Types of Banking Current Affairs, GK & News

Types of Banking

Various Types of Banking are as follows: Branch Banking Branch banking involves business of banking via branches. The branches are set up under Section 23 of Banking Regulations Act, 1949. A branch should cater to all banking services and include a specialized branch,  a satellite office, an extension counter, an ATM, administrative office, service branch ..

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What is Virtual Banking?

Virtual or internet banking is a system where all the transactions of the bank are done online and there are no physical branches of the banks. It is the latest technological breakthrough to provide the customers the ease of banking while on the go i.e. they don’t have to personally walk into any bank branch ..

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Understanding Social Banking

India lives in villages and they comprise a major portion of the Indian population. Financial inclusion will be complete if banking services are made available at ease to the people who are totally unaware of its benefits and are too poor to start with a minimum balance requirement. The mainstream banking practices in India has ..

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Types of Banking in India

There are several types of banking undertaken by various types of banks all over the world. On the basis of the organization, the banking may be either Branch Banking or Unit Banking. On the basis of their lending practices, it may be pure banking or mixed banking. On the basis of their products, it can ..

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What is Correspondent Banking?

Correspondent banks are financial institutions that provide banking or financial services on behalf of other equal or unequal financial institution. These are used to conduct banking operations in foreign countries as the domestic banks have limited access to foreign markets and cannot directly reach clients. They need to either set-up a foreign branch or get ..

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Relationship Banking

Relationship banking involves going the beyond the normal banking services and understanding customer’s needs before offering him any special product. The knowledge about existing and potential clients is essential for all banks. The customers don’t give away certain details in routine banking operations. The banks have thus introduced the concept of relationship banking which is ..

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What is Wholesale Banking?

Wholesale banking involves providing banking services to other commercial banks, mortgage brokers, large corporate, mid-size companies, real estate developers, international trading businesses, institutional customers or other corporations.  The services which come under the net of wholesale banking involves wholesaling, underwriting, market making, consultancy, mergers and acquisitions, joint ventures, fund management etc.  The focus is on ..

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