In the big countries like India, there are several banks operating into different categories. Each type or category of bank has its own functionalities and operations. In India, there are several private banks and nationalized banks are running for people’s bank related activities. The RBI (Reserve Bank of India) has the highest banking regulator authority in India which regulates the monetary policies in India. In this article, you’ll have the complete list of private banks India in 2021.
In this post, you’ll get answers for what is a private bank and list of private banks in India? How many branches does each private bank have?
Private Sector Banks in India
In private sector banks, the majority of the stake is maintained and managed by the private individuals. The top examples of private sector banks in India are HDFC Bank, IndusInd Bank, Axis Bank, ICICI Bank, etc.
Indian private sector banks are divided into two types. Those are,
- Old Private Sector Banks which emerged before 1968.
- New Private Sector Banks that emerged after 1968
The new private sector banks are bigger in size compared to the old private sector banks. You’ll read the current list of private banks India in 2021.
How many private banks are running in India?
Currently, there are 22 private banks in India operating and here is the complete list of private bank names in India.
List of Private Banks India in 2021
Below is the current private bank name list in India. We have collected this information from many sources on the internet.
|List of Private Banks||Established Year||Number of Branches||Number of ATMs||Headquarter|
|Bandhan Bank||2015||1000||485||Kolkata, West Bengal|
|Catholic Syrian Bank||1920||426||290||Thrissur, Kerala|
|City Union Bank||1904||600||1724||Thanjavur, Tamil Nadu|
|DCB Bank||1930||323||4,99||Mumbai, Maharashtra|
|Dhanlaxmi Bank||1927||269||3,46||Thrissur, Kerala|
|Federal Bank||1931||1252||1598||Aluva, Kerala|
|HDFC Bank||1994||4787||13514||Mumbai, Maharashtra|
|ICICI Bank||1994||4882||15159||Mumbai, Maharashtra|
|IDBI Bank||1964||1892||3693||Mumbai, Maharashtra|
|IDFC First Bank||2015||301||216||Mumbai, Maharashtra|
|IndusInd Bank||1994||1004||2662||Mumbai, Maharashtra|
|Jammu & Kashmir Bank||1938||958||1322||Srinagar, Jammu and Kashmir|
|Karnataka Bank||1924||835||1503||Mangaluru, Karnataka|
|Karur Vysya Bank||1916||668||1641||Karur, Tamil Nadu|
|Kotak Mahindra Bank||2003||1369||2429||Mumbai, Maharashtra|
|Lakshmi Vilas Bank||1926||570||1045||Chennai, Tamil Nadu|
|Nainital Bank||1922||135||–||Nainital, Uttarakhand|
|RBL Bank||1943||342||–||Mumbai, Maharashtra|
|South Indian Bank||1929||852||1393||Thrissur, Kerala|
|Tamilnad Mercantile||1921||509||1156||Thoothukudi, Tamil Nadu|
|Yes Bank||2004||1050||1305||Mumbai, Maharashtra|
Categories of Banks in India
Indian banks are divided into four categories and they are listed below:
- Commercial Banks
- Small Finance Banks
- Payment Banks
- Co-operative Banks
1. Commercial Banks in India
The commercial banks in India are categorized into four types. Those are,
- Private Sector Banks
- Public Sector Banks
- Regional Rural Banks (RRB)
- Foreign Banks
2. Small Finance Banks in India
Small finance banks are called “niche banks” with basic banking services. This primary objective of this bank is to provide financial inclusion to the society (that are not served by other banks. These type of banks are controlled and maintained by the “National Government of the country”.
Small Finance Banks List
1. Au Small Finance Bank Ltd.
2. Capital Small Finance Bank Ltd
3. Fincare Small Finance Bank Ltd.
4. Equitas Small Finance Bank Ltd
5. ESAF Small Finance Bank Ltd.
6. Suryoday Small Finance Bank Ltd.
7. Ujjivan Small Finance Bank Ltd.
8. Utkarsh Small Finance Bank Ltd.
9. North East Small Finance Bank Ltd
10. Jana Small Finance Bank Ltd.
3. Payments Bank in India
The Payments bank is a new type or category of banks in the Indian Banking industry. These banks are allowed to operate on a smaller scale without credit risk. Payment banks are allowed to accept a nominal deposit of Rs.1 lakh per customer.
List of Payments Banks in India
Currently, below is the list of Payments Banks in India.
1. Airtel Payments Bank Ltd
2. India Post Payments Bank Ltd
3. FINO Payments Bank Ltd
4. Paytm Payments Bank Ltd
5. Jio Payments Bank Ltd
6. NSDL Payments Bank Limited
4. Co-operative Banks in India
The Co-operative banks in India are financial entities and those are established on a co-operative basis. Cooperative banks are operated by a committee.
Cooperative banks in India work on a no-profit no-loss basis. These types of banks are providing a wide range of regular banking and financial services. The main aim of Cooperative banking is to offer savings and investment habits among people in rural parts of India.
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Final Thoughts on List of Private Banks India
I hope you’ll surely benefit with this list of private banks in India in 2021. Thanks for reading and please share this post.
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