bank
Established- 1994
Headquarters- Mumbai, Maharashtra
Branches- 5608
Total Assets- ₹1,799,506 Crores (US$230 billion)
Revenues- ₹155,855 Crores (US$20 billion)
ICICI Bank Ltd.
ICICI Bank or Industrial Credit and Investment Corporation Bank is a private sector bank incorporated in the year 1994 after the LPG reforms by the Indian Government.
Bank Name- ICICI Bank
Established- 1994
Headquarters- Vadodara, Gujarat
Branches- 5266
Total Assets- ₹1,573,812 Crores (US$200 billion)
Revenues- ₹161,336 Crores (US$20 billion)
IndusInd Bank Ltd
Induslnd Bank is one of the first-generation Private sector banks in India. It was started by the S.P. Hinduja with the primary objective to serve the NRI Community with banking services.
Bank Name- IndusInd Bank
Established- 1994
Headquarters- Mumbai, Maharashtra
Branches- 2015
Total Assets- ₹362,903 Crores (US$45 billion)
Revenues- ₹28,999 Crores (US$3.6 billion)
IDFC FIRST Bank Limited
IDFC First bank is a private sector bank established in the year 2015 after RBI approved the universal bank license of IDFC Bank. In 2018, IDFC Bank and Capital First announced a merger which resulted in the formation of IDFC First Bank.
Bank Name- Axis Bank
Established- 2015
Headquarters- Mumbai, Maharashtra
Branches- 596
Total Assets- ₹163,071 Crores (US$20 billion)
Revenues- ₹18,221 Crores (US$2.3 billion)
Jammu & Kashmir Bank Ltd.
Jammu and Kashmir Bank is the oldest private sector bank with central public sector undertaking. Although the bank is a private sector bank it is also owned by the Ministry of Finance, Government of India.
Bank Name- Jammu & Kashmir Bank
Established- 1938
Headquarters- Srinagar, Jammu, and Kashmir
Branches- 957
Total Assets- ₹82,018 Crores (US$10 billion)
Revenues- ₹7,166 Crores (US$900 million)
Karnataka Bank Ltd.
Karnataka Bank is a private-sector bank established in the year 1924. Currently, the bank has 800+ branches and 800+ ATMs.
Bank Name- Karnataka Bank
Established- 1924
Headquarters- Mangaluru, Karnataka
Branches- 890
Total Assets- ₹85,580 Crores (US$11 billion)
Revenues- ₹6,232 Crores (US$780 million)
Karur Vysya Bank Ltd.
Karur Vysya Bank is an Indian Private sector bank established in the year 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
Bank Name- Karur Vysya Bank
Established- 1916
Headquarters- Karur, Tamil Nadu
Branches- 811
Total Assets- ₹74,623 Crores (US$9.3 billion)
Revenues- ₹5,470 Crores (US$690 million)
Kotak Mahindra Bank Ltd
Kotak Mahindra Bank was started as Kotak Capital Management Finance by Uday Kotak and Further investment of Rs.1 Lakh was invested by Anand Mahindra and his father Harish Mahindra in 1986 to form Kotak Mahindra Capital Management. In 2003, Kotak Mahindra Capital Management Finance received a banking license and formed Kotak Mahindra Bank.
Bank Name- Axis Bank
Established- 2003
Headquarters- Mumbai, Maharashtra
Branches- 1604
Total Assets- ₹478,872 Crores (US$60 billion)
Revenues- ₹478,872 Crores (US$60 billion)
Nainital bank Ltd.
Nainital Bank is a private sector bank owned by the Bank of Baroda India’s second-largest bank as its subsidiary. It was established in the year 1992.
Bank Name- Nainital bank
Established- 2008
Headquarters- Nainital, Uttarakhand
Branches- 160
Total Assets- ₹8,438 Crores (US$1.1 billion)
Revenues- ₹0,727 Crores (US$91 million)
RBL Bank Ltd.
RBL Bank was established in the year 1943 as Ratnakar Bank and in in 1974 received its banking license from the Reserve Bank of India. In August 2014, the bank changed its name to RBL Bank.
Bank Name- RBL Bank
Established- 1943
Headquarters- Mumbai, Maharashtra
Branches- 435
Total Assets- ₹100,618 Crores (US$13 billion)
Revenues- ₹8,561 Crores (US$1.1 billion)
South Indian Bank Ltd.
South Indian Bank is a major private sector bank in India with 900+ branches and 1200+ ATMs across India. It was established in the year 1928.
Bank Name- Axis Bank
Established- 1929
Headquarters- Thrissur, Kerala
Branches- 935
Total Assets- ₹94,149 Crores (US$12 billion)
Revenues- ₹7,305 Crores (US$910 million)
Tamilnad Mercantile Bank Ltd.
Tamilnad Mercantile Bank was established in the year 1921. Formally known as Nadar Bank is an Indian Private sector bank that is one of the fastest-growing banks in India.
Bank Name- Tamilnad Mercantile Bank
Established- 1921
Headquarters- Thoothukudi, Tamil Nadu
Branches- 509
Total Assets- ₹42,758 Crores (US$5.4 billion)
Revenues- ₹3,992 Crores (US$500 million)
YES Bank Ltd.
YES Bank is a private-sector bank headquartered in Mumbai. It was established in the year 1924 by Rana Kapoor and Ashok Kapur.
Bank Name- YES Bank
Established- 2004
Headquarters- Mumbai, Maharashtra
Branches- 1070
Total Assets- ₹273,593 Crores (US$34 billion)
Revenues- ₹20,039 Crores (US$2.5 billion)
IDBI Bank Limited
IDBI Bank was founded in the year 1964 under the Act of Parliament which was owned by the Reserve Bank of India. In 1976, the bank was handed over to the Central Government and IDBI Bank become a public sector bank. It was later purchased by the Life Insurance Corporation with 51% stakes.
Bank Name- IDBI Bank
Established- 1964
Headquarters- Mumbai, Maharashtra
Branches- 1884
Total Assets- ₹298,652 Croress (US$37 billion)
Revenues- ₹24,803 Crores (US$3.1 billion)
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