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Types of Bank in india (Lecture #2) Commercial ; Public sector ; co-operative ; RRB'S and MCQ Video Lecture | Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi) - Banking Exams

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FAQs on Types of Bank in india (Lecture #2) Commercial ; Public sector ; co-operative ; RRB'S and MCQ Video Lecture - Banking Awareness for IBPS/SBI/LIC/Insurance exams (Hindi) - Banking Exams

1. What is a commercial bank in India?
Ans. A commercial bank in India is a type of bank that provides financial services to individuals, businesses, and organizations. It accepts deposits, offers loans and credit facilities, and provides various other banking services such as ATM cards, internet banking, and mobile banking. Commercial banks are profit-oriented and are regulated by the Reserve Bank of India (RBI).
2. What is a public sector bank in India?
Ans. A public sector bank in India is a bank that is owned and controlled by the government. These banks are established under the provisions of the Banking Companies Act, 1970/1980. Examples of public sector banks in India include State Bank of India (SBI), Punjab National Bank (PNB), and Bank of Baroda (BOB). These banks play a crucial role in the financial inclusion and development of the country.
3. What is a co-operative bank in India?
Ans. A co-operative bank in India is a financial institution that is owned and operated by its members, who are both depositors and borrowers of the bank. These banks are established under the provisions of the Co-operative Societies Act. Co-operative banks aim to provide affordable financial services to their members and promote the cooperative movement in the country.
4. What are RRBs (Regional Rural Banks) in India?
Ans. Regional Rural Banks (RRBs) in India are banks that are established with the primary objective of providing banking services in rural areas. These banks are jointly owned by the government, the concerned state government, and a sponsoring bank. RRBs play a crucial role in bringing banking services to the rural population, promoting agriculture, and rural development.
5. What is the difference between a commercial bank and a cooperative bank in India?
Ans. The main difference between a commercial bank and a cooperative bank in India lies in their ownership and operation. A commercial bank is owned by shareholders and operates with the primary objective of making profits. On the other hand, a cooperative bank is owned and operated by its members who are depositors and borrowers of the bank. Cooperative banks aim to provide affordable financial services to their members and promote the cooperative movement.
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