Question

which of the following is not a type of banks ?
A) commercial bank
B) Cooperative Bank
C) Central Bank
D) savings bank ​

Answer 1

Answer:

D. savings bank is not a type of bank

Answer 2

A Savings bank is not a type of bank.

• A bank does various functions apart from just savings. There is no particular bank known as a savings bank but there is an account called a savings account.
• A customer can save his money in a savings account and withdraw it through a cheque or card.
• A central bank is a bank for the banks.
• It provides loans to the banks and is responsible for various functions of government policies.
• A commercial bank provides various services to its customers providing various types of loans like house loans business loans etc. It also provides a facility to the current account holders.