Bank Taiyari

BANK | G.A | Indian Banking Industries | Definition

Indian Banking Industries | Definition
Written by SarkariNotes

BANK | G.A | Indian Banking Industries | Definition:- Hello friends, welcome back to Sarkarinotes.com. As mentioned in the last post, today we will study about banks and Non Banking Financial Companies . Without further due, let’s begin.

How to Prepare for Bank Exams in HindiClick Here

INDIAN BANKING INDUSTRIES

“Bank is a financial institution which accepts deposits, provide loans and issue, pay & collect cheques and demand drafts for the bank’s customers. “

NOTE: Definition of Bank  is defined in SECTION 5(b) of the BANKING REGULATION ACT, 1949.


   SIMILARITIES BETWEEN BANKS AND NBFC’s

 

Below are the list of similarities between work of banks and work of non banking financial companies:

  • ACCEPTING DEPOSITS
  • FIXED INTEREST    
  • PROVIDING LOANS
  • TERM DEPOSITS

DIFFERENCE BETWEEN BANKS AND NBFC’s

  • BANKS can issue cheque/demand deposits but NBFC’s can not.
  • BANKS allow demand drafts but NBFC’s do not.

EXAMPLE OF BANK

  • STATE BANK OF INDIA
  • BANK OF BARODA
  • PUNJAB NATIONAL BANK
  • UNION BANK OF INDIA

EXAMPLE OF NBFC’s:

  • MUTHOOT FINANCE
  • SAHARA FINANCE
  • LIC Housing Finance Ltd.
  • HDFC Ltd.

DEFINITION OF BANK CONCLUSION

Nbfc and bank both are financial companies. But the major difference is unlike banks nbfc can not issue self drawn cheques and demand draft. nbfc stands for non banking financial company as the name suggests nbfc is not a bank ,perform only lending functions to public and nbfc cannot accept deposits from public .

So, that’s it for today. Tomorrow we will discuss about TYPE OF BANKS.
Thank you for visiting & learning with us.
Share with your friends who are preparing for bank examinations & keep supporting us!

You May Like This:-

जरुर पढ़ें :- दोस्तों अगर आपको किसी भी प्रकार का सवाल है या ebook की आपको आवश्यकता है तो आप निचे comment कर सकते है. आपको किसी परीक्षा की जानकारी चाहिए या किसी भी प्रकार का हेल्प चाहिए तो आप comment कर सकते है. हमारा post अगर आपको पसंद आया हो तो अपने दोस्तों के साथ share करे और उनकी सहायता करे. आप हमसे Facebook Page से  भी जुड़ सकते है Daily updates के लिए.

About the author

SarkariNotes

Leave a Reply