GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Co-operative banks are ____?
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Joint-sector banks
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Public sector banks
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Private sector banks
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All of the above
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Explanation:
Detailed explanation-1: -No, a cooperative bank is not a private bank. You can read about the List of Co-operative Banks in India in the given link.
Detailed explanation-2: –There are public-sector commercial banks as well as private-sector commercial banks, but cooperative banks are only private in nature.-While commercial banks provide loans to businessmen, entrepreneurs, and to companies for trade and commerce, cooperative banks usually cater to the needs of farmers.
Detailed explanation-3: -A co-operative bank is a small-sized, financial entity, where its members are the owners and customers of the Bank. They are regulated by the Reserve Bank of India (RBI) and are registered under the States Cooperative Societies Act.
There is 1 question to complete.