Question

Which of the following is an example of Special Banks? A) Exim Bank B) Syndicate Bank C) Cooperative bank D) Yes Bank

Answer 1

Answer:

An example of special Banks is-A)Exim Bank

Answer 2

In this case,the correct answer would be option A) or Exim Bank or Export Import Bank.

Explanation:

• Special or specialized banks are characterized as banks or financial institutions which does not operate as any other commercial banks and are specialized in banking activities to support a particular economic sector or industry such as manufacturing,international or domestic trade,agriculture,real estate,service sector industries etc.
• It does not involve in regular banking services or facilities offered by other commercial banks such as accepting demand deposits of withdrawals pertaining to any particular economic activity or conduct.
• Exim Bank or Export Import Bank is basically specialized in supporting the international and domestic trade or commercial activities in the country such as offering financial or economic support or assistance to various export and import companies and trade related activities and initiatives in the country.Therefore,it has been identified as a special category bank or specialized bank in the country.