Private sector banks in India form the most dynamic and fastest-growing segment of the banking industry — led by HDFC Bank, ICICI Bank, and Axis Bank in terms of size, with a growing number of small finance banks and payments banks serving underserved segments.
India currently has 21 scheduled private sector banks and 11 small finance banks. Details on private bank names, headquarters, established years, MD/CEOs, taglines, and parent organisations appear regularly in IBPS PO, SBI PO, RBI Grade B, NABARD, and Banking GK sections. This page gives you a complete, category-wise reference of all private sector banks in India with exam-ready facts for 2026.
⚡ Quick Facts
- HDFC Bank is India's largest private sector bank by assets and market cap — became the largest after merger with parent HDFC Ltd on July 1, 2023.
- ICICI Bank and Axis Bank are the 2nd and 3rd largest private sector banks respectively by total assets.
- India has 21 scheduled private sector banks — comprising old private sector banks (OPBs, pre-1993) and new private sector banks (NPBs, post-1993 liberalisation).
- Bandhan Bank and IDFC First Bank are the two most recently licensed full commercial private sector banks — both received universal bank licences from RBI in 2015.
- Yes Bank underwent dramatic collapse and RBI-orchestrated restructuring in March 2020 — SBI led the rescue, acquiring a 45% stake.
Do not confuse Axis Bank (formerly UTI Bank, renamed 2007) with ING Vysya Bank — ING Vysya was acquired by Kotak Mahindra Bank in 2015, not by Axis. Also: Bandhan Bank was the first MFI to become a universal commercial bank — not a small finance bank. Ujjivan, Equitas, and Jana became small finance banks, a different category. And: SFBs must lend 75% to priority sector (vs 40% for regular banks).
✅ My Progress Tracker
🏦 Complete Private Sector Banks in India List
| # ↕ | Bank ↕ | Tagline | HQ State ↕ | Est. ↕ | Parent / Origin | Key Exam Fact |
|---|---|---|---|---|---|---|
| 1 | HDFC Bank New Private | "We Understand Your World" | Mumbai, Maharashtra | 1994 | HDFC Ltd (housing finance) | Largest private bank; HDFC + HDFC Bank merged July 1, 2023; largest by market cap; MD: Sashidhar Jagdishan |
| 2 | ICICI Bank New Private | "Hum Hai Na" | Mumbai, Maharashtra | 1994 | ICICI Ltd (industrial credit) | 2nd largest private bank; full form: Industrial Credit and Investment Corporation of India; MD: Sandeep Bakhshi |
| 3 | Axis Bank New Private | "Badhte Jaao" | Mumbai, Maharashtra | 1994 (as UTI Bank) | UTI (Unit Trust of India) | 3rd largest private bank; originally UTI Bank; renamed Axis Bank in April 2007; MD: Amitabh Chaudhry |
| 4 | Kotak Mahindra Bank New Private | "Let's Make Money Simple" | Mumbai, Maharashtra | 2003 | Kotak Mahindra Finance Ltd | First bank licensed under new RBI norms (2003); acquired ING Vysya Bank (2015); founded by Uday Kotak; MD: Ashok Vaswani |
| 5 | IndusInd Bank New Private | "We Make You Feel Richer" | Mumbai, Maharashtra | 1994 | Hinduja Group (inspiration) | Named after Indus Valley civilisation; diversified financial services; MD: Rajiv Anand |
| 6 | Yes Bank New Private | "Experience Our Expertise" | Mumbai, Maharashtra | 2004 | Founded by Rana Kapoor & Ashok Kapur | Collapsed 2020 due to NPA accumulation; SBI-led rescue, 45% stake; Rana Kapoor arrested; stabilised under MD Prashant Kumar |
| 7 | IDFC FIRST Bank New Private | "Always You First" | Mumbai, Maharashtra | 2015 (IDFC Bank) | IDFC Ltd (infra finance) + Capital First | IDFC Bank + Capital First (NBFC) merged December 2018; one of two banks licensed in 2015; MD: V. Vaidyanathan |
| 8 | Bandhan Bank New Private | "Aapka Bhala, Sabki Bhalai" | Kolkata, West Bengal | 2015 (universal bank) | Bandhan Financial Services (microfinance) | First MFI to convert to universal commercial bank; one of two 2015 licences (with IDFC); MD: Partha Pratim Sengupta |
| 9 | Federal Bank Old Private | "Your Perfect Banking Partner" | Aluva, Kerala | 1931 | Formerly Travancore Federal Bank | Strong NRI banking; Kerala-based; formerly Travancore Federal Bank; MD: KVS Manian |
| 10 | South Indian Bank Old Private | "Experience Next Generation Banking" | Thrissur, Kerala | 1929 | Founded by Indian nationalists | One of oldest private banks in South India; MD: P.R. Seshadri |
| 11 | Karur Vysya Bank (KVB) Old Private | "Smart Way to Bank" | Karur, Tamil Nadu | 1916 | Vysya community origin | One of oldest private banks in India; Tamil Nadu-focused; MD: B. Ramesh Babu |
| 12 | Karnataka Bank Old Private | "Your Family Bank Across India" | Mangaluru, Karnataka | 1924 | Mangaluru-based institution | Headquartered in Mangaluru; serves South India and beyond; MD: Sekhar Rao |
| 13 | City Union Bank Old Private | "Trust and Excellence" | Kumbakonam, Tamil Nadu | 1904 | Kumbakonam-based institution | Oldest private sector bank in India (est. 1904); Tamil Nadu-based; MD: N. Kamakodi |
| 14 | Tamilnad Mercantile Bank (TMB) Old Private | "Taking Care of Your World" | Thoothukudi, Tamil Nadu | 1921 | Founded by Nadar community | Tamil Nadu community bank; Nadar community origin; MD: S. Krishnan |
| 15 | Dhanlaxmi Bank Old Private | "Tum Jiyo Hazaron Saal" | Thrissur, Kerala | 1927 | Kerala-based institution | Kerala-based private bank; Thrissur district origin; MD: J.K. Shivan |
| 16 | RBL Bank (Ratnakar Bank Ltd) Old Private | "Apno Ka Bank" | Mumbai, Maharashtra | 1943 | Transformed from regional cooperative-style bank | Transformed into modern national private bank in 2010s; MD: R. Subramaniakumar |
| 17 | CSB Bank (Catholic Syrian Bank) Old Private | "The Wise Banker's Bank" | Thrissur, Kerala | 1920 | Community bank; Fairfax India investor | One of oldest private banks; Fairfax India (Prem Watsa) holds ~50% stake; MD: Pralay Mondal |
| 18 | Nainital Bank Old Private | — | Nainital, Uttarakhand | 1922 | Subsidiary of Bank of Baroda | Subsidiary of Bank of Baroda; operates primarily in Uttarakhand |
| 19 | Jammu & Kashmir Bank Old Private | "Serving to Empower" | Srinagar, J&K | 1938 | J&K Government (partial owner) | Only bank partially owned by a state govt; operates under both RBI and J&K Govt norms; MD: Baldev Prakash |
| 20 | Lakshmi Vilas Bank (merged) Old Private | — (ceased) | Tamil Nadu | 1926 | Acquired by DBS Bank (Singapore) | Merged with DBS Bank India, November 2020 after RBI rescue; ceased to exist as independent bank |
| 21 | AU Small Finance Bank SFB | "Chalo Aur Aage Badhein" | Jaipur, Rajasthan | 2017 | AU Financiers (NBFC-MFI) | India's largest SFB by assets; Rajasthan-based; MD: Sanjay Agarwal |
| 22 | Equitas Small Finance Bank SFB | "It's Fun Banking" | Chennai, Tamil Nadu | 2016 | Equitas Holdings (NBFC) | India's 2nd largest SFB; Tamil Nadu-based; converted from NBFC; MD: Murali Vaidyanathan |
| 23 | Ujjivan Small Finance Bank SFB | "Build a Better Life" | Bengaluru, Karnataka | 2017 | Ujjivan Financial Services (MFI) | Strong MFI heritage; Karnataka-based; MD: Sanjeev Nautiyal |
| 24 | Jana Small Finance Bank SFB | "Khushiyon Ka Bank" | Bengaluru, Karnataka | 2018 | Janalakshmi Financial Services (MFI) | Converted from one of India's largest MFIs (Janalakshmi); MD: Ajay Kanwal |
| 25 | Suryoday Small Finance Bank SFB | "Jab Aap Badhtey Hain, Hum Badhtey Hain" | Navi Mumbai, Maharashtra | 2017 | Suryoday Micro Finance | West India focus; micro lending origin; MD: Baskar Babu Ramachandran |
| 26 | Capital Small Finance Bank SFB | "Aa Kehte Hain Aage Badhein" | Jalandhar, Punjab | 2016 | Capital Local Area Bank (LAB) | First local area bank to convert to SFB; Punjab-based; MD: Sarvjit Singh Samra |
| 27 | ESAF Small Finance Bank SFB | "Joy of Banking" | Thrissur, Kerala | 2017 | ESAF Microfinance (MFI) | Kerala-based; serves economically weaker sections; MD: K. Paul Thomas |
| 28 | Utkarsh Small Finance Bank SFB | "Aapke Sapno Ka Bank" | Varanasi, Uttar Pradesh | 2017 | Utkarsh Micro Finance (MFI) | UP and Bihar focus; Varanasi headquarters; MD: Govind Singh |
| 29 | North East Small Finance Bank SFB | "Banking for the Underserved" | Tezpur, Assam | 2017 | RGVN (North East) Microfinance | Serves Northeast India region; only SFB headquartered in Northeast; MD: Rupali Kalita |
| 30 | Shivalik Small Finance Bank SFB | "The Bank for You" | Saharanpur, Uttar Pradesh | 2021 | Shivalik Mercantile Cooperative Bank | First urban cooperative bank to convert to SFB; UP-based; MD: Suveer Kumar Gupta |
| 31 | Unity Small Finance Bank SFB | "Together We Grow" | Mumbai, Maharashtra | 2021 | Centrum Financial Services + BharatPe | Formed from PMC Bank crisis rescue; newest SFB; MD: Inderjit Camotra |
| 32 | Airtel Payments Bank Payments Bank | — | New Delhi | 2017 | Bharti Airtel (telecom) | Largest payments bank by customers; telecom-backed distribution |
| 33 | India Post Payments Bank (IPPB) Payments Bank | — | New Delhi | 2018 | Department of Posts, GoI | Government-backed; uses 1.5 lakh+ post office network across India |
| 34 | Fino Payments Bank Payments Bank | — | Mumbai, Maharashtra | 2017 | Fino PayTech | Listed on BSE/NSE (IPO 2021); fintech-backed payments bank |
| 35 | Jio Payments Bank Payments Bank | — | Mumbai, Maharashtra | 2018 | Reliance Industries / Jio | Reliance telecom ecosystem; JV with SBI |
| 36 | NSDL Payments Bank Payments Bank | — | Mumbai, Maharashtra | 2018 | National Securities Depository Ltd | Securities depository-backed payments bank |
| 37 | Paytm Payments Bank (cancelled) Payments Bank | — | Noida, Uttar Pradesh | 2017 | One97 Communications (Paytm) | RBI cancelled licence January 2024 due to compliance violations; ceased banking operations March 2024 |
| Category | Bank | Detail |
|---|---|---|
| Largest private bank (assets & market cap) | HDFC Bank | Post HDFC–HDFC Bank merger, July 1, 2023 |
| Second largest private bank | ICICI Bank | Full form: Industrial Credit and Investment Corporation of India |
| Third largest private bank | Axis Bank | Originally UTI Bank; renamed April 2007 |
| First new private bank licence (post-2003 norms) | Kotak Mahindra Bank | Licensed 2003; founded by Uday Kotak; acquired ING Vysya 2015 |
| Two banks licensed in 2015 | IDFC Bank + Bandhan Bank | RBI's 2013 new bank licence process; both operational 2015 |
| Bank that collapsed and was rescued | Yes Bank | March 2020; SBI-led rescue; SBI acquired 45%; Rana Kapoor arrested |
| Foreign bank that acquired Indian bank | DBS Bank (Singapore) | Acquired Lakshmi Vilas Bank, November 2020 |
| Bank formed from PMC Bank crisis | Unity Small Finance Bank | Centrum + BharatPe created Unity SFB (2021) |
| Bank with Fairfax India as investor | CSB Bank (Catholic Syrian Bank) | Prem Watsa's Fairfax India holds ~50% stake |
| Only bank partially owned by a state govt | J&K Bank | J&K Government holds majority; operates under RBI norms |
| Oldest private sector bank in India | City Union Bank | Est. 1904, Kumbakonam, Tamil Nadu |
| Largest SFB by assets | AU Small Finance Bank | Jaipur, Rajasthan; founded by Sanjay Agarwal |
| Most recent SFB from cooperative bank | Shivalik Small Finance Bank | First urban cooperative bank → SFB conversion (2021) |
| First MFI to become universal commercial bank | Bandhan Bank | Bandhan Financial Services → Bandhan Bank (2015) |
| Payments bank with cancelled licence | Paytm Payments Bank | RBI cancelled January 2024; compliance violations |
| Condition | Small Finance Bank (SFB) | Regular Commercial Bank |
|---|---|---|
| Priority Sector Lending | Minimum 75% of Adjusted Net Bank Credit | Minimum 40% of ANBC |
| Maximum Loan Size | ₹25 lakh per individual borrower | No upper limit |
| Minimum Paid-up Capital | ₹200 crore | ₹500 crore (new private bank) |
| Accept Deposits? | Yes — savings, current, FD | Yes — all types |
| Give Loans? | Yes — primarily to underserved | Yes — all segments |
| Stock Exchange Listing | Must list within 3 years of reaching ₹500 crore networth | Not mandatory for listing |
| Regulated By | RBI (Banking Regulation Act, 1949) | RBI (Banking Regulation Act, 1949) |
| Largest Example | AU Small Finance Bank (Jaipur) | HDFC Bank (Mumbai) |
⚖️ Compare Two Private Banks
📝 Key Notes & Memory Tips
Old Private Sector Banks (OPBs) — established before 1993 liberalisation; typically regional: Federal Bank (1931), South Indian Bank (1929), City Union Bank (1904), Karur Vysya Bank (1916). New Private Sector Banks (NPBs) — licensed post-1993: HDFC, ICICI, Axis, IndusInd (all 1994); Kotak (2003); Yes Bank (2004); IDFC Bank and Bandhan Bank (both 2015). NPBs are national in scale; OPBs tend to be regional.
HDFC Bank was promoted by HDFC Ltd (Housing Development Finance Corporation) in 1994. For 29 years, both existed separately — HDFC Ltd as a housing finance NBFC, HDFC Bank as a commercial bank. On July 1, 2023, they completed a historic merger — HDFC Ltd merged into HDFC Bank, creating India's largest private bank by assets and one of Asia's largest banks by market capitalisation. This is the most important private banking event of the decade.
Yes Bank, co-founded by Rana Kapoor, accumulated large bad loans hidden through evergreening. In March 2020, RBI imposed a moratorium and orchestrated a bailout — SBI invested ₹7,250 crore and acquired a 45% stake. Other banks also invested. Rana Kapoor was arrested by ED under PMLA. The bank stabilised under new CEO Prashant Kumar. This crisis is a regularly tested Banking current affairs topic.
Bandhan Bank was the first microfinance institution (MFI) in India to convert into a full universal commercial bank. Founded by Chandra Shekhar Ghosh in 2001 as a microfinance NGO, it grew into one of India's largest MFIs, then received an RBI universal bank licence in 2015. It launched as a bank in August 2015, simultaneously with IDFC Bank. Ghosh led the bank as MD & CEO until July 2024; current MD & CEO is Partha Pratim Sengupta (since November 2024). Other MFIs (Ujjivan, Equitas, Jana) became small finance banks — a different, more restricted category.
Small Finance Banks (SFBs) were introduced by RBI in 2015 for financial inclusion. Key conditions: minimum 75% of loans must go to priority sectors (vs 40% for regular banks); maximum loan size = ₹25 lakh; minimum paid-up capital ₹200 crore; must list on stock exchange. Most SFBs converted from MFIs or NBFCs. AU SFB = largest. Unity SFB (2021) = newest, formed from PMC Bank crisis. Shivalik SFB = first urban cooperative bank to become an SFB.
Big 4 new private banks and their origins:
"HDFC = Housing Finance | ICICI = Industrial Credit | Axis = UTI | Kotak = Kotak Finance"
Two banks licensed in 2015:
"IDFC + Bandhan = India's 2015 Banking Twins"
→ IDFC Bank (infra background) + Bandhan Bank (microfinance background); both operational 2015
SFB top 4 by size:
"AU → Equitas → Ujjivan → Jana" (Jaipur → Chennai → Bengaluru → Bengaluru)
🃏 Flashcards
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🧩 Practice Quiz
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HDFC Bank completed its merger with parent company HDFC Ltd (Housing Development Finance Corporation) on July 1, 2023. This was India's largest banking merger ever — HDFC Ltd, one of India's premier housing finance companies, merged into HDFC Bank. The combined entity became India's largest private sector bank by assets and one of Asia's largest banks by market capitalisation.
Axis Bank was originally called UTI Bank, promoted by the Unit Trust of India in 1994. In 2003, UTI was bifurcated into UTI-I and UTI-II. The bank needed a new identity independent of UTI and was renamed Axis Bank in April 2007. ING Vysya Bank was actually acquired by Kotak Mahindra Bank in 2015 — a different event often confused with Axis.
Small Finance Banks (SFBs), introduced by RBI in 2015, have a financial inclusion mandate: minimum 75% of their loans (Adjusted Net Bank Credit) must go to priority sectors, and the maximum individual loan size is ₹25 lakh. Like regular banks, they can accept deposits and are regulated by RBI. AU Small Finance Bank is the largest SFB in India.
Yes Bank's collapse was triggered by years of accumulating Non-Performing Assets (NPAs) from large corporate loans that were evergreened (rolled over as new loans to hide defaults). In March 2020, RBI imposed a moratorium and orchestrated a bailout led by SBI which acquired a 45% stake. Co-founder Rana Kapoor was arrested by ED under PMLA. The bank has since stabilised under new CEO Prashant Kumar.
Bandhan Financial Services was the first MFI to convert into a full universal commercial bank in India. Founded by Chandra Shekhar Ghosh in 2001, it received an RBI universal bank licence in 2015 and launched as Bandhan Bank in August 2015. The other entities (Ujjivan, Equitas, Jana) converted into Small Finance Banks — a different, more restricted category, not universal commercial banks.
✅ Key Takeaways
❓ Frequently Asked Questions
Old Private Sector Banks (OPBs) were established before India's economic liberalisation in 1993 — examples include Federal Bank (1931), South Indian Bank (1929), City Union Bank (1904), and Karur Vysya Bank (1916). They are typically regional in nature, with strong roots in specific communities or states. New Private Sector Banks (NPBs) were licensed after the RBI opened banking to the private sector post-1993 liberalisation — HDFC Bank, ICICI Bank, Axis Bank, and IndusInd Bank (all 1994), Kotak Mahindra Bank (2003), Yes Bank (2004), and IDFC Bank and Bandhan Bank (2015). NPBs tend to have national presence, technology-first approaches, and larger balance sheets.
India has 21 scheduled private sector banks as of 2026 — comprising around 9 new private sector banks and 12 old private sector banks. Additionally, there are 11 Small Finance Banks (SFBs) and 5 active Payments Banks (after Paytm's licence cancellation in 2024). Private banks together hold approximately 40% of India's banking assets — with HDFC Bank, ICICI Bank, and Axis Bank accounting for the largest share. All private banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949.
Small Finance Banks (SFBs) are a differentiated banking category introduced by RBI in 2015 specifically to advance financial inclusion. Key differences from regular commercial banks: SFBs must lend minimum 75% of their credit to priority sectors (vs 40% for regular banks); maximum loan size is ₹25 lakh (no such cap for regular banks); minimum paid-up capital is ₹200 crore. Like commercial banks, SFBs can accept deposits, offer savings accounts, issue debit cards, and provide internet banking. Most SFBs converted from Microfinance Institutions (MFIs) or NBFCs. AU Small Finance Bank (Jaipur) is India's largest SFB by assets.
Private bank details — name, tagline, HQ, established year, MD/CEO, and parent/origin — are tested in every IBPS PO, IBPS Clerk, SBI PO, RBI Grade B, and State Cooperative Bank exam in the Banking Awareness section. Common patterns include: largest private bank (HDFC Bank), HDFC–HDFC Bank merger (July 2023), Axis Bank's original name (UTI Bank), Yes Bank rescue (SBI, 2020), two 2015 bank licences (IDFC + Bandhan), SFB mandate (75% PSL; ₹25 lakh cap), first MFI to become universal bank (Bandhan), Kotak acquiring ING Vysya (2015), and Paytm Payments Bank licence cancellation (2024). This page covers all major private banking GK patterns for 2026 exams.
