Importance of Banks: How Many Categories of Banks?


Banks play an important role to maintain the economy of the country and here we will have some discussion over the government banks. The knowledge is beneficial for whom who are looking to have their saving account in any government bank. Apart from that there are lots of aspirants who prepare of government exam and hence they can gather knowledge about the banks. Further, each bank has their own website and all the relevant information is available is available over there.

Categorization of the Banks:

  1. Nationalized Banks
  2. Foreign Banks
  3. Regional Rural Banks
  4. State Bank and Its Associates
  5. Private Sector Banks

Banks are the financial centres that keep your money safe from all the threats of the society. Apart from that, people get interest through banks on their savings. Each and every bank facilitates lots of features through which they secure the financial life of the individual.

Importance of Banks - Categories of Banks

Moreover, banks provide loan so that people could buy land, home and vehicle etc… for their comfortable survival. The capital and economic condition of any country is measured by the performance of the banks and there are so many people who keen to invest only in government banks of the nation.