Types of Banks
The newest type,
Only in advanced countries,
The main objective of this bank is to give loans to consumers
For purchase of the durables like Motor car, television set, washing machine, furniture, etc.
The consumers have to repay the loans in easy installments.
Every country of the world has a central bank,
These central banks are the bankers of the other banks,
They provide specialized functions,
A central bank is a non-profit making institution,
It does not deal with the public but it deals with other banks.