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Question
Which of the following is NOT an indigenous bank?
Which of the following is NOT an indigenous bank?
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Solution
The correct option is D Land Development Bank
Indigenous bankers are private firms or individuals who
operate as banks and
as such both receive deposits and give loans.
They do not have legal registration is banks and as such are informal sources
of credit.
Land Development Banks in India are of quasi-commercial type.
They are all registered under the Co-operative Societies Act.
Indigenous bankers are private firms or individuals who
operate as banks and
as such both receive deposits and give loans.
They do not have legal registration is banks and as such are informal sources
of credit.
Land Development Banks in India are of quasi-commercial type. They are all registered under the Co-operative Societies Act.
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