Difference Between Commercial and Cooperative Bank | 11 Major Differences

Difference Between Commercial and Cooperative Bank

Although Commercial banks and cooperative banks are included under the category of scheduled banks, yet there is the key difference between commercial and cooperative bank. The main objective of commercial banks is to make profits, however, cooperative banks function on the principle of cooperation, self-help or mutual help of its members such as farmers, small scale businesses, street vendors etc especially in rural, semi-urban or urban locale. 

Therefore, in this lesson, we will discuss the key difference between cooperative banks and commercial banks. But before we go-ahead let us understand the basic structure of the banking system in India.  

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Difference Between Central Bank and Commercial Bank | 11 Major Differences

Difference Between Central Bank and Commercial Bank

The Central Bank is the Apex institution of a country whereas commercial banks are a minor unit of the whole financial system. Although both central bank of a country and commercial banks are the backbone of the financial system of any country because it mobilises funds, creates credit, regulates the supply of funds and hence controls the rate of inflation in the economy.

This article will explain the key difference between central bank and commercial bank.

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Difference between Scheduled and Non-scheduled Bank

Difference between Scheduled and Non-scheduled Bank

Indian Banking System is broadly classified into three categories: Scheduled Banks, Non-scheduled Banks and Development Banks. In this lesson, we will discuss the difference between scheduled and non-scheduled banks

The banks are those financial institutions which accept deposits from the general public and corporations, avail advances/ loans to those who require funds and provide other banking services. There are various functions performed by the banks to facilitate the public as well as business enterprises/ corporations in India. The banks are one of the significant components of the Indian financial system.

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Difference between Bill Discounting and Factoring | 9 Key Differences

difference between Bill discounting and Factoring

Although both Bill discounting/ invoice discounting and Factoring are the source of short-term working capital funds. The supplier/ exporter whether they small or medium utilise these financial services to arrange funds against the bill of exchange or invoice raised to the buyer/ importer from the financial institutions or agents which provide these kinds of services.

In this article, we will elaborate on the difference between Bill discounting and Factoring, but before I go ahead, we need to understand the concept of a bill discounting/ invoice discounting and factoring in brief.

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How to lodge complaint in Banking Ombudsman? | 7 Easy Steps

how to lodge complaint in Banking Ombudsman

There are three options available to complain in the Banking Ombudsman, in case you have any grievance or complaint regarding any mischief or deficiency in banking services. In this article, I will guide you on how to lodge a complaint in Banking Ombudsman. But, before I go-ahead, you need to ensure certain things as follows.

First, you need to ensure that have you filed a complaint to your concerned bank as soon as you face any deficiency or mischief/loss.

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