- Central Bank: Issues currency, controls credit, and acts as banker to the government and other banks (e.g. RBI).
- Commercial Banks: Accept deposits from the public and give short-term loans for trade and business.
- Industrial Banks: Provide long-term loans to industries for machines, buildings, and development.
- Agricultural & Rural Banks: Give short, medium, and long-term loans to farmers and rural people at low interest.
- Co-operative & Savings Banks: Encourage saving habits and provide credit to small farmers, traders, and societies.
- International & EXIM Banks: Provide finance for international trade and development projects (e.g. World Bank, EXIM Bank).
Key Points
Key Points: Types of Bank
Important Questions [4]
- What is a Central Bank?
- 'Rita' was using a plastic card to withdraw money from a machine set up outside the bank. Identify the card. Write any four precautions that must be taken while using such a card.
- Write a short note on False Accounting Fraud.
- Faking accidents, faking death, concealing information for health care are examples of ______ fraud.
