The
faster pace of growth of private sector banks can be attributed to the fact
that they have been nimble in adapting to the evolving needs of the customer.
Private sector banks have been able to differentiate themselves with focus on
better customer experience. This is evident from the fact that in addition to
this private banks have also been able to mobilize a larger share in deposits
as well. Private sector banks ownership of deposits has risen from 20 per cent
in FY07 to 24 per cent in FY 17.Factors which contributed towards increase in
market share for private sector banks in the last 10 years are predominantly of
two types competition wizard magazine
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