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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.

Ex:

a. ICICI Bank

b. HDFC Bank

c. Kotak Mahindra Bank

d. etc.

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Q: Give one example of private sector bank and explain it?
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