Types Of Commercial Banks In India

A bank dealing with general public accepting deposits from making loans to large numbers of households and firms.

Types of commercial banks in india. Commercial banks in india are usually categorized into scheduled commercial banks and unscheduled commercial banks. Till 1955 the bank was private. So every bank other than rbi is either a scheduled bank or a non scheduled bankhowever on the basis of functions there are five broad categories of banks in india viz. Refer to a type of commercial banks that are nationalized by the government of a country.

Commercial banks are of three types which are as follows. They are governed by the provisions of reserve bank of india act 1934 banking regulation act 1949 and other relevant statutes. In public sector banks the major stake is held by the government. Commercial banks can be further classified into public sector banks private sector banks foreign banks and regional rural banks rrb.

Types of bank in india lecture 2 commercial public sector co operative rrbs and mcq duration. Different types of banks in india their functions in this article we present the types of banks applicable and prevalent in india. They are to be registered as public limited companies under the indian companies act 1956. Central bank rbi commercial banks development banks or development finance institutions cooperative banks and specialized banks.

If you are looking for classification based on functions products or services offered please refer to our article types of banks their functions. A bank is an institution where debts usually referred to as bank deposits are commonly accepted in final settlement of other peoples debts. The scheduled commercial banks. Types and functions of commercial banks of india.

A public sector banks. On the other hand cooperative banks are classified into urban and rural. In the initial years the three presidency banks bank of bombay bank of bengal and bank of madras came together and amalgamated to form on a bank called imperial bank of india. Apart from these a fairly new addition to the structure is payments bank.

Commercial banking is also known as business banking. Some examples commercial banks in india are state bank india sbi punjab national bank pnb etc. India reserve bank of india rbi is the central bank. In india public sector banks operate under the guidelines of reserve bank of india rbi which is the central bank.

A commercial bank is a type of financial intermediary and a type of bank. Some of the indian. It is a bank that provides checking accounts savings accounts and money market accounts and that accepts time deposits.