Question

what is private sector bank?

Answer 1

Banks where the majority of the shares or equity are not held by the government but by private sector banks shares holders. The new private sector banks are those that have gained their banking license since the change of policy in the 1990s.

Answer 2

banks that are not run by the government

and have a profit motive in mind than service motive

for example, icici  bank, kotak bank, yes bank, and axis bank