Business Studies, asked by muski4354, 1 year ago

Difference between public sector banks and regional rural banks

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Answered by TheRose

Nationalisation of the bank was done in the year 1969 for the purpose of making credit available to the productive sectors (such as agriculture and SME) of the economy. Before that all banks, except SBI which got nationalised in 1955, were managed by private houses and these banks use to lend mainly to big corporates. Therefore, GOI nationalised 14 banks in 1969 and other 6 banks in 1980. These banks were relatively of the bigger size.

Despite of the bank nationalisation, GOI felt that there shall be specialised institutions for rural lending. Cooperative banks have been doing rural banking for decades but these were managed very non-professionally (have political influence too) and had corruption.
as mix of rural character and professionalism of the commercial banks keeping the shareholding

Answered by XxMissPaglixX

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$..(1) Classification on the Basis of OwnershipOn the basis of ownership, banks are of the following types:() Public Sector Banks: Public sector banks are those banks which are owned by thegovernment. The government runs these banks. In India 20 banks (14+6) were nationalisedin 1969 and 1980 respectively. All these banks now belong to the public sector category.Social welfare is their principal objective.(ii) Private Sector Banks: Private sector banks are those banks which are owned and run by the private sector. Various banks in the country such as Vijaya Bank belong to this category. An individual has control over these banks in proportion to the shares of the banks held by him...$

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