ATM – it’s one of the convenient methods of withdrawal of money; no long queues at bank cash counter or no need to carry a big amount while on a long journey. An ATM with sufficient money in the account is enough. Net banking is the next method. Let me provide a few more information about other services provided by Indian banks to customers.

Loans – Accepting fixed deposits from people giving them bank interest and then use this money to provide loans to needful, it has been one of the prime aims of banks. Fixed, current, recurring or saving – you can deposit money in the bank you feel the best. Commercial banks give loans for industrial, personal as well as agricultural purposes.

Nationalized banks – State bank of India and its associates come under nationalized banks. They are public sector banks coming under government. Apart from SBI, 19 more banks have been nationalized. SBI, India’s biggest banking network is world’s second commercial bank too!

Scheduled bank – Capital not below 5 lakhs and customer friendly banks are grouped under this group. They should agree the terms and rules provided by Reserve Bank too. They too come under two categories – Public Sector and Private sector. Almost all leading banks of India come under this category.

Bank of two generations – Indian banks can be broadly classified into two groups – Old generation and new generation banks. Banks that have implemented new economic policies much earlier come under old generation banks. Federal Bank, Catholic Syrian Bank, South Indian Bank and Dhanalekshmi bank are a quite few. Banks that have started only after 1991 and those which concentrate more on urban areas than rural come under new generation banks. They facilitate new banking methods. HDFC Bank and ICICI bank are the best examples.

Newly formed banks – Woman banks to empower woman development and Post Bank of India that are centralized with Indian Postal Services come under this new category.

Banks for street kids – Banks are also there for children born in streets and slums. They collect the savings of poor street children and facilitate loans as well. Children’s development Khazana and Bal Vikas Khazana come under this special category.

Village banks – Village banks are also available in states. In Kerala, North Malabar Gramin Bank and South Malabar Gramin bank has now combined and organized Kerala Gramin bank in 2013 July. In addition to it, co-operative banks also function in all states of India.   

Article Posted By : Sandhya Rani  On October 12, 2013lView All Articles

Net banking is the best option

Article Source :

http://www.veethi.com/articles/a-small-note-on-services-provided-by-indian-banks-article-2759.htm

Keywords :
Indian banks , services of Indian banks