Discussion
How many types of Bank are there on the Basis of ownership?
Answer: D
Correct answer: 3 types
On the basis of ownership banks fall into three types: public sector banks, in which the government holds a majority stake; private sector banks, owned by private shareholders; and cooperative banks, owned by their members on cooperative principles.
Ownership is only one axis of classification. Banks are also classified by law into scheduled and non-scheduled, according to inclusion in the Second Schedule to the RBI Act, and by function into commercial, industrial, agricultural, exchange and central banks.
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