Types of Banking
Types of Banking
Para banking– When Bank provide added banking services/facilities except the general banking facilities.
Narrow Banking– When banks invest its money in government securities instead investing in market to avoid risk.
Overseas Banking- Banks having branches in other countries besides its origin country. Ex: Bank of Baroda
Offshore Banking– Bank which accept currency of all countries.
Offshore banks are in those countries which declares them as Heaven Bank Country. Ex:Swiss Banks
Green banking– Promoting environmental-friendly practices and reducing your carbon footprint from your banking activities.
Islamic bank– Those Banks which work according to Islamic Laws.
Concept originate in Egypt. Islamic bank in INDIA opens at Cochin in kerala in 2010.
Kiosk Banking– When we Deposit or withdraw money from booths , it is called Kiosk banking.
Defence Banking– Full banking services made available to all members of the Defence force, including non-uniformed personnel and other civilians.
Retail Banking- Retail banking refers to the division of a bank that deals directly with retail customers.
Also known as consumer banking or personal banking, retail banking is the visible face of banking to the general public.
Banking on Wheel– to provide banking services in remote villages which are devoid of banking facilities as part its financial inclusion plan.
Wholesale banking-Wholesale banking is the provision of services by banks to organisations such as Mortgage Brokers, large corporate clients, mid-sized companies, real estate developers and investors, international trade finance businesses, institutional customers (such as pension funds and government entities/agencies), and services offered to other banks or other financial institutions.
BANKING TERMS WITH EXPLANATION
Various Committees and their Focus Areas
Types of Bank Accounts available in INDIAN Banking System
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