What Are Industrial, Agricultural, Savings And Exchange Banks?

Industrial banks: Industrial Banks offer valuable services for the development of industries in country. They offer long-term loans, both in local and foreign currencies, to he industrial. They prepare feasibility consultations on the establishment of factories, their modernization and improvement. They are a part of development financial insinuation (DFIs).  

Agricultural Bank: The agriculture bank plays a vital role in the agriculture field. It provides loans to farmers, landlords, and feudal, to enable them to buy fertilizer, seeds tractors. The loans are offered against the hypothecation (mortgage) of the land and its harvest or crop of a season.

Savings Bank: Its objective is to encourage savings of the common man. These small savings, if deposited with the bank, turn into a large amount, which is channeled in the development of commerce and trade. The more the savings are mobilized the greater the prospects are for national investments. Saving banks offer interest or profit to their accountholders. Now saving' banking is attached with commercial banks.
Exchange Bank: It deals in foreign exchange and is involved in foreign trade. It provides foreign exchange to importers. It buys and sells foreign exchange at open market rates, which are generally different from the rates determined by the central bank. Now commercial banks and moneychangers make foreign exchange dealings.