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Question
Public Banks are the banks which are ______.
Options
owned and controlled by the Government.
owned and controlled by private businessmen.
owned and controlled by foreign banks.
owned by central bank.
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Solution
Public Banks are the banks which are owned and controlled by the Government.
Explanation:
Public sector banks are financial institutions in which the government (either central or state) has the majority stake, usually more than 51% of the total share capital. These banks are generally governed by government regulations and policies that promote social welfare, assure national financial inclusion, and drive economic development rather than maximising business profits.
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