The bank is a financial institution witch performs various Operations like Cash Deposit and Cash lending to the Customers. Banks lends money to there customers who need money and earn Interest on it . Major Sorce of income of the bank is Interest.
Some banks also provide Credit card and earn Interest on EMI
Type of bank in India
There are two types of bank in India by sector .
- Public sector bank (Government Owned) : Public sector banks are major type of bank in India. The shares of these banks are listed on stock exchanges and most importantly more than 50% of shares are held by Government of India. Presently there are 12 Public sector banks in India.
For Example : State bank of India , Punjab National Bank
- Private Sector : Private Sector banks are run by any individual Or any Private Intuitions and majority of shares held by them.
For Example : HDFC Bank , ICICI Bank
All India financial institutions regulated by rbi, for instance Banks , NBFI (non banking financial institutions)
Services Offered by Bank In India
Services Offered by banks in India
- Individual Banking (checking accounts, savings accounts, debit/credit cards, etc.)
- Business Banking (merchant services, checking accounts and savings accounts for businesses, treasury services, etc.)
- Loans (business loans, personal loans, home loans, automobile loans, working-capital loans, etc.)