Types Of Commercial Banks
Types Of Commercial Banks
Commercial banks are of three types i.e.. Public sector banks, Private sector banks and Foreign banks.
Public Sector Banks:
These are banks where majority stake is held by the Government of India or Reserve Bank of India. Examples of public sector banks are: State Bank of India, Corporation Bank, Bank of Baroda and Dena Bank, etc.
Private Sectors Banks:
In case of private sector banks majority of share capital of the bank is held by private individuals. These banks are registered as companies with limited liability. For example: The Jammu and Kashmir Bank Ltd., Bank of Rajasthan Ltd, Development Credit Bank Ltd, Lord Krishna Bank Ltd., Bharat Overseas Bank Lid.. Global Trust Bank. Vysya Bank, etc.
Foreign Banks:
These banks are registered and have their headquarters in a foreign country but operate their branches in our country. Some of the foreign banks operating in our country are Hong Kong and Shanghai Banking Corporation (HSBC). Citibank, American Express Bank. Standard & Chartered Bank. Grindlay's Bank, etc. The number of foreign banks operating in our country has increased since the financial sector reforms of 1991. According to a report by RBI there are 45 foreign banks branches in India as on January 31.2018.
Development Banks
Business often requires medium and long - term capital for purchase of machinery and equipment, for using latest technology, or for expansion and modernization. Such financial assistance is provided by Development Banks. They also undertake other development measures like subscribing to the shares and debentures issued by companies, in case of under subscription of the issue by the public. Industrial Finance Corporation of India (IFCI) and State Finance Corporations (SFCs) are examples of development banks in India.
Co - operative Banks :
People who come together to jointly serve their Common interest often form a co-operative society under the Co - operative Societies Act. When a co-operative society engages itself in banking business it is called a Co-operative Bank. The society has to obtain a license from the Reserve Bank of India before starting banking business. Any co-operative bank - as a society has to function under the overall supervision of the Registrar. Co-operative Societies of the State. As regards banking business, the society must follow the guidelines issued by the Reserve Bank of India.
Bank having maximum number of branches in India is __________________ | |||
| Right Option : B | |||
| View Explanation | |||
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