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The types of banks in India, their functions and the list of banks under each section form a very important part of the banking awareness syllabus which is included in most Government exams.
The Banking System in India is divided into several types, each serving specific functions and purposes. The table below represents the different types of banks in India and how it is further divided:
Cooperative Banks. Payment Banks. Small Finance Banks. Non Scheduled Banks. History of the Indian Banking System. Before studying the types of banks in India, first we will have to understand the chronology of banking. A vast chronicle of banking history describes that people were banking on the concept of the barter system.
Nov 17, 2023 · There are 11 types of banks, including Retail banks, Commercial banks, Investment banks, Universal Banks, Credit unions, Private banks, Savings and Loan Associations, Islamic Banks, Green Banks, Challenger banks, and Neobanks.
Apr 25, 2024 · Overview. Test Series. Banks are the financial institutions that play a crucial role in the functioning of the Indian economy and are licensed to receive cash deposits and provide loans. Different types of Banks in India reflect that India is a mixed economy.
Mar 28, 2023 · There are several types of banks including retail, commercial, and investment banks. In most countries, banks are regulated by the national government or central bank. Understanding...
Jul 11, 2023 · The eight categories, which we discuss in greater detail below, include public sector banks; private sector banks; cooperative banks; regional rural banks (RRBs); foreign banks in India; small finance banks; payment banks; and development banks. Depending on the category, there may be other subcategories to consider as well.
Dec 6, 2023 · Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural. Apart from these, a fairly new addition to the structure is a payments bank.
Jan 29, 2022 · Different types of banks provide different services. They may specialize or cover multiple areas (retail, commercial, and investment, for example).
May 30, 2023 · There are many different banks and each serves specific purposes in the economy. Here's a breakdown of eight common types of banks and what they do.
