Q: What are the types of banking in India ?

Ans: Following are the types of banking in India :

1. Central Bank

2. Commercial Banks
a) Private Sector Banks
b) Public Sector Banks
c) Regional Rural Banks
d) Foreign Banks

3. Co-operative Banks
a) State Co-operative Banks
b) Urban Co-operative Banks

4. Payments Banks
5. Scheduled Banks
6. Non-Scheduled Banks
7. Small Finance Banks

Generally, Commercial Banks like Private Sector Banks and Public Sector Banks have Merchant Banking in India.

Scheduled banks is a banking corporation whose minimum paid up capital is Rs. 5 lakhs and does not harm the interest of the depositors. Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks.

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