Types of Banking in India


Types of Banking in India: This article focuses on the Types of Banking in India. You can also learn here the full information about Narrow Banking, Retail Banking, Universal Banking, Offshore Banking, Islamic Banking, Merchant Banking, Virtual Banking, Personal Banking, and Green Banking.
If you want to know Types of banking sector risks then you can click on given link to know more because I have already written an article on the Types of banking sector risks. Let’s read the full article to get more information about Banking System. I have also written an article about the Types of Banking in India.

Types of Banking in India:

  1. Narrow Banking
  2. Retail Banking
  3. Universal Banking
  4. Offshore Banking
  5. Islamic Banking
  6. Merchant Banking
  7. Virtual Banking
  8. Personal Banking
  9. Green Banking

Let’s read all  types of Banking in India:

  1. Narrow Banking
    It is the concept in which less interest is given on deposit and more interest in charge of advances. Narrow banking provides only a secured loan. If any bank branch is continuously in loss or its NPA level is very high then their scope of operation is restricted up to a certain extent to protect the interest of depositor.
  2. Retail Banking:
    Banking services provided to the common people. eg: personal loan, education loan, car loan, etc.
  3. Universal Banking:
    If all kinds of banking of financial services are available at a single door stage then it is known as universal banking. eg: Mutual fund, Mobile banking, Share, Insurance, Banking services.
  4. Offshore Banking:
    Offshore banking an account will allow to safely or privately to explore with few restrictions in special electronic zone(SEZ) area. eg: Swiss Bank
  5. Islamic Banking:
    The banking system (Banking activity) i-e. consist of Islamic law(Shariya) principle & guideline by Islamic rules and regulation. eg: Kerala state is an example where open an Islamic bank.
  6. Merchant Banking:
    These are specialized services mainly related to capital market provided to the corporate sector.
  7. Virtual Banking:
    In Banking services provided outside premises of the bank then it is known as virtual banking. eg: Internet Banking, Mobile Banking, ATM, Phone Banking, etc.
  8. Personal Banking:
    These are specialized bank branches & bank services to cater to the need for a high net-worth customer.
  9. Green Banking:
    It is paperless banking. eg: ECO-Friendly house


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