Discussion
Bank classification is possible according to
Answer: D
Correct answer: All of the above
Banks are classified along all three axes, and the classifications cut across one another. By ownership they are public sector, private sector or cooperative. By law they are scheduled or non-scheduled, according to inclusion in the Second Schedule to the RBI Act. By function they are commercial, industrial, agricultural, exchange or central banks.
A single institution therefore carries a label from each: the State Bank of India is public sector by ownership, scheduled by law and commercial by function.
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