GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following is not classified as a commercial Bank?
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Foreign Bank
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Private Sector Bank
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Regional Rural Bank
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Co-operative Bank
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Explanation:
Detailed explanation-1: -The Reserve Bank of India is not a commercial bank because it is the central bank of India with the authority to issue currency in the country.
Detailed explanation-2: -Ans. In India, both commercial and cooperative banks are scheduled banks with the same functions such as deposits banking and advances. Commercial banks are operated by shareholders, while cooperative banks are owned by members of cooperative societies. The banking regulation act of 1949 regulates both. .
Detailed explanation-3: -Expert-Verified Answer. A Savings bank is not a type of bank.
There is 1 question to complete.