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Private sector banks are better than public sector banks in the following aspects:
- They are more customer friendly and customer oriented. If they don't get customers they go out of business (Unlike public sector banks that would stay in business anyway because they are owned and run by the government)
- They offer more facilities than public sector banks (Because of the same reason in point a)
- They offer better interest rates for deposits
- They offer a wider variety of products.
I am not saying that public sector banks don't do all these things, just that they don't do it as aggressively or effectively as private sector banks because their existence is not dependent on customers whereas for private banks they will be bankrupt if customers refuse to bank with them.
Wiki User
∙ 13y ago
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Why public bank is better than private bank?
Private Sector banks are owned by individuals or a group of individuals who can take policy and business decisions quickly/easily when compared to public sector banks where policy decisions have to be approved by the government of India. Hence private sector bank are able to offer attractive plans and offers to customers and hence are growing at a faster pace than public sector banks.
Is icici bank a private sector or public sector?
ICICI Bank is a private sector bank. ICICI Bank is India's largest private sector bank and is one of the top 5 big banks in the country. It has around 2000 branches across the country and serves millions of customers.
Which bank is not in private sector?
There are numerous banks in India. A bank that is not owned by a private individual or a company is not a private sector bank. Ex: A bank that is owned by the government is not a private sector bank and is called a public sector bank. Ex: 1. State Bank of India 2. Bank of Baroda 3. Indian Bank 4. Indian Overseas Bank 5. etc.
What do you mean by private sector banks?
Private sector banks is a bank that is owned by the private individual. Thats bank called private sector bank.
Is canara bank is private or government bank?
Canara Bank is a public Sector Bank meaning that it is owned largely by GOI.
Why private bank sector are performing better than public bank sector?
Private Sector banks are owned by individuals or a group of individuals who can take policy and business decisions quickly/easily when compared to public sector banks where policy decisions have to be approved by the government of India. Hence private sector bank are able to offer attractive plans and offers to customers and hence are growing at a faster pace than public sector banks.
Why public bank is better than private bank?
Private Sector banks are owned by individuals or a group of individuals who can take policy and business decisions quickly/easily when compared to public sector banks where policy decisions have to be approved by the government of India. Hence private sector bank are able to offer attractive plans and offers to customers and hence are growing at a faster pace than public sector banks.
Is icici bank a private sector or public sector?
ICICI Bank is a private sector bank. ICICI Bank is India's largest private sector bank and is one of the top 5 big banks in the country. It has around 2000 branches across the country and serves millions of customers.
Which bank is not in private sector?
There are numerous banks in India. A bank that is not owned by a private individual or a company is not a private sector bank. Ex: A bank that is owned by the government is not a private sector bank and is called a public sector bank. Ex: 1. State Bank of India 2. Bank of Baroda 3. Indian Bank 4. Indian Overseas Bank 5. etc.
What is a difference between icici bank and Punjab national bank?
icici is a private sector bank,Punjab national bank is a public sector bank
Is Oriental Bank of commerce is a private sector?
No. Oriental Bank of Commerce is a Public Sector Bank. visit http://www.obcindia.co.in for more details about this bank.
What is the difference between a scheduled bank and public sector bank?
A scheduled bank is a private sector bank given a schedule status by the RBI while a Public sector bank is a government undertaking bank .Some scheduled bank were nationalised to merge with other public sector bank or operate independently as government undertaking banks.
What do you mean by private sector banks?
Private sector banks is a bank that is owned by the private individual. Thats bank called private sector bank.
Is canara bank is private or government bank?
Canara Bank is a public Sector Bank meaning that it is owned largely by GOI.
Is DCB bank a cooperative bank or private sector bank?
DCB Bank is a private sector Indian bank.
What is difference between a public sector bank and a private sector bank?
A public sector bank is one that is owned by the government of the country. Since the people decide who the government is, they are also referred to as public sector banks. The government is responsible for the money deposited into the accounts of these banks. A private sector bank is one that is owned by an independent individual or a company that is controlled by a few individuals. In short, the bank is owned by someone else and they run the bank. The person owning/running the bank is responsible for the money deposited into the accounts of these banks.
What are the two types of commercial bank?
types of commercial banks are: 1) public sector banks 2) private sector banks....
