Commercial Applications
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
Banking
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Answer
owned and controlled by private businessmen
Reason — Private sector banks in India are those banks which are owned and controlled by private businessmen, e.g., ICICI Bank, HDFC Bank, Axis Bank. Government-owned banks are called public sector banks (e.g., Union Bank of India), and banks owned by foreign entities are called foreign banks (e.g., Citi Bank, American Express Bank).
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Related Questions
…………… is not a legal tender and the creditor may refuse to accept it.
- Bank Draft
- Cheque
- Overdraft
- Cash
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
Time Deposit account is also known as ……………
- Recurring Deposit account
- Current account
- Saving Deposit account
- Fixed Deposit account
Assertion (A): Central Bank and Commercial Banks have distinct roles in economy.
Reason (R): Central Bank controls money supply and sets policy. Commercial Banks take deposits and make loans to customers.
- A is true but R is false
- A is false but R is true
- Both A and R are true and R explains A
- Both A and R are true but R does not explain A