Types of bank: Banks are divided into four

Banks are divided into four categories: 1. Commercial Banks. 2. Cooperative Banks. 3. Small Finance Banks. 4. Payments Banks. These were the major bank types, but before we know more about the different types of banks in India, first let us know about the Central bank. In this comprehensive guide, we’ll explore the functions of Indian banks, types of banks including public sector, private sector, foreign banks, RRBs, and payment banks, as well as various Bank accounts and key banking concepts such as RTGS, UPI, IMPS, and more. Central Bank The central bank is the apex bank in the Banking system in our country. The Reserve Bank of India is the central bank of our country. It issues currency notes and acts as a banker’s bank. It controls credit and regulates the credit system of banks. The main objectives of this bank are to provide economic stability in the country. Central banks issues all types of currencies, control all other banks in the country, and function as a bank of government. Learn about the different types of banking services, including commercial, investment, retail, and central banking. Understand how each type serves different financial needs.