Classification of Bank on the basis of Ownership
At present, the word “Bank” is considered as an economic term in all country. Banks are the financial institutions that are licensed to deal with money and its substitutes by accepting time and demand deposits, making loans, and investing in securities.
According to the economy, different countries have different types of bank ownership.
Government Bank: The bank which is established, directed, managed, and controlled by the government is called a government-owned hank. Sometimes non-government bank is converted into government bank by nationalization.
Private Bank: Private Banks is privately owned, directed, and controlled. Those banks are enlisted by the central bank. Indirectly these banks are controlled by the government.
Joint Ownership Bank: Joint ownership banks are controlled by the government as well as by the non-government entity. 51% of the shares are belonging to the government and private entity holds the rests.
Autonomous Bank: These banks are established by the special order of the government and the president. The government has no direct influence user these banks.