What are the classification of banks commercial banks and exchange banks?
Scheduled banks and non scheduled banks .
Scheduled banks comes under RBI act 1934 and some of the scheduled banks are Public sector banks , private sector banks and foreign banks ... Non scheduled banks are not included under RBI 1934 act
Commercial banks can be classified based on who owns them. they are: Public commercial banks - The banks that are owned by the government Private commercial banks - The banks that are owned by private individuals or companies Foreign commercial banks - The banks that are owned by individuals or companies that are incorporated outside the country where the bank operates
Specialised banks are formed to cater specific needs of industries,export units etc.These are Foreign exchange banks,Industrial development banks,Export -import banks etc. Commercial banks are governed and regulated by Indian Banking Regulation Act 1949 and according to it banking means accepting deposits from public for the purpose of lending investment.