Indian Banks Of Types

Bank Of Types

There are various types of of banks which operate ini will country to me da da financial requirement of different categories of people engaged in agriculture ,business, profession etc.

under basic over functions the banking institutions in india maybe divided into the following types :

1. Central bank  bank of india

2. Commercial banks

  - public sector banks

  -  private sector banks

  -  Foreign banks

3. Development banks (IFCI,SFCs )

4. Co-operative Bank

  - primary credit societies

  - Central co-operative Bank

  - state co-operative Bank

5. Specialised banks ( EXIM BANK, SIDBI, NABARD )

CENTRAL BANK :-

A bank which is entrusted with the functions of guiding and regulating the banking system of a country is known as it's central bank, such a bank don't deal with the general public.

It acts essentially as government  banker, maintain deposit account of all banks and advance money to others banks, when needed.

The Central bank provided guidance to others banks whenever they face any problem. It is therefore  known as the banker's bank.

The Reserve bank of india is the dental bank of other country. Devendra bank maintains record of government revenue and expenditure under various heads.

It also advises the government on monetary and credit policies and decides on the interest rates for bank deposits and bank loans.

In addition, foreign exchange rates are also determined by the Central bank. Another important function of the Central bank is the issuance of currency notes, regulating their circulation in the country by different methods.

No other bank than the Central bank can issue currency.