Which of the following bank is not a commercial bank? (2024)

FAQs

Which of the following is not a commercial bank? ›

The Reserve Bank of India is the central bank and does not transact directly with public. It is not a commercial bank, while the rest of the banks are. Q.

A non-commercial bank is commonly a bank that doesn't offer ordinary retail banking services. They are sometimes called private banks, or investment banks. These banks will offer limited services to high-net-worth individuals or corporations, particularly in the world of investment or asset management.

Solution: Issuing currency is not the function of commercial banks. The main function of the Reserve Bank of India is to issue currency. A commercial bank is a financial institution that carries out all the operations regarding deposits, withdrawal of money, loans, and other activities.

Deposits are not included in the assets of a commercial bank in India.

Commercial Banks can be further classified into public sector banks, private sector banks, foreign banks and Regional Rural Banks (RRB). On the other hand, cooperative banks are classified into urban and rural. Apart from these, a fairly new addition to the structure is a payments bank.

Answer and Explanation:

A payday lender is not a bank. Short-term borrowing is characterized by a high interest rate where the lender provides loans to the borrower. It helps to cover immediate cash needs until we get our paycheck.

A commercial bank is the one that lends money to potential borrowers, accepts deposits, offers other banking services , opening savings account and other small business. Non commercial bank is also referred to as investment bank offers money on long term basis and doesn't contribute to credit creation.

The 4 different types of banks are Central Bank, Commercial Bank, Cooperative Banks, Regional Rural Banks. You can read about the Types of Banks in India – Category and Functions of Banks in India in the given link.

The correct answer is State Bank of India. A Commercial Bank is a financial institution that accepts deposits, offers checking and savings account services and make loans.

Which is a function of a commercial bank? ›

Answer: The primary functions of a commercial bank are accepting deposits and also lending funds. Deposits are savings, current, or time deposits. Also, a commercial bank lends funds to its customers in the form of loans and advances, cash credit, overdraft and discounting of bills, etc. Q2.

What is Commercial Bank? A commercial bank is a kind of financial institution that carries all the operations related to deposit and withdrawal of money for the general public, providing loans for investment, and other such activities. These banks are profit-making institutions and do business only to make a profit.

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.

Licensed under the Banking Regulation Act, 1949, on July 11, 1959, the Bank went on to become a scheduled commercial bank on July 20, 1970. Want to know more?

It started operations in 1981 and became a commercial bank on January 19, 1982.

Types of Commercial Banks:

Such as Housing Development Finance Corporation (HDFC) Bank, Industrial Credit and Investment Corporation of India (ICICI) Bank, Yes Bank, and more such banks. Public bank –: It is a type of bank that is nationalised, and the government holds a significant stake.

A commercial bank is a financial institution that provides services like loans, certificates of deposits, savings bank accounts bank overdrafts, etc. to its customers. These institutions make money by lending loans to individuals and earning interest on loans.