Question

Identify the type of Bank being talked about in each of the following statements:
i. The commercial Bank where the majority of share capital is held by
the private individual.
ii. The Bank that provides assistance and guidance for export of products
abroad.
iii. The Bank formed by a group of people to serve their common interest.
iv. The Bank that issues currency notes.
v. The commercial Bank where the Government holds majority stake.

Answer 1

Explanation:

i. The commercial Bank where the majority of share capital is held by

the private individual.  - Private Sector banks

ii. The Bank that provides assistance and guidance for export of products

abroad - Export Import Bank of India (EXIM Bank):

iii. The Bank formed by a group of people to serve their common interest - . Co-operative banks

iv. The Bank that issues currency notes - The Central Bank, (RBI).

v. The commercial Bank where the Government holds majority stake - Public Sector Banks.