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Introduction to the Indian Banking Sector

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Introduction to the Indian Banking Sector

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Questions and Answers

Which type of bank in India is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934?

Public Sector Banks

Foreign Banks

Private Sector Banks

Scheduled Commercial Banks (correct)

Which type of bank in India is majority-owned by the government of India?

Public Sector Banks (PSBs) (correct)

Private Sector Banks

Foreign Banks

Cooperative Banks

Which type of bank in India is owned and managed by private entities or individuals?

Private Sector Banks (correct)

Scheduled Commercial Banks

Cooperative Banks

Public Sector Banks (PSBs)

Which type of bank in India operates under the regulations set by the RBI but is headquartered in foreign countries?

<p>Foreign Banks</p> Signup and view all the answers

Which type of bank in India functions on a cooperative basis and caters to the financial needs of individuals and businesses in specific regions or communities?

<p>Cooperative Banks</p> Signup and view all the answers

Study Notes

Banking in India

Banks listed in the 2nd Schedule of the Reserve Bank of India Act, 1934 are Scheduled Banks.

Ownership of Banks in India

Public Sector Banks are majority-owned by the government of India.
Private Sector Banks are owned and managed by private entities or individuals.

Foreign Banks in India

Foreign Banks operate under the regulations set by the RBI but are headquartered in foreign countries.

Cooperative Banking in India

Cooperative Banks function on a cooperative basis and cater to the financial needs of individuals and businesses in specific regions or communities.

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Description

Learn about the crucial role of the Indian banking sector in the country's economy and the various types of financial institutions it encompasses, including commercial banks, cooperative banks, regional rural banks, and specialized financial institutions.