bank is a lawful organisation whose basic function is to accept deposit and lends money to individual and business that need it.
TYPES OF BANK
1. scheduled bank - are those which are registered in SCHEDULE 2(E) of RBI act 1934 with minimum paid up capital of Rs.200 crore.
2. non schedule- bank =s which are not listed in rbi schedule.
1. Central bank ( RBI ). CLICK ON LINK TO LEARN ABOUT RBI
2. commercial bank - banking institutions which accepts deposit and grant loans and advances to customer.
it may be public sector bank, private sector or foreign bank.
3. development bank- business require medium and long term capital for purchase of machinery and equipment, for latest technology or for expansion, which in turn provided by the development banks like INDUSTRIAL FINANCE CORPORATION OF INDIA.
4. COOPERATIVE BANKS
5. SPECIALISED BANK- for providing support and over all requirements for setting up business in specific area or activity. eg. EXIM, SIDBI AND NABARD
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TYPES OF BANK
1. scheduled bank - are those which are registered in SCHEDULE 2(E) of RBI act 1934 with minimum paid up capital of Rs.200 crore.
2. non schedule- bank =s which are not listed in rbi schedule.
1. Central bank ( RBI ). CLICK ON LINK TO LEARN ABOUT RBI
2. commercial bank - banking institutions which accepts deposit and grant loans and advances to customer.
it may be public sector bank, private sector or foreign bank.
3. development bank- business require medium and long term capital for purchase of machinery and equipment, for latest technology or for expansion, which in turn provided by the development banks like INDUSTRIAL FINANCE CORPORATION OF INDIA.
4. COOPERATIVE BANKS
5. SPECIALISED BANK- for providing support and over all requirements for setting up business in specific area or activity. eg. EXIM, SIDBI AND NABARD
for article archives click here
