Exploring Different Types of Bank in India


                                                       




Original Content- Business Upside India 

In India, organized banking first appeared in the late 1800s. The earliest profit-oriented bank in the nation is the “Bank of Calcutta,” which was established in 1806 and is referred to as the “State Bank of India.” There are 34 types of banks in India, including 12 banks in the public sector and 22 banks in the private sector. Different types of banks have promoted saving and helped the nation’s economy.

How Many Types of Banks in India?

Depending on the tasks they complete and the authorities they interact with, there are many sorts of banks. The following are types of banks in India:

  • Central Bank

The Reserve Bank of India is the governing body of our nation. Every nation does have a central bank that regulates all other financial organizations.

  • Cooperative Banks

A state law that has been passed regulates these institutions. They offer short-term loans to businesses in the agricultural and associated sectors.

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