Question

How many types of scheduled commercial banks are mentioned as operating in India?

Options

• Two types: Public and Private Sector Banks

• Three types: Public, Private, and Cooperative Banks

• Four types: Public Sector Banks, Regional Rural Banks, Private Sector Banks, and Foreign Banks

• Five types: Central Bank and four other types

Answer 1

Four types: Public Sector Banks, Regional Rural Banks, Private Sector Banks, and Foreign Banks

Explanation: 

India has 89 scheduled commercial banks classified into four groups: Public Sector Banks, Regional Rural Banks, Private Sector Banks, and Foreign Banks.