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Development Banks

Development Banks:

Development banks were established mainly for the purpose of promotion and development the industrial sector in the country. Presently, large number of development banks are functioning with multidimensional activities. Development banks are also called as financial institutions or statutory financial institutions or statutory non-banking institutions.

Development banks provide two important types of finance:

(a) Direct Finance

(b) Indirect Finance/Refinance

finance
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Presently the commercial banks are providing all kinds of financial services including development-banking services. And also nowadays development banks and specialisted financial institutions are providing all kinds of financial services including commercial banking services. Diversified and global financial services are unavoidable to the present day economics. Hence, we can classify the financial institutions only by the structure and set up and not by the services provided by them.

Development Banks Development Banks Reviewed by Ikpokolo Francis on Tuesday, March 28, 2017 Rating: 5

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