Noobie question regarding making bank accounts ?Hi all i seriously never knew what these nationalized, private and god knows how many types of bank there are.But when i looked up to find a list of all banks in India i got a hell lot of them : http://en.wikipedia.org/wiki/List_of_banks_in_India What i want to know is that can we as Indians make a bank account... |
See, banks are divided into 3 Commercial banks, regional rural banks, co-operative banks
Commercial Banks: what we use for normal loans and deposits
Regional rural banks and cooperative banks : for rural purpose
In commercial banks we got, Public sector and private sector
Public sector: which are owned by govt and share holders
In public sector banks there are - SBI and SBI Associates(7banks) and other banks like Allahabad bank, IDBI, UCO etc
Private banks : Which are not owned by govt.. like Axis, ICICI, HDFC, UBS
In private banks, there are Indian banks (which are owned by Indians and established in India) and Foreign banks (which are established in some other country other than India but they operate in India - Citi bank, HDFC, HSBC, UBS, Royal Bank of Scotland etc)
You can take account in Foreign banks as they are operating in India too.
No Reserve Bank of India is the head of all banks and banking operations in India, Banks need to take permission to start der business in India and to maintain it. RBI maintains standards but they dont work as a bank ( issuing of loans and accepting of deposits) but it gives short term loans to Banks. So you can't take account with RBI as RBI wont give accounts.
Its a central bank - its services are to print rupee notes, banker to banks, raise govt bonds, maintaining value of rupee etc.
