G. Recurring Deposit
Recurring Deposit Interest Rates 2024
HDFC Bank |
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Kotak Bank |
ICICI Bank |
Induslnd Bank |
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IDFC Bank |
Bank of India |
Canara Bank |
Indian Overseas Bank |
Punjab and Sind Bank |
Banking
Banking forms the backbone of a modern economy, facilitating transactions, safeguarding deposits, and providing access to credit. A robust banking sector supports economic growth; a World Bank study found that countries with well-developed banking systems experience faster GDP growth.
Banking in India is a vast network of financial institutions that plays a vital role in the nation’s economic development. This sector needs strong regulation to maintain stability across the economy. From personal finance to powering businesses, banking is essential for spending, investment, and overall growth. Innovations in Indian banking, such as online banking and UPI, have improved financial access and literacy for urban, suburban, and rural populations alike. This has helped connect rural markets and spread awareness of financial services.
The banking sector is governed under the Reserve Bank of India Act, 1934, and functions under the guidelines of the Reserve Bank of India (RBI). The entire banking sector in India is divided into various segments according to their undertakings and functions including
Public Sector Banks |
Private Sector Banks |
Regional Rural Banks (RRBs) |
Payments Banks (PBs) |
Small Finance Banks (SFBs) |
Local Area Banks (LABs) |
Table of Content
- Types of Banks
- Types of Banking
- Bank Account
- Debit Card
- Credit Card
- Fixed Deposit
- Recurring Deposit
- Payments
- Payment Apps
- Insurance
- Official Valid Document
- Credit
- Loan
- Bank Frauds
- List of Top 10 Banks in India in 2024
- List of the Top 10 Largest Private Banks Worldwide