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Classification of the banks according to their functions

Banks these days provide a variety of services. They provide both short-term and long term credit. Their customers come from all walks of life from a small business to a multinational corporation having its business activities all around the world. The banks have to satisfy the requirements of different customers belonging to different social groups. The banking business has therefore
become complex and requires specialized skills. As a result different types of banks have come into existence to suit specific requirements. Broadly based on their functions, banks can be classified into the following categories-
Classification of Banks