सरकारी और निजी क्षेत्र के बैंकों में क्या अंतर है ?

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public and private sector banksसरकारी और निजी क्षेत्र के बैंकों में क्या अंतर है

What is the difference between public and private sector banks:

The majority of the सरकारी और निजी क्षेत्र के बैंकों में क्या अंतर है ? shareholding in the public sector bank rests with the government, while in the private sector bank,

the majority is held by large shareholders.For example, State Bank of India is a major public sector bank, while ICICI Bank is a popular private sector bank.

Generally, both types of banks offer the same service, but there is a big difference in the way they operate, their quality and time frame.

This is the reason that there is a slight difference in their interest rates, which is also necessary to maintain their profit.

पब्लिक सेक्टर बैंक और प्राइवेट सेक्टर बैंक में अंतर
Explain that the government controls 58.87 percent of State Bank of India.
Generally, the government holds more than 50 per cent stake in public sector banks,
keeping the government in full control of nationalized banks.
State Bank of India and Punjab National Bank are two such big banks.
It is also worth mentioning here that these banks are subject to the “Reserve Bank of India” functioning as the central bank of India, headquartered in Mumbai.
Almost all banks come under the authority of this bank, because the rupee also prints the same bank.
You should know that Bank of India, Dena Bank, IDBI Bank, Bharatiya Mahila Bank, Indian Bank, Oriental Bank of Commerce.
Punjab National Bank, United Bank of India, UCO Bank, Allahabad Bank, Andhra Bank, Bank of Baroda in India.
Bank of Maharashtra, Canara Bank, Central Bank of India, Corporation Bank, Indian Overseas Bank.
Syndicate Bank, Union Bank of India, Vijaya Bank and Punjab and Sindh Ank etc. Popular Banks public sector etc.

Public and private sector banks:

In contrast, private sector banks are commanded by its share holders. Usually such banks are run by some private group. Following the policy of liberalization implemented in the country since the 1990s,

the number of private sector banks has increased considerably, as the licensing process for private sector banks has now been greatly simplified.

You should know that the government does not hold any shares in these private banks, rather their entire shares are held by the private company, such as HDFC and ICICI Bank.

We know that Bandhan Bank, Catholic Syrian Bank, City Union Bank, Dhanalakshmi Bank, Yes Bank, DCB Bank.

Equitas Small Finance Bank, Federal Bank, Tamilnad Mercantile Bank Ltd, Karnataka Bank, Indusland Bank.

Jammu & Kashmir Bank, Kotak Mahindra Bank, Karur Vysya Bank, Laxmi Vilas Bank, Nainital Bank, RBL Bank, South Indian Bank.

Axis Bank, UP Agro Corporation Bank and IDFC Bank etc. Popular Bank’s private sector.

Often, the private sector banks are at the forefront of getting the work done quickly and providing good service and due to these fast banking facilities, they also charge more fees.

While customers are taken care of in public sector banks, but all efforts are made to provide them better service at a lower facility fee.

Most of the accounts in public sector banks are held by government employees, as they get their monthly salary. This includes fix deposits, locker facilities etc.

While the targets of private sector banks are employees working in the private sector,

for which they provide credit card and net banking along with bank account for their salary.

There is no doubt that both public sector and private sector banks are big pillars on which the foundation of India’s economic development is laid.

Hence public sector banks invest a lot of time and money in training and development of employees ie training and development.

Whereas, private sector banks also focus on training of employees and provide more on-job training.

New employees are trained in various aspects of job responsibilities by their superiors.

Public sector banks provide more recruitment opportunities than private sector banks,

as they follow the rules and guidelines set by the government.

Whereas for reserved category candidates in all types of recruitment in private bank do not follow the quota system as per the rules laid down by the government, but prefer merit.

Job security comes as part of your package in a public sector bank, where an employee is given enough time to understand and adjust to job responsibilities.

While private sector banks are competitive business units that work for profit.

Therefore, due to negligence in Professional Attitude, you can also lose your job here.

Public sector banks are governmental entities. Hence, they do not have to be very competitive in the market, which makes their work culture relaxed.

Whereas private sector banks operate on profit margins and their employees have to meet high targets with limited resources.

So every employee has to perform his best. Which makes work culture in private sector bank very aggressive.

Public sector bank employees get various facilities like employee pension scheme, loans at low interest rate, high interest rate on deposits, etc.

Whereas, private sector banks do not offer any such benefits or perks to their employees as part of the job package, instead rewarding talented employees from time to time based on their performance.

More About Public and private sector banks:

Public sector banks exist in urban areas ranging from urban metros to far-flung rural areas whereby public sector bank employees can be transferred to any place depending on the requirements.

While the transfer policy is not fixed in private sector banks and the employees hired for a particular role in the branch remain the same throughout their tenure.

Indeed, banks in India remained private until 1969. But when the then Prime Minister Smt.

Indira Gandhi nationalized all those private banks through an Act of Parliament,

the Government was able to bring the benefits of the Indian economy to the common people.

This is the reason that from 1969 to 1994 there were only public sector banks in India.

Then, when the then PM PV Narasimha Rao government allowed HDFC to start the first private bank,

its success in a short time prompted other private banks to come into the picture.

Today the situation is that private sector banks are giving stiff competition to public sector banks.

Their great performance has made competing banks more competitive and also forced them to provide better customer services.

Difference between Public Sector Bank and Private Sector Bank:

  • Private sector banks are commanded by its share holders. Such banks are operated by private people.
  • The government holds more than 50 per cent of the shares in public sector banks.
  •  The majority of the shares in private sector banks remain with the stock holders.
  • Private sector banks are at the forefront of settling work quickly and providing good service.
  • It is another matter that these private sector banks also charge fees in lieu of convenience.
  • At the same time, public sector banks also take care of the costumer and try to give them better service at a lower facility fee.
  • Most public sector banks have accounts of government employees only.
  • This is why through this, their salary is given to them. This includes fix deposits, locker facilities etc.
  • At the same time, the target of private sector banks is the people working in the private sector.
  • This bank gives an account to the employees of the private sector for their salary as well as provides credit card and net banking.
  • But when it comes to operations, there is no big difference between the two types of bank.
  • But there is a slight difference from the point of view of the job.
  • There is a huge difference in the recruitment process between government and private banks.
  • Government banks have more recruitment chances than private banks.
  • You have to give exams and interviews for recruitment in public sector banks.
  • And at the same time recruitment in private sector banks is done through campus recruitment, referral, walk-in interview.
  • However, when the frequency is high Private banks also start recruitment through open competition examination through newspaper and internet.
  • Explain that there is no exemption to the reserve category in private banks.
  • For a government bank, the policy of salary and promotion is decided in advance.
  • On the other hand, private banks get salary according to their ability and experience.
  • Private banks at Amtour prefer to recruit people with professional degrees like MBA.
  • Due to job security, candidates opt for government bank job.
  • But if a person makes a big mistake, a government bank employee can be fired.
  • In the same private banks, the risk of job is more.
  • If you make mistakes in these banks or your work is not done properly then your job can be lost.
  • When it comes to benefits and allowances, there are more offers in public sector banks than private banks.
  • Government bank employees get many facilities like employee pension scheme, loans at low interest rates, higher interest rates on deposits.
  • While most private banks do not get such offers.

So now you must have understood well what is the difference between Public Sector Bank and Private Sector Bank.

Hope you guys will like this article. If you get a little help from this article, then we will be very happy.

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