There re various types of banks which operate in India to meet the financial requirements of different categories of people engaged with different sectors like agriculture, business, professions etc. On the basis of functions, the banking institutions in India may be divided into the following types.
Central Bank- A bank which is entrusted with the functions of guiding and regulating the banking system of a country is known as its Central bank. Such a bank does not deal with the general public. It acts essentially as Government's banker, maintain deposit accounts of all other banks and advances money to other banks when needed. The Central Bank provides guidance to other banks whenever they face any problem. It is therefore known as the banker's bank.
Commercial Banks- Commercial banks are banking institutions that accept deposits and grant short-term loans, and advance to their customers. In addition of giving short-terms loans, commercial banks also give medium-term and long-term loans to business enterprises. Commercial banks are of three types which are- Public Sector Banks, Private Sector Banks and foreign banks.
Development Banks- Business often requires medium and long-term capital for purchase of machinery and equipment, for using latest technology, or for expansion and modernization. Such financial assistance is provided by the development banks. Some of the Development banks are as below-
Industrial Financial Corporation of India (IFCI)
State Financial Corporations (SFC)
Co-operative Banks- People who come together to jointly serve their common interest often form a co-operative society under the Co-operative Societies Act. "When a co-operative society engages itself in banking business, it is called a co-operative bank." There are generally three types of Co-operative banks.
Specialized Banks- These are some banks which cater to the requirements and provide overall support for setting up business in specific areas of activity. for examples- EXIM Bank, NABARD and BMB.
Thank You
Varun Munjal ( tyariadda.com)
Types of banks in India 1. Scheduled banks 2. Non- Scheduled banks
The different types of banks in India are:Commercial BanksInvestment BanksRetail BanksWholesale BanksRural Banks
Bank of baroda
hundreds
how many types of ants are there in India. name some.
In India: Savings Account Current Account Fixed Deposits account Recurring Deposits account DEMAT Account etc.
types of industrial disputes
State Bank of India offers different types of accounts. They are: a. Savings Account b. Current Account c. Fixed Deposit Account d. Recurring Deposit Account e. Senior Citizen Deposit Account f. Senior Citizen Pension Account g. Etc.
In India, the investment policy of each bank is determined by the bank's administrators meaning each bank has different policies regarding investments.
nothing
my head
The four main seasons in India are Summer, Winter, Monsoon and pre-monsoon.
no i said types of elections in Ghana not india