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Financial System 229<br />

Private Sectors Banks<br />

These <strong>com</strong>prise of foreign and private domestic banks. The foreign banks have market<br />

share of 8.5% of total deposits into banking industry and the domestic private banks have<br />

a share of 5.8% of total deposits of the banking industry. Presently 31 private domestic<br />

banks and 33 foreign banks are functioning in India.<br />

The following are the old generation private sector banks in India:<br />

• Bharat Overseas Bank Ltd.<br />

• City Union Bank Ltd.<br />

• Development Credit Bank Ltd.<br />

• Ing Vysya Bank Ltd.<br />

• Karnataka Bank Ltd.<br />

• Lord Krishna Bank Ltd.<br />

• The Nainital Bank Ltd.<br />

• SBI Coml. and Intl. Bank Ltd.<br />

• Tamilnadu Mercantile Bank Ltd.<br />

• The Bank of Rajasthan Ltd.<br />

• The Catholic Syrian Bank Ltd.<br />

• The Dhanalakshmi Bank Ltd.<br />

• The Federal Bank Ltd.<br />

• The Ganesh Bank of Kurndwad Ltd.<br />

• The Jammu & Kashmir Bank Ltd.<br />

• The Karur Vysys Bank Ltd.<br />

• The Lakshmi Vilas Bank Ltd.<br />

• The Ratnakar Bank Ltd.<br />

• The Sangli Bank Ltd.<br />

• The South Indian Bank Ltd.<br />

• The United Wester Bank Ltd.<br />

New Banks in Private Sectors<br />

In the year 2000, the government of India related entry level for private sector by reducing<br />

the government holding in nationalised banks from 51% to 33%. The RBI in 2003 thereby<br />

issued directions for establishment of private banks in India. Some of the new banks in<br />

private sector as follows:<br />

• UTI Bank Ltd.<br />

• Indus Ind Bank Ltd.<br />

• ICICI Bank Ltd.

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