New Generation Banks in India

New generation banks emerged as a result of the economic liberalization in the country after the 1990s. These are international-level private banks. UTI Bank (now Axis Bank) was the first new generation bank to start operations in India. ICICI, HDFC, Kotak Mahindra Bank, Yes Bank, etc. are examples of these. All of them operate according to the regulations and rules of the Reserve Bank of India.