Banking Awareness Part 2 ( Types Of Banking)

Types of Banks

Types of Scheduled Bank

1. PUBLIC SECTOR - Born under Government of India
2. NATIONALIZED - 19 banks ( 1st Phase & 2nd Phase) Discussed in previous blog.
3. CO-OPERATIVE BANK - For helping public.
4. COMMERCIAL BANK - It can be PUBLIC SECTOR BANK , PRIVATE SECTOR BANK, FOREIGN BANK,SMALL FINANCE BANK, PAYMENT BANK. As from the name "Commerce" this bank is usually for business purposes.

Non Scheduled Bank - All Local Area Bank which doesn't comes under RBI Act.

Types of Development Bank

1. SIDBI- "SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA" which Promote industrialization.
2. EXIM - "EXPORT IMPORT BANK" which promote Export Import business.
3. NABARD - "NATIONAL BANK FOR AGRICULTURE AND RURAL DEVELOPMENT" which promotes the development of Rural and Agriculture Sector.
4. NHB- "NATIONAL HOUSING BANKING" which promote Housing Facility

To be continued.........................

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