Commercial Applications
Identify an example of Nationalized Bank ……………
- Union Bank of India and State Bank of India
- Citi Bank and HDFC Bank
- ICICI Bank and Axis Bank
- American Express Bank and Yes Bank
Answer
Union Bank of India and State Bank of India
Reason — Nationalised banks are public sector banks that are owned and controlled by the Government. Union Bank of India and State Bank of India are both government-owned (public sector) banks, hence they are nationalised banks. Citi Bank and American Express Bank are foreign banks; HDFC, ICICI, Axis and Yes Bank are private sector banks owned by private businessmen.
Related Questions
Central bank is the sole …………… of the country's foreign currency reserve.
- Dealer
- Consumer
- Custodian
- User
…………… is not a legal tender and the creditor may refuse to accept it.
- Bank Draft
- Cheque
- Overdraft
- Cash
Private Banks are the banks which are ……………
- owned and controlled by government
- owned and controlled by private businessmen
- owned and controlled by foreign banks
- owned by central Bank and managed by government
Time Deposit account is also known as ……………
- Recurring Deposit account
- Current account
- Saving Deposit account
- Fixed Deposit account