Private Sector Banks
The private-sector banks in India represent part of the Indian banking sector that is made up of private and public sector banks. The “private-sector banks” are banks where greater parts of share or equity are not held by the government but by private share holders.
The private sector banks are split into two groups by financial regulators in India, old and new. The old private sector banks existed prior to the nationalisation in 1969 and kept their independence because they were either too small or specialist to be included in nationalisation. The new private sector banks are those that have gained their banking license since the liberalisation in the 1990s.
The Nedungadi Bank was the first private sector bank in India which was founded in 1899 by Rao Bahadur T.M. (Thalakodi Madathil) Appu Nedungadi in Kozhikode, Kerala.