Private-sector banks in India
The private sector banks in India are banks where the majority of the shares or equity are not held by the government but by private share holders.[1][2]
In 1969 all major banks were nationalised by the Indian government. However, since a change in government policy in the 1990s, old and new private sector banks have re-emerged. 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 nationalisation in 1968 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 change of policy in the 1990s.
The Nedungadi Bank was the first private sector bank in India, founded in 1899 by Rao Bahadur T.M. Appu Nedungadi in Kozhikode, Kerala.
Private-sector banks established before 1968[edit]
| Name | Year Established | |
|---|---|---|
| City Union Bank | 1904 | |
| Karur Vysya Bank | 1916 | |
| CSB Bank | 1920 | |
| Tamilnad Mercantile Bank | 1921 | |
| Nainital Bank (Wholly owned subsidiary of Bank Of Baroda) | 1922 | |
| Karnataka Bank | 1924 | |
| Lakshmi Vilas Bank | 1926 | |
| Dhanlaxmi Bank | 1927 | |
| South Indian Bank | 1929 | |
| DCB Bank | 1930 | |
| Federal Bank | 1931 | |
| Jammu and Kashmir Bank | 1938 | |
| RBL Bank | 1943 | |
| IDBI Bank | 1964 |
