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Private Banks

The private banks in India refer to those banks of banking sector that are constituted of both public sector and private sector banks. However, a bigger portion of share resides with private shareholders instead of the government. After Liberalization, private banks gained immense popularity because of incorporating advance technologies, innovative policies and monetary tools.

There is a good number of Private Banks which are operating in India. Following is a list of major private banks in India:--

Axis Bank
Federal Bank
ING Vysya Bank
• Karur Vysya Bank
Yes Bank
Kotak Mahindra Bank
Induslnd Bank
Dhanalakshmi Bank

Private banks have brought new innovations to the banking sector in India. Following are some of the services being offered by private banks operating in India:-

• Multi-city cheque facility
• PAP (Payable at Par) cheque facility
• Anywhere banking facility
• Mobile banking facility
• Net banking facility
• Trade services
• Credit Card facility
• Debit/ATM card facility
Apart from these services, private banks offer loans for housing, vehicle, business or personal needs. Moreover, private banks also provide insurance policies that cover nearly all life aspects.