2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Big Bank
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Payment Bank
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Small Bank
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Bad Bank
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Detailed explanation-1: -Differentiated banks are banking institutions that are licensed by RBI to provide specific banking services and products. Differentiated banks are distinct from universal banks as they function in a niche segment. One of the major objectives to create differentiated banks is to promote financial inclusion and payments.
Detailed explanation-2: -What is an Asset Reconstruction Company (ARC)? It is a specialized financial institution that buys the Non-Performing Assets (NPAs) from banks and financial institutions so that they can clean up their balance sheets.
Detailed explanation-3: -The 4 different types of banks are Central Bank, Commercial Bank, Cooperative Banks, Regional Rural Banks. You can read about the Types of Banks in India – Category and Functions of Banks in India in the given link.
Detailed explanation-4: -The Reserve Bank of India is the central bank of the country. Central banks are a relatively recent innovation and most central banks, as we know them today, were established around the early twentieth century. The Reserve Bank of India was set up on the basis of the recommendations of the Hilton Young Commission.