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Which among the following is a commercial bank?

This question was previously asked in
MSTET Varg 2 Social Science (Shift 2): Held on 26th Feb 2019
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  1. State Bank of India
  2. Regional Rural Bank 
  3. Reserve Bank of India
  4. Cooperative Bank 

Answer (Detailed Solution Below)

Option 1 : State Bank of India
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Detailed Solution

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The correct answer is State Bank of India.

Key Points

  • A Commercial Bank is a financial institution that accepts deposits, offers checking and savings account services and make loans.
  • The three type of commercial banks are:
    • Public sector banks
    • Private sector banks
    • Foreign banks
  • State Bank of India is a commercial bank.
  • It is an Indian multinational public sector bank and financial services statutory body.
  • It is headquartered in Mumbai, Maharashtra.
  • It was founded on 1 July 1955.

 Thus, we can say that State Bank of India is a commercial bank.

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