Which of these is not a commercial bank of India? (2024)

FAQs

Which of these is not a commercial bank of India? ›

The correct option is B Reserve Bank of India.

The Reserve Bank of India is not a commercial bank because it is the central bank of India with the authority to issue currency in the country.

The Reserve Bank of India is the central bank and does not transact directly with public. It is not a commercial bank, while the rest of the banks are. Q.

A non-commercial bank is commonly a bank that doesn't offer ordinary retail banking services. They are sometimes called private banks, or investment banks. These banks will offer limited services to high-net-worth individuals or corporations, particularly in the world of investment or asset management.

As described by RBI, there are 11 Non Scheduled State Cooperative Banks and 1500 Non-Scheduled Urban Co-operative Banks.

Classification of Banks in India

Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural. Apart from these, a fairly new addition to the structure is a payments bank.

Public Account Deposit is not accepted by commercial banks.

The correct answer is State Bank of India. A Commercial Bank is a financial institution that accepts deposits, offers checking and savings account services and make loans.

What is commercial bank types? Public sector banks, private sector banks, and regional rural banks are the types of commercial banks. What is commercial bank functions? The basic functions are accepting deposits, lending out loans, transfer of money, and discounting bills of exchange.

Which is India's first commercial bank? ›

Oudh Commercial Bank or Awadh Commercial Bank was an Indian bank established in 1881 in Faizabad and operated until 1958 when it failed. It was the first commercial bank in India having limited liability and an entirely Indian board of directors.

SBI is the largest commercial bank of India. SBI stands for State Bank of India.

About HDFC Bank

The bank commenced operations as a Scheduled Commercial Bank in January 1995. On April 4, 2022 the merger of India's largest Housing Finance Company, HDFC Limited and the largest private sector bank in India, HDFC Bank was announced.

Financial Institutions India

Banks are classified into 4 broad categories – Commercial Banks, Small Finance Banks, Payment Banks and Co-operative Banks. Commercial Banks are further classified into Public sector banks and Private sector banks. There are total of 91 commercial banks operating in India.

A commercial bank is the one that lends money to potential borrowers, accepts deposits, offers other banking services , opening savings account and other small business. Non commercial bank is also referred to as investment bank offers money on long term basis and doesn't contribute to credit creation.

Banks in India are classified into four types – the central bank, commercial banks, specialised banks and cooperative banks. The Reserve Bank of India is India's central bank. The main function of the central bank in a country is to regulate all the other banks, thus acting as an apex body for the economic sector.

ICICI bank is a private commercial bank, which was originally established as a bank for industrial credit and then later restructured to operate as a full-fledged commercial bank. ICICI bank is a _______. Mention one main difference between a central bank and a commercial bank.

Philippine National Bank (PNB) was incorporated on July 22, 1916 to engage in the general commercial banking business.

Paytm Payments Bank (PPBL) is an Indian payments bank, founded in 2017 and headquartered in Noida. In the same year, it received the license to run a payments bank from the Reserve Bank of India and was launched in November 2017. In 2021, the bank received a scheduled bank status from the RBI.