We all are very well aware of the Banks and their services. There are two types of Banks around us as Government Banks and Private Banks. Government banks are also referred to as the public sector or nationalized banks. There would surely be some differences between these two categories. You can read all about government banks through the sets of 10 lines below. So let’s start.
Ten Lines on Government Bank
Set – 1
1) The Government Bank is such an institution that provides loans, accepts savings, and conducts other financial operations.
2) The Government Banks in India are also known as Public Sector Bank.
3) The Government Banks are those in which the government holds 51% or more shares.
4) There are a total of 12 Government Banks in India including State Bank of India, Bank of Baroda, etc.
5) Government or Public Sector Banks focus on public welfare rather than personal profit.
6) They provide easy funds to the small and domestic-based industries for sustainable growth.
7) The government banks are to keep a balance between government and non-government entities.
8) The government banks provide access to banking services from any part of the country.
9) Even many government banks also work through their branches in other countries.
10) Government Banks are a medium to make the government schemes reach every individual of the nation.
Set – 2
1) Government Banks are the most important financial institutions for the Indian Economy.
2) They work to create a link between the government of India and its citizens.
3) We can get the complete information of any government scheme by visiting the government banks of India.
4) The government Banks of India make rural people of India habitual of banking activities.
5) The government banks help in making the economy private sector-based to the public sector-based.
6) Private sector banks become public sector or government banks through the nationalization by the government.
7) Any private bank that is linked with a public sector bank also works as a government bank.
8) The government banks have more power and rights than private banks.
9) The government banks provide a vast range of services for people.
10) Most of the services in Government Banks are free of cost.
None of us can deny the fact that the banks have made our life much easier. They affect not only our life but also the economy of the nation. It is a very popular phrase that “Banks are the backbone of the Economy”. They become most important when we talk about a large economy like India. So, eventually, the government banks are our need, and we depend on them for our financial activities.