Banking system in an economy acts as the strongest financial pillar. The Indian banking systems have made it possible for the Indian economy to be the largest economy in the world. In order for the customers to trust their bank, it is important for the banks to make the process as transparent as possible. In India, you can open a savings account at any bank and can avail the financial services that are being offered by the bank. Whereas the banks, on the other hand, try to improve their services to make it better for their customers. HDFC is the largest private bank in the country and is also one of the oldest banks present in the country. However, selecting a bank to open a new savings bank account can be difficult for a number of reasons. Here is a Private Bank List in India to make it easy for you to select the perfect bank for you to open a savings account or to avail any other financial service.
List of Banks in India
Here is a list of few of the many private banks that are available throughout the country for you to choose from. The list of private banks is as follows:
HDFC Bank
HDFC is one of the oldest banks in the country and by looking at the asset valuation of this bank, it is clearly the largest private sector bank throughout the country. HDFC was incorporated in the year 1994, in Mumbai, Maharashtra. Over a span of many years, the bank witnessed various mergers and acquisitions and today is the largest bank in the country. HDFC is also one of the largest employment providers in India for the amount of offices that it has in the country.
ICICI Bank
ICICI is the second largest bank in the country. Established in 1995, ICICI is also one of the oldest banks present today in India. ICICI is regarded as the best bank on the basis of customer support and for the kind of services that it provides to its customers. Started in Vadodara, Gujarat ICICI bank today has numerous branches across the country. The bank offers various services to its customers from corporate banking to retail banking along with providing loans and advances to its customers.
IDBI Bank
IDBI was also established in the year 1964, and is amongst the oldest banks present today in the Indian market. IDBI Bank was initially launched with the aim of assisting industries that require long term loans from the market. The bank catered to the needs of businesses that required capital loans or long term loans for the business. In 2006, the Western Union Bank was merged with IDBI bank which is the only merger that this bank witnessed in several years.
YES Bank
Ashok Kapur and Rana Kapoor incorporated YES Bank in 2004. Since the very beginning, YES bank was one of the finest private label banks in the country for the kind of services that it provided. YES bank gained a lot of popularity when it was recently featured in the national news that it was about to collapse. RBI took control of the bank and it again gained people’s trust. YES bank has also received government funding worth INR 1000 crore. The funding has been provided to the bank for the bank’s proposed food processing projects.Above mentioned are some of the private label banks present in India today. Apart from availing the bank’s services you can open a savings account in any of the given banks. Moreover, you can deposit money and earn Interest on Savings Account in any of these banks.
