11th commerce book
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Types of bank
Banks can be classified into various types. Given below are the bank types in India:- Central Bank Cooperative Banks Commercial Banks Regional Rural Banks (RRB) Local Area Banks (LAB) Specialized Banks Small Finance Banks Payments Banks Functions of Banks The major functions of banks are almost the same but the set of people each sector or type deals with may differ. Given below the functions of the banks in India: Acceptance of deposits from the public Provide demand withdrawal facility Lending facility Transfer of funds Issue of drafts Provide customers with locker facilities Dealing with foreign exchange
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