BANKING AFFAIRS

Detailed explanation-1: -Intellectual Property Rights (IPRs) are a set of property rights that have economic value. Each of these rights serves as an asset or source of income for those who own it. As a property right, IPRs are able to function as collateral for borrowing funds from financial institutions like banks.

Detailed explanation-2: -Classification of Banks in India 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.

Detailed explanation-3: -Banks are institutions that help the public in the management of their finances, public deposit their savings in banks with the assurance to withdraw money from the deposits whenever required. Banks give interest on deposits which adds to the original deposit amount and is a great incentive to the depositor.

Detailed explanation-4: -The system essentially includes deposit, loan and credit processing. Among the integral core banking services are floating new accounts, servicing loans, calculating interests, processing deposits and withdrawals, and customer relationship management activities.