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What is the difference between public sector banks and private sector banks?

Asked by Topperlearning User 5th June 2015, 9:46 AM
Answered by Expert
Answer:

 

Public sector banks

Private sector banks

Public sector banks are those banks which are owned and managed by the government.

Private sector banks are those banks which are owned by the private individuals.

It includes the State Bank of India and its subsidiaries and 19 nationalised banks such as the Bank of India, Punjab National Bank, etc.

 

It includes foreign banks, old private sector banks and new private sector banks. Currently, it comprises of 38 foreign banks with 321 branches all over the world such as Citibank, HSBC, etc.

 

Answered by Expert 5th June 2015, 11:46 AM
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