Top 10 Private Banks in India

Although the concept of saving money is run for hundreds of years. Indian desperately believes in the power of savings and how your savings help you in your troubles and future.

Banks are the key element that can help to improve the economy of a country. Having a banks account is almost important and similar, to having a home.

The History of the Indian Banking System

The concept of the bank in India has introduced first in the last decade of the 18^th Century. All the banks in India either public Sector banks or private banks are regulated by the Reserve Bank of India. RBI is the supreme authority bank in India. All the rights of banks are reserved and come under by Reserve Bank of India (RBI).

In earlier times, there was the monopoly of Public Sector Banks. The majority of people had more trust over public banks which is also true for some reasons and some people. But in the late 19^th century when private banks have come into the picture, so these banks have grown exponentially.

The main reason behind this growth is the innovation, customer's friendly environment, their most convenient services, using new tools, and understanding the basic psyche of Indian customers.

Top 10 of Private Banks in India

At present, there are total of 21 private banks in India. However, we are going to dive into the list of top 10 private banks in India and study each bank in detail:

HDFC BANK

HDFC Bank is the most leading private bank in private sector banks. HDFC is the abbreviated form of Housing Development Finance Corporation Limited. It was established in the year 1994. This bank is trusted by around 50 million people.

It is the first bank to receive RBI's "in-principle license" to open a bank in the private sector following RBI's liberalization of the Indian money market in 1994.

HDFC is one of the best-performing banks, and it ranks among the world's top 100 most important brands. They grant a huge assortment of money-related items and administrations that incorporates discounts & retail managing an account, all types of credits, treasury, and credit cards to its clients.

Headquarters: Mumbai, Maharashtra

Year of Establishment: 1994

Number of Branches: 5,430

Revenue: 105,161 Cr

ICICI BANK

ICICI has the second position in the most leading private sector bank. The bank was founded in the year 1994. Initially, when the bank was established, its name was Industrial Credit and Investment Corporation of India. After a few years, the bank is known as ICICI Bank.

ICICI has a giant network of branches and ATMs across the nation. They render a broad run of budgetary items and administrations, insurance, protections, investment funds & current accounts, fixed deposits, several types of loans, and Credit Cards.

They create work for more than 85000 individuals within the nation. ICICI bank offers administrations to the clients through a few conveyance channels and its bunch of companies.

Headquarters: Mumbai, Maharashtra

Year of Establishment: 1994

Number of Branches: 5,288

Revenue: 84,353 Cr

Axis Bank

Axis Bank is the premier bank for the new generation. In India, Axis Bank is the third-largest bank in the private sector.

They offer in India, such as corporate loaning, syndication, exchange fund, speculation managing an account, and obligation businesses.

This Bank has worldwide workplaces in 11 nations: Singapore, Shanghai, Hong Kong, Singapore, Dubai, Colombo, and Blessing City-IBU. Axis Bank was also successfully established and has workplaces in Abu Dhabi, Sharjah, Dubai, Dhaka, and London, UK also.

Headquarters: Mumbai, Maharashtra

Year of Establishment: 1993

Number of Branches: 4528

Revenue: 56,044 C

Kotak Mahindra Bank Ltd.

It has ended up one of the foremost prevalent banks in India. It has begun in 1985 as Kotak Mahindra Fund Ltd, but afterward, it changed to Bank in 2003.

The bank got the license from RBI. So after that India's first finance company have converted into a private bank.

They are divided into four groups: Corporate Keeping Money, Buyer Managing an Account, Commercial Managing an Account and Treasury. These units service retail and corporate divisions in both rural and metropolitan areas around the country.

It is today one of the most well-known banks. It provides services in many ways such as investment banking, personal finance, loans, life insurance, and insurance services.

Headquarters: Mumbai, Maharashtra

Year of Establishment: 2003

Number of Branches: 1500

Revenue: 31,346 Cr

IDBI Bank

It may be a full-service widespread bank that gives a colossal run of money-related administrations to its clients. A few of the major administrations that they offer are stores, advances, installment administrations, and speculation arrangements.

They get it the customer's needs beautiful well and guarantee to convey surprising budgetary arrangements and great client services. In this fast-paced environment, the bank is coming with innovations and new schemes. They are constantly upgrading according to the need of the market.

IDBI Bank can give a one-of-a-kind extend of advanced administrations that would go well with their pan-India arrange of branches and ATMs.

They have their client support available 24*7 so that on the off chance that you confront any issue or inconvenience, you'll get offered assistance instantly. IDBI Bank offers a ideal combination of advancement, security, and comfort in all exchanges and services.

Headquarters: Mumbai, Maharashtra

Year of Establishment: 1964

Number of Branches: 2095

Revenue: 24,504 crores

YES Bank

It is the bank that is growing exponentially because the bank is constantly evolving and working to serve customers. They are working difficult on the mission of getting to be the finest quality biggest bank in India.

Presently, they have gotten to be a "Full-Service Commercial Bank" that indeed other banks see up to it.

The major goal of this bank is to serve customers. YES Bank is a service-driven and customer-centric Bank. These two features will raise this bank as a top leading private bank of India in the coming years.

Yes, Bank offers a wide run of items and administrations such as venture managing an account, corporate fund, department managing an account, etc., to retail clients, MSME, and corporate.

They have a presence in 28 states and nine union regions in India, as well as an agent office in Abu Dhabi and an IBU and Blessing city. Over 18,000 people do business with bank across the country.

Headquarters: Mumbai

Year of Establishment: 2004

Number of Branches: 1000

Revenue: 10,769 crores

IDFC First Bank

After you make the list of private banks in India, the title of IDFC To begin with Bank ought to be included without a miss. The reason why its client base is expanding is since of its run of dazzling keeping money products.

Initially, IDFC was set up in 1997 for a financing foundation, and their prime center was on extending the back and mobilization of Capital for the improvement of private-sector foundations.

In 2005, they extended the trade, and afterward, in 2013, they connected for a bank permit to the RBI. They got consent in 2014, and as of late in 2015, they opened IDFC, To begin with Bank. At that point in 2018, it merged with Capital, To begin with, which may be a retail resource franchise.

They have been within the showcase for an awfully small time, however, they have a great client base of 70 lakh individuals, and the finest portion is that 30 lakh individuals are from rustic regions. IDFC To begin with Bank's headquarter is in Mumbai. They have a pan-India organized of 260 branches and 140 ATMs.

They also provide plenty of other services like retail customers, corporate and small businesses.

Headquarter: Mumbai, Maharashtra

Year of Establishment: 1997

Number of Branches: 279

Revenue: 9,098 Cr

Customer Base: 4 million live customers

IndusInd Bank

This is one of India's best private banks. They preserved the name 'Induslnd' because they were influenced by the Indus Valley Civilization which was the world's finest ancient civilization.

Induslnd bank provides excellent customer service and ensures that all of its customers are entirely satisfied.

It's a new generation bank that was founded in 1994 and has a large banking presence. Loans, deposits, accounts, microfinance, insurance, and investments are just a few of the services, they provide.

It has a large network of over 5000 distribution points, over 2000 bank branches, and 2606 ATMs. It has expanded smoothly and dynamically over the last several years. They work hard to deliver banking services that are on par with its consumers.

Now only in India, it has spread all over the world. Induslnd Bank has many international workplaces such as Dubai, Abu Dhabi, UAE, and London, also. The bank has employed more than 25,000 people.

Headquarters: Pune, Maharashtra

Year of Establishment: 1994

Total Branches: 2000

Customer Base: 8 crores

Revenue: 36,002 Crores

Bandhan Bank

Chandra Shekhar Ghosh was the founder of Bandhan Bank. Bandhan Bank began operations on August 23, 2015. After its parent firm, Bandhan Financial Services Limited (BFSL), transferred the bank's entire microfinance business to it and the bank began normal banking operations at the same time.

They regard all their clients similarly, whether they are people, corporate or large companies. Their managing an account arrangements are marvelous, and they offer budgetary administrations within the frame of resource & obligation and items & administrations.

A few of the essential administrations they offer to its clients are managing an account administration, microfinance, MSME, and reasonable lodging fund to urban, semi-urban, and rustic customers.

Headquarters: Kolkata, West Bengal

Year of Establishment: 2015

Number of Branches: 1147

Custom Base: 2.43 crores

Revenue: 7,208 Cr

J&K Bank

It could be a all-inclusive bank in Jammu & Kashmir and Laddakh and could be a specialized bank within the rest of the nation. Typically moreover a lovely ancient bank that was set up back in 1938. They are headquartered in Srinagar, Jammu, and Kashmir.

They are moreover recognized as the operator for RBI for preparing trade and carrying out keeping money commerce prerequisites of Jammu & Kashmir and Ladakh, additionally, they to collect central taxes for CBDT.

Their commerce demonstrates is beautiful diverse from other banks as they work on the two-legged business show, wherein they attempt and increment loaning within the domestic region and look to capture specialty loaning openings on a pan-India basis.

J&K bank encompasses an add up to 1038 branches and 1340 ATMs across the nation. They work on the guideline of "socially enabling banking" and long to convey fabulous monetary administrations for little and medium endeavors furthermore for retail clients as well.

Headquarters: Srinagar, Jammu and Kashmir

Year of Establishment: 1938

Branches: 1038

Revenue: 8,830.08 crores