Commercial Applications
Public Banks are the banks which are ……………
- owned and controlled by the Government
- owned and controlled by private businessmen
- owned and controlled by foreign banks
- owned by central bank
Banking
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Answer
owned and controlled by the Government
Reason — Public sector banks in India are those banks which are owned and controlled by the Government, e.g., Union Bank of India, State Bank of India, Punjab National Bank, Bank of Baroda. Banks owned by private businessmen are called private sector banks, and banks owned by foreign entities are called foreign banks.
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