K. Official Valid Document
Identity and Address Proof (Pan Card Aadhaar Card, Voter ID card, Driving licence, Birth certificate, Passport, School leaving certificate, and Ration card)
1. Pan Card
PAN is a government-issued identity card with a unique 10-digit alphanumeric code that serves many purposes. PAN is the short form of “Permanent Account Number”. The Department of Income Tax issues the Permanent Account Number (PAN) card, which has ten alphabetic and numeric digits.
2. Aadhaar Card
Aadhaar card is a 12-digit individual identifying number issued under the authority of the Indian Government by the Unique Identifying Authority of India. The number may be used to prove one’s identity and address, wherever in India.
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