BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unit banking
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chain banking
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group banking
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branch banking
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Detailed explanation-1: -Central bank is an apex bank that controls the entire banking system of a country. Central bank has monopoly rights of issuing notes of all denominations. This is called currency authority function of central banks.
Detailed explanation-2: -The 4 different types of banks are Central Bank, Commercial Bank, Cooperative Banks, Regional Rural Banks.
Detailed explanation-3: -A banking system is a collection of institutions that provides us with financial services. These organizations are in charge of running a payment system, making loans, accepting deposits, and assisting with investments. The features of the Indian banking system are: Deals with Money. Provides Loans.
Detailed explanation-4: -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.