Types of bank in india
Types of bank in india Banks are classified into classified into four categories – Commercial Banks Small Finance Banks Payments Banks Co-operative Banks Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural. Apart from these, a fairly new addition to the structure is payments bank. Commercial Banks Commercial Banks are regulated under the Banking Regulation Act, 1949 and their business model is designed to make profit. Their primary function is to accept deposits and grant loans to the general public, corporate and government. Commercial banks can be divided into- Public Sector Banks Private Sector Banks Foreign Banks Regional Rural Banks Public Sector Banks These are the nationalised banks and account for more than 75 per cent of the total banking bus...