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Banks in India are run by all sectors,Viz.,
1.Government owned
2.Privately owned
3.Foreign owned.
Central bank in India is known as Reserve Bank ( R B I ).
RBI regualtes and controls the Financial policies the banking Industry as a whole.
www.rbi.org.in
For a list of banks operating in India please refer to links.
Banks in India Perform the following key functions :
1.Acceptanace of Deposits
2.Disbursal of Loans
3.Rendering of Banking and allied services.
Deposits :
Banks accept deposit under various schemes
1. Savings Account
2.Recurring Deposit
3.Fixed Deposit
4.Deposits under reinvestment plans etc.,
Rate of interest paid on the deposit account varies with type and period of deposit.
Business enterprises are allowed to have
1.Current Accounts
2. Term Deposit accounts.
Loans :
Various loans are offered by the banks to customers who are individuals as well as business units. Loans fall under the following categories :
1.Business Loans
2. Personal Loans
3.Home Loans
4.Education Loans
5.Jewel Loans
6.Vehicle Loans
7.Agricultural Loans
The rate of interest,Security and repayment terms would vary from loan to loan.
Check the resources section.
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