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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Nationalised banks and private sector banks
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Regional rural banks, cooperative banks
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Land development banks
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Detailed explanation-1: -All commercial banks (Indian and foreign), regional rural banks, and state cooperative banks are scheduled banks. Non-scheduled banks are those which are not included in the second schedule of the RBI Act, 1934. At present these are only three such banks in the country.
Detailed explanation-2: -Commercial banks can be broadly divided into public sector, private sector, foreign banks and RRBs. In Public Sector Banks the majority stake is held by the government. After the recent amalgamation of smaller banks with larger banks, there are 12 public sector banks in India as of now.
Detailed explanation-3: -Scheduled banks is a banking corporation whose minimum paid up capital is Rs. 5 lakhs and does not harm the interest of the depositors. Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks.
Detailed explanation-4: -As described by RBI, there are 11 Non Scheduled State Cooperative Banks and 1500 Non-Scheduled Urban Co-operative Banks.
Detailed explanation-5: -Commercial banking covers financial products and services that businesses need, including deposit accounts, loans, lines of credit, payment processing, and more.