types of bank ?

Various types of a bank exist in the world we discussed all these types in this post and we also discussed the modern online banks like Paytm bank.

according to the oxford dictionary :

" Banks is an establishment for custody of money, which it pays out on customer order "


the bank is the institution that deals in money and credit. a bank accepts the money in the form of deposit and lending in the form of credits and loans.


there are many types of banks in the world like


  • central bank: It is the apex bank of the banking structure of the country.central bank maintain the economic stability of the country EX: In India, The Reserve Bank of India, in England, The Bank of England and in America the Federal Reserve Bank are the Central Banks

  • commercial banks: These banks accept deposits and lending money for earning interest. EX: all public sector banks, private sector banks, and foreign banks

  • development banks: This type of bank help to small scale businesses for growing there countries economy.

  • co-operative banks: The main motive of these type of bank is providing a loan to backward people in the society types in this bank bellow (1) primary credit society (2) district central co-operative society (3) state co-operative banks

  • specialized banks: this bank made for the special purpose (1) export and import bank of India (2) small industries development bank of India (3)national bank of agriculture and rural development (NABARD)

  • regional rural bank: mostly work in a rural area for developing country

  • exchange banks: it helps in the foreign trade

  • indigenous banker: this type of bank deal in the hundis and promissory note

  • saving bank: this bank work in small saving and fixed deposits

SOME OTHER BANK ALSO WORK LIKE BANKS BUT THIS NOT BANKS

  • PAYPAL

  • PAYTM

  • AMAZON PAY

this type of software and application provides the only system of payment but sum providers give the interest when you deposited into his wallet