A Private Sector Bank is a financial institution that is owned and operated by private individuals or corporations, rather than the government. These banks offer a range of services, including savings accounts, loans, and investment options, aiming to generate profit for their shareholders. They often compete with each other to attract customers by providing better interest rates and innovative banking solutions. Unlike Public Sector Banks, which are government-owned, private sector banks are typically more flexible and responsive to market changes. They focus on customer service and technology to enhance user experience, making banking more accessible and efficient for individuals and businesses alike.