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All Indian Bank Name List PDF Details
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| PDF Name |
All Indian Bank Name List
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| No. of Pages | 03 |
| PDF Size | 81.4KB |
| Language | English |
| Category | Banking & Finance |
| Source | pdfhunter.com |
All Indian Bank Name List
The banking sector is the backbone of a country’s economy since it directly affects inflation, deflation, and other elements that have a significant impact on the economy. In India, there are various sorts of banks that can be classified according to the type of business they conduct. We shall list all banks that have been approved by the Reserve Bank of India to conduct banking activities in India in this page.
Types of Banks
Commercial Bank – Commercial banks are the most popular banks that pay interest on all of our money, which means that these banks typically provide customers savings accounts as well as interest-bearing loans. The Bank’s major source of revenue is the repayment of the loan amount plus interest.
Payments Bank – Payment Bank is a new bank system that was created to fill the void left by the absence of a payment-based bank. Prior to the establishment of the payment bank, cash was the only mode of payment at shops and local stores; however, after the advent of the payment bank, the usage of the digital method of payment has increased. NSDL Payment Bank, India Post Payment Bank, Paytm Payments Bank, and Jio Payments Bank are the four payment banks that exist right now.
Cooperative bank – Both the Cooperative Bank and the Commercial Bank are scheduled banks that perform comparable functions. The scope of business and the heads of operations differ between the two banks. A cooperative bank is a small bank with a cooperative society as its operating head, whereas a commercial bank operates on a big scale with branches all throughout the country and is owned by its shareholders.
Small Finance Bank – Small finance banks are banks that provide banking services such as saving and lending to persons who are unable to access large banks. These banks are mostly concerned with rural areas with a smaller population.
Foreign Bank – Foreign banks, as the name implies, are banks with branches in India but headquarters outside of the country. Citibank, Standard Charters Bank, and Bank of America are some of the most well-known foreign banks in India.
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