Types of Banks in India & Banking Regulation Act

What is the primary financial institution of a country responsible for monetary policy and regulating other banks?

• Central Bank

• Commercial Bank

• Private Sector Bank

• Scheduled Bank

What are the banks recognized and regulated by the Reserve Bank of India called?

• Scheduled Banks

• Commercial Banks

• Private Sector Banks

• Foreign Banks

What type of banks are owned and controlled by the government of India?

• Public Sector Banks

• Private Sector Banks

• Foreign Banks

• Scheduled Banks

What are the two primary categories of co-operative banks?

• Urban Co-operative Banks

• Rural Co-operative Banks

What are the advantages of co-operative banks?

• Lower interest rates

• Limited services

• Risk of mismanagement

What is a disadvantage of co-operative banks?

• Limited services

• Lower interest rates

What is Islamic banking?

• A financial system that adheres to Islamic law.

• A system that charges high interest rates.

• A type of commercial banking.

• A system that only operates in the Middle East.

What are the key features of Development Banks?

• They provide short-term loans.

• They focus on economic development.

• They only serve large corporations.

• They do not collaborate with other banks.

What is the primary function of Exim Banks?

• To facilitate international trade.

• To provide personal loans.

• To manage local investments.

• To offer savings accounts.

What is NABARD?

• A bank focused on rural development.

• A commercial bank.

• An investment bank.

• A foreign bank.