BANKING GENERAL KNOWLEDGE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Cooperative banks
|
|
|
Merchant banks
|
|
|
Land Banks
|
|
|
None of the above
|
Detailed explanation-1: -Mutual savings banks are chartered by local or regional governments and do not offer capital stock, but rather the bank is owned by its members, and any profits are shared among its members.
Detailed explanation-2: -Cooperative banks are owned and operated by members, who are its customers. Commercial banks are owned by the and private individuals. Cooperative banks are constituted by different states under different acts. Commercial banks are constituted by a uniform act passed by the parliament.
Detailed explanation-3: -The central cooperative banks are not permitted to borrow or lend among themselves, They finance, control and supervise the central cooperative banks, and, through them, the primary credit societies. State cooperative banks obtain their working capital from own funds, deposits, borrowings and other sources.
Detailed explanation-4: -Structure of Co-operative banks in India The Co-operative Banks in India can be divided into two broad categories. The first is the Urban Co-operative Banks (UCBs) and the second is Rural Co-operative Banks (RCBs). In India, there are 1853 UCBs and 1, 09, 924 BCBS.