Various types of bank definition with easy explanation

Friends lets us today know about Various types of banks

          1. Commercial bank - commercial banks are those banks which performs all kind of ordinary banking ,business such as accepting deposits ,advancing loans,credit creations and agency and utility function they are also called joint stock banks because they are setup as a companies under the company act 1956.

         2. Industrial bank - Industrial banks are also known as investment banks. It is those types of bank which specializes in providing medium and long term industries and businesses they are mainly concern with industrial financial activities.

            

           3. Agricultural bank - Agricultural banks are those banks which provides credit to farmers for both short term as well as long term use to gives lifeless agriculture resulting in increase productivity which benefits both the farmer and the country.

            4.Exchange bank - Exchange banks deals in foreign exchange and specialize in financing foreign trade . They fantasize foreign  international payment gateway through sale and purchase of goods of exchange and thus play an important role in promoting foreign trade.

           5.Saving bank - the main purpose of saving bank is promote saving and encourage saving habits among the people and use their saving in useful development bank.

thank u friend i think u like this blog and gain much knowledge in simple word .