Banking information
Banking is no new term to anyone be it homemakers, salaried people, businessmen, farmers, students or any other profession. Especially the Indian homes are well connected with banks and banking. The banking industry takes care of the finances of a country which includes credit and cash. Banks are the backbone of the economy in a country and hence strict rules and regulations are imposed on the modus-operandi of banks. The major transactions that happen at banks are granting credits and accepting deposits from various entities. RBI is the apex body that governs and monitors bank across India. It is responsible for regulating the monetary policy in the country. BANK CLASSIFICATION IN INDIA There are two broad categories under which banks are classified in India- SCHEDULED AND NON-SCHEDULED BANKS. The scheduled banks include COMMERCIAL BANKS AND COOPERATIVE BANKS . The commercial banks include REGIONAL RURAL BANKS, SMALL FINANCE BANK, FOREIGN BANKS, PRIVATE SECT...