BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Scheduled and non-Scheduled banks
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Private sector and public scheduled banks
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Both A and B
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Regional rural banks, co-operative banks and NBFCs
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Detailed explanation-1: -A commercial bank is a financial institution that provides services like loans, certificates of deposits, savings bank accounts bank overdrafts, etc. to its customers. These institutions make money by lending loans to individuals and earning interest on loans.
Detailed explanation-2: -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.
Detailed explanation-3: -Public sector Banks – A bank where the majority stakes are owned by the Government or the central bank of the country. Private sector Banks – A bank where the majority stakes are owned by a private organization or an individual or a group of people.
Detailed explanation-4: -A commercial bank is a kind of financial institution which carries out all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, etc. These banks are profit-making institutions and do business only to make a profit.