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Bank of Punjab
Bank of Rajasthan
Centurion Bank
Dhanalakshmi Bank
Federal Bank
HDFC Bank
ICICI Bank
IDBI Bank
Indusind Bank
ING Vyasya
Karnataka Bank
Uti Bank
Bank of Ceylon
Citi Bank
Deutsche Bank
Scotia Bank
Andhra Bank
Canara Bank
Corporation Bank
Syndicate Bank
During that time their was the Bank of Bengal, Banks of Bombay, and Bank of Madras all this formed the
Imperial Bank of India.
In the year of 1935 the reserve Bank of India was build and it became the center of all the other banks
taking away the imperial responsibilities that includes the transfer of commercial banking completely.
Whereby in 1955 the Imperial bank of India was renamed and transformed into the State Bank of India.
The private banks in India after the changes a lot of other Banks occurred in India on 19th July 1969. The
government of India had given out an ordinance and nationalized 14 big commercial banks that includes
Punjab National Banks, Allahabad Bank, Canara Bank, Central Bank of India among others, other public
Banks came up to take leading roles in the banking routine.
In the year 1994, the Reserve Bank of India handed out policy this policy was supposed to control the
number of private Banks that were coming up and weren’t taking care of the customers or the Indian
people in general. The policy was of liberation to license and limits the number of Private Banks which is
known as New Generation tech-sawy banks.
The global Trust Bank became the first private bank then later was unified with Oriental Banks of
Commerce. The Housing Development Finance Corporation Limited became the first and which still
exists to get a principle approval from the Reserve Bank of India as a Bank in the private sector.
Presently, Private Banks in India that continued giving out services to the Indian people includes banks
like ICICI Banks, ING Vyasya Bank, Jammu & Kashmir Bank, Karnataka Bank, Kotak Mahindra Bank, SBI
Commercial and International Bank, etc. they are tech-sawy and have expertise.
The private banks in India have a major role when it comes to serving the Indian people with their
savings since they made the banking services more efficient and customer friendly in that many Indians
now are safe to keep their savings without any doubt and on top of that they have make other bank to
be a competition.
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