Sunday, May 6, 2012

Type 5. Indigenous Banks

Indigenous banks means Money Lenders and Sahukars. They collect deposits from general public and grant loans to the needy persons out of their own funds as well as from deposits. These indigenous banks are popular in villages and small towns. They perform combined functions of trading and banking activities. Certain well-known indian communities likeMarwaries and Multani even today run specialised indigenous banks.

No comments:

Post a Comment