CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank of India on Thursday categorised IDBI Bank as a private sector lender following the acquisition of majority stake by Life Insurance Corporation (LIC).

Detailed explanation-2: -Private Sector Banks – Private individuals own the majority of the stake. Private banks include institutions like HDFC Bank, ICICI Bank, AXIS Bank, etc.

Detailed explanation-3: -Leading private sector banks in India 2022, by market cap HDFC Bank was the leading Indian private bank based on market capitalization of over eight trillion Indian rupees as of October 2022. ICICI and Kotak Mahindra followed rounding off the top three during the measured time period.

Detailed explanation-4: -Private banks are banks owned by either the individual or a general partner(s) with limited partner(s). Private banks are not incorporated. In any such case, creditors can look to both the “entirety of the bank’s assets” as well as the entirety of the sole-proprietor’s/general-partners’ assets.