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Different types of banks

1. Retail banks: Retail banking operations include acceptance of smaller deposits, loan operations of smaller size and other banking activities suitable for low net worth people. It is also called mass banking.
2. Development banks: Banking operations including finance aimed at development of the economy may be called development banking. It includes finance and assistance for both, industrial and rural development. This is done by specialized institutions like BSB, BSRS, and BKB etc. Now-a-days this is also done by nationalized commercial banks
3. Unit banking: When banking service is offered by one single office instead of many branches it is called unit banking. This type of banking is more popular in the USA.
4. Branch banks: Branch banking is the rendering of banking services through many offices or the same bank located throughout the country. In the subcontinent and elsewhere, this type of banking is popular.
5. Innovative banking: Innovative banking is giving practical shape to the ideas and plans devised for meeting the newer demands of the emerging banking of the fast changing society. It involves conceiving new ideas to serve customers better, concretizing ideas conceived, collecting data for the plan
6. Off shore banks: It refers to the banking operations that cover only non-residents and do not mix with the domestic banking. An off shore banking centre is a place where deliberate attempt is made to attract international banking by offering many concessions in the form of taxes and levies being imposed at lower rates or not being charged.