Question

Give a brief description of different types of bank account

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Answer 1

Answer:

Each type usually specializes in a particular kind of business. We can, therefore, distinguish the different banks according to the functions .

Step-by-step explanation:

Commercial banks are of three types' i.e. public sector banks, private sector banks, and foreign banks. 4. Co-operative Banks: -Co-operative banks are financial institutions registered under the co-operative societies Act. The main objective of such a bank is to give credit to economically backward people.

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