Banking Sector Recruitment
Posted on: November 28 2018, By : Supriya Subhash
The Banking Sector is the section of the economy devoted to the holding of financial assets for others, investing those financial assets as leverage to create more wealth and the regulation of those activities by government agencies.
There are different types of Banking Sector:
- Commercial Banks
- Central Bank. Every country has its own Central Bank
- Industrial Banks. Industrial banks are also called as Investment Banks
- Agricultural Banks
- Savings Bank
- Foreign Exchange Banks
- Exchange Banks
- Private Bankers
It all ties back to the fundamental way banks make money: Banks use depositors' money to make loans. The amount of interest the banks collect on the loans is greater than the amount of interest they pay to customers with savings accounts—and the difference is the banks' profit.
Banks play a major role in all the economic and financial activities in modern society. They are playing key role in activities financing the industries. Banks promote both these activities; they mobilize small deposits from the public and provide financial resource to big industries.
Today, banks have diversified their activities and are getting into new products and services that include opportunities in credit cards, consumer finance, wealth management, life and general insurance, investment banking, mutual funds, pension fund regulation, stock broking services, custodian services, private equity, etc. Further, most of the leading Indian banks are going global, setting up offices in foreign countries, by themselves or through their subsidiaries.