BANKING AFFAIRS

Detailed explanation-1: -Universal banking is a term for banks that offer a variety of comprehensive financial services, including both commercial banking and investment banking services.

Detailed explanation-2: -According to the commercial bank definition, it is a financial institution whose purpose is to accept deposits from customers and lend out loans. What is commercial bank types? Public sector banks, private sector banks, and regional rural banks are the types of commercial banks.

Detailed explanation-3: -Investment banks handle large amounts of money and advise their clients about sound investments. Commercial banks handle day-to-day financial transactions and smaller credit requests for mostly non-public borrowers.

Detailed explanation-4: -Commercial banks, known as universal banks, provide a staggering array of services all under one roof. In contrast, a commercial bank offers necessary services, including customer deposits, disbursing loans, locker facilities, demand draughts, credit cards, and remittance services.

Detailed explanation-5: -Hence, Industrial banks are also known as investment banks.