Indian Banking system

The Indian banking system is a complex and dynamic sector that plays a crucial role in the country's economy. Here are some key aspects of the Indian banking system Types of Banks 1. Scheduled Commercial Banks: These include public sector banks, private sector banks, and foreign banks. Public sector banks are owned by the government, private sector banks are privately owned, and foreign banks operate in India as subsidiaries or branches. 2. Regional Rural Banks (RRBs): These banks focus on rural and agricultural development. 3. Cooperative Banks: These banks are organized as cooperative societies and operate at the state, district, and local levels. Regulatory Bodies 1.Reserve Bank of India (RBI): The central banking institution in India, responsible for monetary policy, currency issuance, and regulation of the banking sector. 2.Banking Regulation Act, 1949: Governs the banking sector in India, and the RBI uses this act to regulate and supervise banks. Public Sector B...