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What Is Bank ? Types Of Bank and Account

Introductions to Banking?

What Is Bank?

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets.

A bank is a law of full organization that deposits that can withdraw and it also let’s money to individuals at business houses bank need it.

Types Of Accounts?

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Types Of Bank?

On the basis of the information, the bank is divided in following.

Commercial Bank: It is a financial institution that’s expansion deposit form the people and advances loan to the people known as Commercial Bank. Commercial Bank of India, also known as Exchange Bank was a bank which was established in Bombay Presidency (now Mumbai), in 1845 of the British Raj period. The bank failed in the crash of 1866, after successfully operating for 20 years.

Central Bank:  A bank which is interested in the function of guiding a regulating the banking system of the country are known as Central Bank. Draft legislation for the establishment of Central Bank of Nigeria was presented to the House of Representatives on March 1958. The Act was fully implemented on 1 July 1959 when the Central Bank of Nigeria came into full operations.

Retail Banks: Developed to help individuals not served by commercial banks. Provide basic banking services to individual consumers. These institutions help customers save money, acquire loans, and invest. They also offer a wide range of financial services to a broad customer base. Examples include savings banks, savings and loan associations, and credit unions and examples of products and services include safe deposit boxes, checking and savings accounting, certificates of deposit (CDs), mortgages, and car loans.

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Types Of Commercial Bank?

Public Sector Bank: Where the majority of stake(share) 51% or more in Bank, by Govt. of India. ex- SBI, PNB, CBI, UBI, AB, etc.

Private Sector Bank: Where the majority of share in Bank, capital held by the Private Bank. ex- Axis Bank, ICICI Bank, HDFC Bank, etc.

Foreign Bank: These are the Bank which is registered and have their headquarters in Foreign Country but Co-operate their bank in our country India. ex- Hong Kong Sindhi Bank Corporation (HSBC Bank)

Development Bank: Business offer required medium & long term for the purchase of machinery and equipment for expansion and modernization such financial assistance is provided by Development Bank. ex- Industrial Finance Corporation Bank of India (IFCBI)

Corporation Bank: When people come together to jointly serve their common interest often from a corporative society. Under the corporative Society act. All Society Bank are different-different Our act.

Public Sector Bank:

  1. Allahabad Bank
  2. Andhra Bank
  3. Bank Of Baroda(BOB)
  4. Bank Of India(BOI)
  5. Bank Of Maharastra
  6. Canara Bank 
  7. Central Bank Of India(CBI)
  8. Corporation Bank Of India
  9. Dena Bank
  10. IDBI Bank
  11. Indian Bank
  12. Indian Overseas Bank
  13. Oriental Bank Of Commerce
  14. Punjab & Sindh Bank
  15. Punjab National Bank
  16. State Bank Of India
  17. Syndicate Bank
  18. UCO Bank
  19. Union Bank Of India(UBI)
  20. United Bank Of India
  21. Vijaya Bank

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Public Sector Bank

  1. Axis Bank
  2. Bandhan Bank
  3. Catholic Syrian Bank
  4. City Union Bank
  5. DCB Bank
  6. Dhanlaxmi Bank
  7. Federal Bank
  8. HDFC Bank
  9. ICICI Bank
  10. IDFC Bank
  11. Indusind Bank
  12. Jammu & Kashmir Bank
  13. Karnataka Bank
  14. Karur Vysya Bank
  15. Kotak Mahindra Bank
  16. Lakshmi Vilas Bank
  17. Nanital Bank
  18. RBL Bank
  19. South Indian Bank
  20. Tamilnadu Mercantile Bank
  21. Yes Bank
Ankush Kumar
Namaskar, I'm Ankush Kumar Author & Founder of the SabKuchhSikho.com & Ankuonline.co.in I'm also a Youtuber at youtube channel name (Anku Online), share knowledge related to Banking, Internet, Online, Extra Knowledge, etc, in Hindi languages.
https://www.sabkuchhsikho.com

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