List of Private Banks in India

Nowadays, if you have money, you must have a bank account. The banking system plays a major role in boosting economic growth by efficiently allocating resources. It helps stimulate the economy by converting your savings into investments.

Banks in India are regulated by the apex bank of India, ie, the Reserve Bank of India. It is the foremost banking regulatory authority in India. In India, banks are classified into different groups, and all of them have their own way of working, different target markets, benefits, and limitations.

Some banks operate in rural areas and are particularly engaged in serving small businesses, agriculture, small cottage industries, or self-help groups. On the other hand, commercial banks operate in both rural and urban areas. Therefore, an effective banking system is very important for the good growth of the economy.

Types of Banks in India

Indian banks are divided into four main divisions, which are:

1. Commercial Banks: These banks are further classified into four categories-

  • Private sector banks
  • Public sector banks
  • Regional Rural Bank
  • Foreign banks

2. Small finance banks

3. Payment Bank

4. Cooperative Bank

What are private sector banks?

These are the banks in which the maximum stake of shares or equity is held and owned by private individuals. Initially, the Indian banking sector was dominated by public sector banks, but after the 1990s, private sector banks came into existence and grew tremendously.

The reason for their rapid growth was that they used the latest technology, used new monetary instruments, and provided contemporary innovations.

In India, private sector banks are classified into two categories

  1. Older private sector banks (these banks emerged before 1968)
  2. New private sector banks (these banks emerged after 1990s)

Difference between private and public sector banks

Here are some features that will highlight the difference between private and public sector banks:

  • Shares in public sector banks are owned by the government, while private shareholders hold the majority stake in private sector banks.
  • In total, there are 27 public sector banks and 21 private banks along with four local area banks.
  • Public sector banks have a total market share of 72.9%, while private sector banks have a share of 19.7%. Therefore, the Indian banking system is dominated by public sector banks
  • Public sector banks have a much larger customer base than private banks
  • Public sector banks have much more transparency in terms of interest rate policies as compared to private banks.
  • Interest rates on deposits in public sector banks are higher than in private sector banks

List of Private Banks in India (2022)

Here is the list of top private banks in India:

Let‘s know more about the best private banks in India:

1. HDFC Bank


It is said to be one of the largest private banks in India in terms of total assets and market capitalization. It is the first bank to receive in-principle permission from RBI to set up a bank in the private sector as a division of RBI’s liberalization of the Indian banking industry in 1994.

In fact, their tagline itself is “We understand your world,” and they live up to it by offering excellent services. HDFC is one of the top performing banks, and it comes in the list of 100 most valuable brands worldwide.


They offer a wide range of financial products and services to their customers including wholesale and retail banking, all types of loans, treasury and credit cards. Their banking network is also vast; Globally, they have more than 5430 branches and 15292 ATMs.

  • Revenue: Rs 105,161 crore
  • NIM: 4.3%
  • Gross NPA: 1.36%
  • CASA: 48%
  • ATM: 15292
  • Branches: 5,430
  • Customer base: Over 49 million
  • Employees: 98,061

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2. ICICI Bank


It is the second largest private sector bank in India as its total consolidated assets in 2020 were Rs.14.76 trillion. ICICI has a large network of branches nationwide; they have 5288 branches and 15158 ATMs across the country.

ICICI bank started in 1994, and its registered office is in Vadodara, Gujarat. They provide an extensive range of financial products and services including They offer a wide range of financial products and services including fixed deposits, loans, insurance, savings and current accounts, privileged banking and credit cards.

They create jobs for more than 85,000 people in the country. ICICI bank offers services to the customers via various delivery channels and its group companies.

  • Revenue: Rs 84,353 crore
  • NIM: 3.61%
  • Gross NPA: 6.7%
  • CASA: 45.2%
  • ATM: 15158
  • Branches: 5288

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3. Axis Bank Limited

Axis Bank

It is the third largest private sector bank in India. A list of private banks in India in 2022  would be incomplete without including Axis Bank’s name. After ICICI and HDFC Bank, Axis has the largest number of ATMs across the country. They have more than 12000 ATMs, 4533 cash recyclers and 4528 branches in the country.

They provide many financial services, but some important ones are Home Loans, Corporate Banking, Mortgage Loans, Retail Banking, MSME, Wealth Management, etc. Axis Bank is also known as the first new generation private sector bank in India.

Axis Bank was established in 1994, and is headquartered in Mumbai. The bank has international offices in 11 countries: Singapore, Dubai, Shanghai, Hong Kong, Colombo, and Gift City-IBU. It has representative offices in Dubai, Abu Dhabi, Sharjah, Dhaka, and an overseas subsidiary in London, UK.

International offices generally focus more on other services they offer in India, such as corporate lending, syndication, trade finance, investment banking, and liability business.

  • Revenue: Rs 56,044 crore
  • Gross NPA: 5.25%
  • NIM: 3.56%
  • CASA: 43.2%
  • ATM: 12000
  • Branches: 4,528

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4. Kotak Mahindra Bank Ltd.

Kotak Mahindra Bank

After acquiring ING Vaishya Bank in 2015 it has become one of the most popular banks in India. It started as Kotak Mahindra Finance Limited in 1985, but later it changed into a bank in 2003, and since then it has gained a lot of popularity. Private sector banks offer excellent products.

They received a license from the RBI and became the first non-banking finance company in India to convert to a bank. They have four main divisions: Consumer Banking, Corporate Banking, Commercial Banking, and Treasury; It serves retail and corporate sectors in rural and urban areas in the country.

Kotak Mahindra Bank has more than 1500 bank branches and 2352 ATMs covering 744 locations. They offer various services like personal finance, investment banking, wealth management, general insurance, life insurance, etc. They are headquartered in Mumbai.

  • Revenue: Rs 31,346 crore
  • NIM: 4.3%
  • Gross NPA: 1.9%
  • CASA: 52.5%
  • ATM: 2,352
  • Branches: 1,500
  • Customer base: 17 million+

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5. IndusInd Bank Limited

IndusInd Bank

It is one of the best private banks in India . They named it because they were inspired by the Indus Valley Civilization, the world’s greatest ancient civilization. Induslnd Bank provides excellent services to its customers and ensures that all its customers are fully satisfied.

It is a new generation bank that was incorporated in 1994 and had a wide banking footprint. They offer a wide range of services including loans, deposits, accounts, microfinance, insurance, investments, etc.


It is headquartered in Pune and has a vast network of over 5000 distribution points and over 2000 bank branches, and 2606 ATMs. Over the last few years, it has grown smoothly and dynamically as they strive hard to provide equal banking services to their customers.

IndusInd Bank also has offices in international locations, namely Dubai, Abu Dhabi and London. They have more than 8 crore customers and employ more than 25,000 people.

  • Revenue: Rs 24,154 crore
  • NIM: 4.05%
  • Gross NPA: 2.15%
  • CASA: 43.1%
  • ATM: 2,605
  • Branches: 2000
  • Customer base: 9 million+

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6. Yes Bank

Yes Bank

It is one of the fastest growing banks in India as it does an amazing job when it comes to serving its customers. It started in 2004 and since then they are working hard on the mission to become the largest and best quality bank in India. Now they have become a “Full Service Commercial Bank” that even other banks look up to.

The good part about this Bank is that they are a very customer centric and service driven Bank and these two qualities will help them to become one of the largest banks in India very soon.

Yes, Bank offers a wide range of products and services such as investment banking, corporate finance, branch banking, etc., to retail customers, MSME Yes, the bank offers a wide range of products and services such as investment banking, corporate finance, branch banking, etc. to retail customers, SMEs and corporates. They have a pan-India presence in 28 states and 9 union territories, plus a representative office in Abu Dhabi and an IBU and GIFT city as well.

Headquartered in Mumbai, it employs more than 18,000 people across the country.

  • Revenue: Rs 20,269 crore
  • Gross NPA: 5.01%
  • CASA: 30.2%
  • NIM: 2.8%
  • ATM: 1,450+
  • Branches: 1,120

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7. Federal Bank

They have an interesting tagline that goes along with the services they offer, such as, “A Complete Banking Partner.” They provide the most efficient and convenient banking solutions to their users. It is one of the first conventional banks in India to computerize all its branches as the concept of digitalization kicks in.

They started their services as Travancore Federal Banks in 1931 and later converted to Federal Bank. It is one of the oldest private banks in India, and is headquartered in Aluva, Kerala. They generate employment to more than 12000 people in the country.

Federal Bank aspires to be one of the most admired banks in India, and the way they’re going, it looks like it’s going to happen very soon.

They offer a wide range of services: depository services, personal banking, insurance services, internet banking, mobile banking, NRI banking, online bill payment and fee collection, mutual fund products, insurance plans, etc.

  • Revenue: Rs 11,635 crore
  • NIM: 3.15%
  • Gross NPA: 2.99%
  • CASA: 31.44 %
  • Market Share: 1.13%
  • ATM: 1,606
  • Branches: 1,251
  • Subscribers: 9.7 million

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8. IDFC First Bank

IDFC First Bank

When you list private banks in India, the name of IDFC First Bank should be included without any miss. Its growing customer base is due to its excellent range of banking products.

Initially, IDFC was established in 1997 for infrastructure finance, and their main focus was on project finance and capital mobilization for private sector infrastructure development. In 2005, they expanded the business, and later, in 2013, they applied for a bank license to the RBI.

They got permission in 2014, and recently in 2015, they opened IDFC First Bank. Then in 2018, it merged with Capital First, a retail property franchise.

They have been in the market for a very short time, yet they have a good customer base of 7 million people, and the best part is that 3 million people are from rural areas. IDFC First Bank is headquartered in Mumbai. They have a pan-India network of 260 branches and 140 ATMs.

They provide a range of financial services to retail customers, small businesses and corporates.

  • Revenue: Rs 9,098 crore
  • NIM: 3.15%
  • Gross NPA: 2.66%
  • CASA: 15.08%
  • ATM: 199
  • Branches: 279
  • Customer base: 4 million live customers

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9. South Indian Bank

This is again a very popular bank that is a must in Private Banks in India 2022 list. The bank is headquartered in Thrissur, Kerala, and the bank was established in 1929 during the Swadeshi movement. It is one of the oldest private banks and the first Kerala-based bank to implement the core banking system.

From the day it was established, and till date, they have maintained a good reputation due to the excellent services they provide. The transparency with which they work is commendable. Their main objective is to provide a reliable, efficient, and service-oriented financial institution for people to get loans at reasonable interest rates.

Due to their excellent services, they have 876 branches, 53 extension counters, and 1334 ATMs across the country. has an excellent network. You can find their ATMs and branches in 27 states and 3 union territories.

  • Revenue: Rs 7,117 crore
  • NIM: 2.53%
  • CASA: 24.1 %
  • Gross NPA: 4.96 %
  • ATM: 1,400
  • Branches: 870

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10. Bond Bank


Bandhan Financial Holdings Limited (BFHL) is the parent company, and Bandhan Bank is its subsidiary. BFHL is a wholly owned subsidiary of Bandhan Financial Services Limited (BFSL).

It came into existence in 2015, and is headquartered in Kolkata. Their main focus is on serving the unbanked and underbanked population of the country. They respect all their clients equally, whether they are individuals, corporates or large companies.

Their banking solutions are excellent, and they offer financial services in terms of property and liability and products and services. Some of the primary services they offer to their customers are banking services, microfinance, MSME, and affordable housing finance for urban, semi-urban and rural customers.


The private shareholders of BFSL are International Finance Corporation, IFC FIG Investment Company, Small Industries Development Bank of India (SIDBI), and Caladium Investments Private Limited. Ltd

  • Revenue: Rs 7,208 crore
  • NIM: 10.45%
  • Gross NPA: 2.04%
  • CASA: 36.06%
  • Customer base: 17.27 million
  • ATM: 481
  • Branches: 999

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11. CSB Bank

It was formerly known as Catholic Syrian Bank and is one of the oldest private sector banks in India as it was established in November 1920. They are headquartered in Thrissur, Kerala. People from Maharashtra and South India prefer to open their accounts with CSB Bank because of the credibility and reputation they have maintained.

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They have around 417 branches and over 300 ATMs across 18 states and 2 union territories. CSB Bank operates in four major segments: Corporate Banking, SME Banking, Retail Banking, and Treasury Operations. They are currently working on expanding their services by investing in technology so that they can improve the customer experience.

They have more than 3200 people working under them to provide efficient customer services. It became a scheduled bank in 1969, and in 1975, it entered the field of international banking.

  • Revenue: Rs 599.24 crore
  • NIM: 3.20%
  • CASA: 29.04%
  • ATM: 310
  • Branches: 417
  • Gross NPA: 3.05%
  • Customer base: 1.5 million

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12. City Union Bank

It is one of the top private banks in India that provides its customers with a range of services such as retail banking, enterprise banking, loans, MSME, NRI banking, gold loans and also caters to the needs of the agriculture and education industries.

The bank was established in 1904 as a limited company and was named Kumbakonam Bank Limited. It is headquartered in Kumbakonam, Tamil Nadu. They started expanding in 1930 when they opened their first branch in Mannargudi, and then almost 50 years later in 1980, they opened their branch in Sultanpet outside Tamil Nadu.

They have since worked hard to maintain this position and have opened 700 branches and 1762 ATMs across the country.

  • Revenue: Rs 1209.95 crore
  • NIM: 4.12%
  • CASA: 6.20%
  • ATM: 1762
  • Branches: 700
  • Gross NPA: 4.09%

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13. DCB Bank

It is a new generation private bank and has deep roots in India since its establishment in the 1930s. It is a scheduled commercial bank regulated by RBI. It has 347 branches in 18 states and 2 union territories. They have contemporary technology and infrastructure, such as state-of-the-art banking for personal and business banking customers.

The financial services that DCB Bank offers to its customers are Retail, Micro-SME, SME, Mid-Corporate, Government, Public Sector, Indian Banks, Co-operative Banks, Agriculture, Commodities, and NBFCs . This bank is professionally managed and controlled.

Their branches are spread across the country in Andhra Pradesh, Bihar, Chhattisgarh, Daman, Delhi/NCR, Goa, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Rajasthan, Silvassa, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand and West Bengal.

They want to be the most innovative and responsive bank in India and treat everyone with respect and what is right.

  • Revenue: Rs 96.21 crore
  • NIM: 3.67%
  • CASA: 23.34%
  • ATM: 112
  • Branches: 347
  • Gross NPA: 2.15%
  • Customer base- 600000

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14. Dhanalakshmi Bank

This is again an old bank which must be included among the top private banks in India. This bank was established on 14 November 1927 , and since then, it has maintained trust and goodwill with its customers. Enterprising entrepreneurs started this bank at Thrissur with a capital of Rs 11,000.

Dhanalakshmi Bank has been recognized as a Scheduled Bank by RBI . In the year 2010, it was renamed as Dhanalakshmi Bank as earlier it was called Dhanalakshmi Bank. They try to keep abreast with the latest technologies; In 2015, they launched a mobile called “Dhan Smart” to make transactions easier for customers.

They have opened 181 bank branches and 26 extension counters across the country. Their vision is to be a strong and innovative bank and want to take social responsibility to maximize customer satisfaction.

  • Revenue: Rs 65.78 crore
  • Net profit- 11.67 crore rupees
  • NIM: 3.21%
  • CASA: 33.40%
  • ATM: 112
  • CRAR: 14.41%
  • Gross NPA: 5.90%
  • Gross deposit growth- 2.84%

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15. IDBI Bank

It is a full-service universal bank that offers a wide range of financial services to its customers. Some of the major services they offer are deposits, loans, payment services, and investment solutions. They understand the client’s needs well and ensure to provide excellent financial solutions and excellent customer services.

In line with today’s changing world and its needs, they are keeping pace with the latest technologies to provide a unique range of digital services that go well with their pan-India network of branches and ATMs.

They have their customer support available 24*7 so that if you face any problem or trouble, you can get immediate help. IDBI Bank offers the perfect combination of innovation, security and convenience in all transactions and services.


Their aim is to “enhance our stakeholders’ definitions and the most preferred and trusted bank to shape our day-to-day business, helping us build long-lasting relationships.”

  • Revenue: Rs 135.39 crore
  • Net profit- 378 crore rupees
  • NIM: 2.87%
  • CASA: 47.74%
  • ATM: 3394
  • Branches: 2095
  • Gross NPA: 23.52%
  • Gross deposit growth- 2.85%

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16. Jammu and Kashmir Bank

It is a universal bank in Jammu & Kashmir and Ladakh and is a specialized bank in the rest of the country. It’s also a pretty old bank that was founded in 1938. They are headquartered in Srinagar, Jammu and Kashmir. They are also recognized as the agent for RBI for baking business and carrying out banking business requirements of Jammu & Kashmir and Ladakh, plus they also collect Central Tax to collect Central Tax for CBDT as well _

Their business model is quite different from other banks as they operate on the two-legged business model, in which they try to increase lending in the home territory and look to capture niche lending opportunities on a pan-India basis.

J&K bank has a total of 1038 branches and 1340 ATMs nationwide. They operate on the principle of “socially empowering banking” and aspire to provide excellent financial services for small and medium enterprises as well as for retail customers.

  • Revenue: Rs 6.50 crore
  • Net profit- 43.93 crore rupees
  • NIM: 3.86%
  • CASA: 53.32%
  • ATM: 1382
  • Branches: 956
  • Gross NPA: 8.87%
  • Total Deposit Increase- 10%

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17. Karnataka Bank

The tag line of this bank is very impressive, as are its services, ie, “Your Family Bank across India.” The good thing about this bank is that it treats every customer as special and understands that all customers have unique needs. Regardless of the size of your business, they understand the needs and provide excellent financing solutions.

Karnataka Bank provides a comprehensive range of customized products and services that are perfect for business, market, business and personal use. Some of the important services they offer are borrowing facilities, additional funds, offering maximum returns on deposits, or helping with foreign transactions.

With them you can be absolutely sure of the quality in all aspects of their solutions and services. Karnataka Bank has been updated with the latest technology to match your expectations today and for the future.

  • Revenue: Rs 315.73 crore
  • Net profit- 196.38 crore rupees
  • NIM: 3.08%
  • CASA: 29.17%
  • ATM: 1026
  • Branches: 862
  • Gross NPA: 3.97%
  • Customer base- 10.21 million
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18. Karur Vashya Bank

This bank was established in 1916 to provide financial assistance to traders and farmers in Karur; It is a city in Tamil Nadu. It has a tradition of 103 years and has become one of the top financial institutions in the country.

With a lot of hard work and precision, they have 782 branches and 1685 ATMs in 20 states and 3 union territories. They provide many financial services under one roof to millions of customers.

Karur Vaishya Bank has a different way of working according to their directors which they want to “continually delight customers by blending tradition with technology to provide innovative products and services at affordable rates through a pan India branch network. .”

Their mission is to strengthen the financial system and ensure fiscal discipline through optimal utilization of funds. They plan to adapt to new technology to provide innovative products and services to their customers.

  • Revenue: Rs 107591 crore
  • Net profit- 84 crore rupees
  • NIM: 3.44%
  • CASA: 33.86%
  • ATM: 1685
  • Branches: 782
  • Gross NPA: 2.99%

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19. Nainital Bank

This bank was established in 1922 to cater to the baking needs of the people of that region. Later, in 1973, RBI advised Bank of Baroda to manage the affairs of this bank. It has gained a lot of customer base due to the excellent services that they offer. Today they have opened 160 branches in Delhi, Haryana, Uttar Pradesh, Uttarakhand and Rajasthan.

All branches of Nainital Bank are working on CBS platform. Some of the important services they offer are RTGS, NEFT, SMS Alerts, RuPay ATM cum Debit Card, NainiNet Internet Banking, and Mobile Banking facilities.

People love to use the services of this bank because it is a customer-centric bank and provides prompt and personalized services to its customers in the best possible manner.

  • Revenue: Rs 11797.46 crore
  • Net profit- 44.85 crore rupees
  • NIM: 2.72%
  • CASA: 2.50%
  • ATM: 1685
  • CRAR: 12.94%
  • Gross NPA: 4.89%

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20. RBL Bank

It is one of the fastest growing private banks in India, and is expanding its services and branches across the country. Currently, they have 403 bank branches, 1344 business correspondent branches, and 412 ATMs in 28 states and union territories.

The bank was initially known as Ratnakar Bank when it was established in 1943. Their head office is in Mumbai. RBL has expertise in six main areas: corporate and institutional banking, commercial banking, branch and commercial banking, retail assets , and treasury and financial market operations.


They aspire to be a bank that is everyone’s choice by offering fast and unique financial solutions. The RBL team says they have customers at heart; Employees are their pillars, and shareholder value is their focus. To achieve all this, they offer best-in-class products and services as well as an environment where employees can work comfortably.

  • Revenue: Rs 147.1 crore
  • NIM: 4.93%
  • CASA: 18%
  • ATM: 412
  • Branches: 403
  • CRAR: 17.9%
  • Gross NPA: 1.84%
  • Customer base: 8.76 million

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21. Tamil Nadu Mercantile Bank

In the list of private banks in India, In the list of private banks in India, Tamil Nadu is again one of the oldest banks. It was established in 1921, and at that time it was called Nadar Bank, and later in November 1962, it was renamed as Tamil Nadu Mercantile Bank. It is headquartered in Thoothukudi, Tamil Nadu.Tamilnad is again one of the oldest banks. It was established in 1921, and at that time it was called Nadar Bank, and later in November 1962, it changed its name to Tamilnad Mercantile Bank. It is headquartered in Thoothukudi, Tamil Nadu.

They excel in various financial services like internet banking, mobile banking, tab banking, loans, fixed deposits, online bill payments, and much more. Tamilnad Mercantile Bank has opened 509 branches, 12 regional offices, 11 extension counters and 11,151 ATMs across the country.

They have the vision to open more branches to serve more and more people by providing those services at the most reasonable prices.

  • Revenue: Rs 408 crore
  • NIM: 3.03%
  • CASA: 16.48%
  • ATM: 11151
  • Branches: 509
  • CRAR: 14.31%
  • Gross NPA: 3.62%

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This was the 2022 list of private banks in India; All of them excelled in some other services. It depends on you which financial service you need but make sure you compare both the price and transparency in policies before choosing any bank.

Frequently Asked Questions

Q1) How many private banks are there in India?

In 2020, many banks merged, and now there are 21 private banks in India as of 2022.

Q2) Which are the 21 private banks?

Here is a list of all private banks for you:

Mr. well Bank Name
1 Axis Bank
2 Bond Bank
3 CSB Bank
4 City Union Bank
5 DCB Bank
6 Dhanlakshmi Bank
7 Federal Bank
8 HDFC Bank
9 ICICI Bank
10 IDBI Bank
11 IDFC First Bank
12 IndusInd Bank
13 Jammu and Kashmir Bank
14 Karnataka Bank
15 Karur Vashya Bank
16 Kotak Mahindra Bank
17 Nainital Bank
18 RBL Bank
19 South Indian Bank
20 Tamil Nadu Mercantile Bank
21 Yes Bank

Q3) Which is the number 1 private bank in India?

However, all banks are good and it totally depends on your requirement which bank is suitable for you. But, according to total sales and market capitalization, HDFC wins the number one private bank in India. In fact, its highest turnover is Rs. 101,561 crore last year


Bottom line, this was the list of private banks in India, which includes 21 big and reliable banks. HDFC is the largest private bank in terms of total assets and turnover last year. But, as mentioned earlier, choosing the right bank for you will depend on your financial needs as some banks offer a lot of security, some are reasonable, some may have excellent customer services, and some have these qualities. May be a combination. So, choose the best and enjoy their excellent services. Happy Banking!!

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