Scheduled Commercial Bank.
The scheduled commercial banks are those banks which are included in the second schedule of RBI Act 1934 and which carry out the normal business of bank, such as accepting deposits, giving out loans and other banking services. The major difference between Scheduled Commercial Banks and Scheduled Cooperative Banks is their holding Pattern. The cooperatives are registered under the Cooperative Societies Act, as cooperative credit institutions.Scheduled Commercial Banks can be further divided into four groups
- Public Sector Banks : This includes
(1) SBI (2) 17 Nationalized Banks 3) Other Public Sector Banks
- Private Banks.
- Foreign Banks
- Regional Rural Banks,
Cooperative Banks: Cooperative banking is retail and also commercial banking organized on a co-operative basis. They include credit unions, savings, and loans associations and building societies and cooperatives. They are governed by controls of the RBI as well as state governments.
- Co-operative sector banks (1) Central Co-operative Bank. (2) State Co-operative Banks (3) Land Development Banks (4) Primary agriculture Credit Societies (5) urban Co-operative Bank (6) State Land Development Bank
New Private Sector Banks: The new private sector banks were incorporated as per the revised guidelines Issued by the RBI, regarding the entry of private sector banks in 1993. At present, there are seven new private sector banks as follows
- Axis Bank
- Development Credit Bank (DCB Bank Ltd,)
- HDFC Bank
- ICICI Bank
- Indus Ind. Bank
- Kotak Mahindra Bank
- Yes Bank
- Apart from the above, there are two banks which commenced operations recently. They are IDFC and Bandhan Bank of Bandhan Financial Services.
- Domestic Systemically Important Banks (D-SIBs), As per RBI, the following 3 banks are D-SIBs of India on date. 1. State Bank of India 2. ICICI Bank 3. HDFC Bank