Nationalised Banks in India
The Nationalised bank in India is fully supported by the government of the country and acquires the majority of the shares of the company.
The Nationalization increases the chances to providing the products and services to the people of rural areas.
These nationalized bank works in the best interest of the nation.
These banks also provides finance for the housing projects, health facilities, dispensaries etc and makes investment in drinking water installation in different places especially in rural areas of the country.
There are the few names of Nationalized Bank in India.
Allahabad is the famous national bank in the country. Bank is specialized to offer loans for educational purposes, house building finance etc. Moreover, this bank also provides lots of services to the exporters like scheme of Gold Card.
The Andhra bank was incorporated in 20th November 1923. The bank provides the facilities of different types of loan and deposit services.
The essential part of the bank is to increase the investment in the country as well in agriculture by lending loans to people in easy installments.
Along with the agriculture, it also provides some other loans as well like personal loans.
Bank of Baroda
Bank of Baroda offers a wide range of the products to customer like wholesale banking, SME banking, retail banking, agricultural banking and wealth management.
The varieties of the pension option are also offered for the government employees of the country.
The Dena Bank is the finest bank in the category of nationalized banks in India, the bank are divided into the three categories like personal, corpoarate banking and e-tax payment schemes.
The e-tax payment schemes offer the tax payer to pay there taxes online.
The agricultural loans are also offered to the poor farmer with easy installments.The primary and secondary function of the nationalized banks in India is same as commercial banks, but it is more trustworthy than other banks.
The banks have deposit the money which have been accumulated by millions of people living all around the country, but nationalized banks ensure the proper responsibility by making such use of these deposits which is beneficial for nation as a whole, and play effective role in the nation building process.
The nationalized banks also provide the financial consultancy to the corporate and business sector and the trading of securities. The Reserve Bank of India directly controlled the all of the nationalized bank of the country.
These nationalized banks in very important in this economic ace and for the prosperity of the nation.