The modernization of old private banks

...... The quaint animal, ‘old generation private sector banks’, is a species created by the age-old system of the Reserve Bank of India’s (RBI) classification of Indian banks. This group comprises private sector banks that existed before a fresh set of licences were given to set up ‘new’ private banks in the early 1990s. But the current public sector banks – except the State Bank of India group – are themselves a product of nationalization of many of these old private banks. So, the remaining ‘old generation private banks’ are simply the ones that were considered unimportant for nationalization.....

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