Banking Awareness 2016 Inwards Uncomplicated Linguistic Communication – Lesson 6

Friends, till yesterday inwards our Banking Awareness 2016 in Simple Language lesson series, nosotros induce got learnt well-nigh the Banking System inwards Bharat in addition to consummate details of the Reserve Bank of Bharat (RBI) including it’s Structure, Functions, Methods of Credit Control in addition to it’s policies. From today’s lesson, nosotros shall larn the centre topics of Indian Banking Industry.

Banking Awareness 2016 – Types of Banks

All of us know, the nosotros acquire our coin from our piece of occupation place. Workplace gets coin from Banks. Banks acquire coin from RBI. But create you lot know, who is inwards a higher house RBI ? Which organisation looks afterwards RBI ? It is Finance Ministry. The finance ministry building is an of import ministry building inside the Government of Bharat concerned amongst the economic scheme of India. In particular, it concerns itself amongst taxation, fiscal legislation, fiscal institutions, upper-case missive of the alphabet markets, middle in addition to province finances, in addition to the Union Budget. If you lot desire to depict the types of banks, in addition to then you lot should get-go amongst the Ministry of Finance. Check the below chart.
We already know well-nigh the Ministry of Finance and the Reserve Bank of Bharat (RBI). So permit us know well-nigh the Scheduled Banks in addition to Non- Scheduled Banks. The banks tin survive classified every bit ‘scheduled banks’ in addition to ‘non-scheduled banks’ based on their ‘scheduled status’. A ‘Schedule’ agency a list. A ‘Scheduled Bank’ is a condition conferred on a commercial banking enterprise in addition to a province cooperative banking enterprise past times the Reserve Bank of India. The Reserve Bank of Bharat volition resultant a notification when the banks are included inwards its Second Schedule of the RBI Act 1934. Let’s displace to sympathize the differences inwards uncomplicated points. 
Scheduled Banks
  1. These are listed inwards the 2d Schedule of the RBI Act 1934.
  2. Paid-up upper-case missive of the alphabet in addition to collected funds must non survive less than v lakh.
Non-Scheduled Banks
  1. These are non listed inwards the 2d Schedule of the RBI Act 1934.
  2. Paid-up upper-case missive of the alphabet in addition to collected funds must survive less than v lakh.
    • Ex : “Jammu & Kashmir Bank”
Commercial Banks
Commercial banks may survive defined every bit whatever banking organisation that deals amongst the deposits in addition to loans of describe concern organization. It issues banking enterprise cheques in addition to drafts, every bit good every bit convey money. It besides acts every bit moneylender, past times way of loans in addition to overdrafts.
Public Sector Banks
Public Sector Banks (PSBs) are banks where a bulk province (i.e., to a greater extent than than 50%) is held past times the government. The shares of these banks are listed on stock exchanges. There are a full of 27 PSBs inwards India. [19 Nationalized Banks + vi State Bank Group + 1 IDBI Bank (Other Public Sector Indian Bank) + 1 Bharatiya Mahila Bank.
  1. Allahabad Bank
  2. Andhra Bank
  3. Bank of Baroda
  4. Bank of India
  5. Bank of Maharashtra
  6. Canara Bank
  7. Central Bank of India
  8. Corporation Bank
  9. Dena Bank
  10. Indian Bank
  11. Indian Overseas Bank
  12. Oriental Bank of Commerce
  13. Punjab in addition to SIndh Bank 
  14. Punjab National Bank
  15. Syndicate Bank
  16. UCO Bank
  17. Union Bank of India
  18. United Bank of India
  19. Vijaya Bank
  20. State Bank of India
  21. State Bank of Bikaner & Jaipur
  22. State Bank of Hyderabad
  23. State Bank of Mysore
  24. State Bank of Patiala
  25. State Bank of Travancore
  26. IDBI Bank
  27. Bharatiya Mahila Bank
Important Points to Note :
  • In 2011 IDBI banking enterprise and inwards 2014 Bharatiya Mahila Bank were nationalized amongst a minimum upper-case missive of the alphabet of Rs 500 cr.
  • The merger of v associate banks (State Bank of Bikaner in addition to Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala in addition to State Bank of Travancore) in addition to Bharatiya Mahila Bank into the State Bank of Bharat (SBI) was approved past times Union Cabinet on fifteen June 2016.
  • The India Post Payments Bank (IPPB) is a proposed state-owned commercial banking enterprise inwards India. The banking enterprise would operate the existing network of the public-sector postal service, Bharat Post.

Private Sector Banks

  • These are the banks inwards which bulk of the percentage upper-case missive of the alphabet of hte banking enterprise is held past times private individuals. These banks are registered every bit companies amongst express liability. Ex. ICICI, Axis Bank, HDFC etc.

Foreign Banks

  • These banks are registered in addition to induce got their headquarters inwards a unusual province but operate their branches inwards our country. Ex. HSBC, CITI Bank, Standard Chartered Bank etc.
 Regional Rural Banks
  • RRBs established on 26th September 1975 under the RRB deed 1976. The objective of RRBs is to ensure sufficient institutional credit for agriculture in addition to other rural sectors. As per RRB ACt, 1976. Now authorised upper-case missive of the alphabet of each RRB is to survive v crore & non less than Rs. 25 lakhs. Issued Capital is Maximum of Rs. 1 crore & non less than Rs. 25 lakhs.
  • Note : RRBs are jointly owned past times GOI (Govt of India), the Concerned State Govt. in addition to Sponsor Banks (27 Schedule Commercial Banks in addition to One State Co-operative Banks); the issued upper-case missive of the alphabet of RRB is shared past times the owners inwards the proportion of 50%, 15%, 35% respectively. 
  • “Prathama Bank” is the 1st RRB inwards Bharat located inwards metropolis of Moradabad (U.P). As of today, Total 56 RRBs operationing inwards Bharat & Total Branches 20059, inwards 26 U.S. of A. & UT Puducherry. 
Co-operative Banks
  • A Co-operative Bank is a fiscal entity which belongs to its members, who are the same fourth dimension the owners in addition to the customers of their banking enterprise in addition to oftentimes created past times persons belonging to the same, local or professional person community or sharing a mutual interest. It provides banking in addition to fiscal services on “No-Profit-No-Loss” basis. 
Note
  • Specialist for agriculture & modest scale industry.
  • Governed past times Co-operative Societies Act. 
  • Anyona Co-operative Bank Ltd, (ACBL) is the fist co-operative Bank inwards India. It is located inwards Vadodara (Gujarat). 
  1. UCB (Urban Co-operative Bank) 
    • Primary (Urban) co-operative banks are registered in addition to governed past times province regime but the matters related to banking are governed past times RBI directives every bit this come upwards nether provision of Banking Regulation Act 1949. Traditionally the expanse of UCBs is confined to metropolitan, urban or semi-urban centres in addition to middle to the needs of modest borrowers including SSIs, retail traders, modest entrepreneurs, professionals in addition to the salaried class. 
  2. SCB (State Co-operative Bank)
    • As mention suggests, these are the co-operative banks at the province level. 
    • Note : These come upwards nether 2d schedule of RBI deed – 1934.
That’s all for forthwith friends. In our side past times side mail nosotros shall larn the Headquarters in addition to Taglines of all Public Sector, Private Sector, Foreign in addition to Regional Rural Banks amongst closed to retentiveness tricks. Happy Reading 🙂

Important Note  : As the exams are approaching, I am planning to mail 2 lessons per 24-hour interval from tomorrow. So, delight fix accordingly.  

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