At present, there are 27 public sector banks in India, whereas there are 22 private sector banks and four local area private banks. This could refer to taking control of the public shares, change in management and new corporate strategy.
When it comes to promotion of employees, public sector banks consider seniority as a base. These as their counterparts are listed on the Indian bourses. In these banks, most of the equity is owned by private bodies, corporations, institutions or individuals rather than government.
Though not everyone can be a top performer but those who do not perform very well or are not comfortable taking on challenging roles may not be able to benefit much. Mostly public sector accounts are opened for government employees for their salaries, fixed deposits, lockers etc. Professionals are encouraged to take up challenging tasks and enterprising individuals are rewarded accordingly.
Services The two types of bank differ in the scope of the services they offer. Average Performers Might Suffer: Shareholders of the private banks generally seek short-term profits as their highest priority.
Job security is always present in a public sector bank, but private sector bank job is secure only when the performance is good because performance is everything in a private sector.
A private bank may have retail banking facilities for their clients. Cooperative banks have a limited scale of operation, typically contained within a state; many commercial banks operate nationwide and some have branches overseas.
Banking has been originated in the form of private banking. In an event similar to meltdown, there is little chance of being sent home due to market conditions, unlike private banks.
In a private sector bank the board members make all the decisions independently of the shareholders and customers. Lesser competition at work also helps them enjoy a more balanced existence as compared with private bank employees.
Usually, individuals are driven by herd mentality into entering a career which they might regret later. In a private sector bank, the primary focus is profit.What is the difference between Private sector banks and Public sector banks in salary? What are the advantages and disadvantages of a public sector bank over a private sector bank?
What are some differences between functioning of private sector and public sector banks? EXECUTIVE SUMMARY The project is about comparison between Public Sector & Private Sector Bank in India.
Scheduled Commercial Banks in India are categorised int. Compare of Public and Private Sector Bank Words | 19 Pages.
A PROJECT ON COMPARISION OF PUBLIC BANKS AND PRIVATE BANKS WITH CAMEL METHODOLOGY SUMBITTED TO: Prof. AMIT BHATTACHARYA SUBMITTED BY:. A public sector bank is a bank in which the major part of stake or equity is held by the government. Private sector banks are banks in which greater part of stake or equity lies in the hands of private shareholders.
Comparison Between Private PAD Bank and Public Bank SEC Table of Contents Executive Summary 03 AB Bank Sonali Bank Comparison Between AB Bank and Sonali Bank Conclusion 18 Reference 19 Page 1 Comparison Between Private PAD Bank and Public Bank SEC Executive Summary There are two types of bank.
In public sector banks career growth opportunities generally depend upon the level of seniority and not on performance.
So you might not be deemed a promotion even after an excellent year of good performance on your part. So that were some of the major differences between public & Private sector banks that you should know before .Download