BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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through a single office
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through a few branches operating within a limited area
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Both B and C
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All of the above
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Detailed explanation-1: -Unit banking refers to a single, usually very small bank that provides financial services to its local community. Typically, a unit bank is independent and operates without any connecting banks or branches in the area.
Detailed explanation-2: -Branch banking is a system of providing banking services through different offices of a bank that acts as the head branch. The idea is to expand the bank’s business to cater to different locations and provide services to all its customers.
Detailed explanation-3: -Exchange Banks: They also buy and sell foreign currencies and help businessmen to convert their money into any foreign money they need. Their share in the internal trade of a country is usually small. In addition, they carry on ordinary banking business too.
Detailed explanation-4: -The banking system of India consists of the central bank (Reserve Bank of India-RBI), commercial banks, cooperative banks and development banks (development finance institutions). These institutions, which provide a meeting ground for the savers and the investors, form the core of India’s financial sector.