More than 50 per cent stake in private bank is not held by the government but with some institution or company. These shares are owned by individual as well as corporation. Public sector banks are divided into two categories — Nationalized Bank and State Bank and its affiliates.
Nationalized banks have government control over banking unit and functioning. The rate of interest given by the government and private banks on the money deposited in the bank is almost equal. However, new banks like Bandhan Bank, Airtel Bank are offering marginally better interest rate than other banks.
In the case of loans, the interest rates of the public bank are slightly lower than the private ones. Like SBI has offered home loans for women customers at low interest rates.
In which there is 8. Private banks are said to provide better service, but they also charge for additional services provided. NFRA member under lens for audit gaps in fraud-hit firm; cloud over selection process for regulatory posts. Choose your reason below and click on the Report button.
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