Q.6 Long type question (i). Through light on pollution. ii). Describe the national highways of India? iii). Draw symbol sign to show the following wea condition 1. Fog 2. Hail 3. Snow 4. Rain 5. write the emergency powers power of the presiden (v). what are the man types of banks write. write the Other question answer
Answers
Answer:
(v)Banks are financial institutions that perform deposit and lending functions. There are various types of banks in India and each is responsible to perform different functions.
In terms of the government exam syllabus, a candidate must know the types of banks and the role of each of them in managing the financial system of a country.
The bank takes deposit at a much lower rate from the public called the deposit rate and lends money at a much higher rate called the lending rate.
Banks can be classified into various types. Given below are the bank types in India:
. Central Bank
• Cooperative Banks
Commercial Banks
Regional Rural Banks (RRB) • Local Area Banks (LAB)
Specialized Banks
• Small Finance Banks
Payments Banks
This is an important topic for the IAS Exam. In this article, aspirants will get information on the banking system in India, its functions, and the type of banks in India.
The types of banks in India, their functions and the list of banks under each section forms a very important part of the banking awareness syllabus which is included in most Government exams.
Functions of Banks
The major functions of banks are almost the same but the set of people each sector or type deals with may differ. Given below the functions of the banks in India:
1. Acceptance of deposits from the public 2. Provide demand withdrawal facility
3. Lending facility
4. Transfer of funds 5. Issue of drafts
6. Provide customers with locker facilities
7. Dealing with foreign exchange
Apart from the above-mentioned list, various utility functions also need to be performed by the various banks.
