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Central Banks:

  1. Central Banks are the primary regulatory authorities and custodians of monetary policy in a country or a group of countries. Central Banks have significant influence on the overall economic stability and financial markets. They are responsible for managing currency circulation, setting interest rates, regulating commercial banks, and maintaining financial stability. Central Banks also act as lenders of last resort and oversee the smooth functioning of the banking system.

In most countries, the central bank has the authority to issue and regulate the national currency. This includes the responsibility for printing or minting physical currency as well as controlling its supply in circulation. However, some countries may outsource the printing of their currency to specialized printing facilities. So while the central bank typically oversees the currency printing process, the actual printing may be carried out by dedicated printing agencies or security printing companies. It’s important to note that the specific arrangements can vary from country to country based on their monetary system and policies.

Countries like the United States, the United Kingdom, Eurozone countries, Japan, India, Australia, Canada, and Switzerland have their currency printed by their respective central banks.

As for countries where the central bank does not print the currency, one example is Singapore, where the currency printing is outsourced to a specialized facility called Note Printing Australia (NPA), a wholly-owned subsidiary of the Reserve Bank of Australia. Similarly, some other countries may also have arrangements with specialized printing agencies or companies for their currency printing needs.

List of Countries and Their Central Banks

  1. Federal Reserve System (the Fed) – United States
  2. European Central Bank (ECB) – Eurozone countries
  3. Bank of Japan (BOJ) – Japan
  4. Bank of England (BOE) – United Kingdom
  5. Reserve Bank of India (RBI) – India
  6. People’s Bank of China (PBOC) – China
  7. Bank of Canada (BOC) – Canada
  8. Swiss National Bank (SNB) – Switzerland
  9. Reserve Bank of Australia (RBA) – Australia
  10. Central Bank of Iran – Iran
  11. Central Bank of Iraq – Iraq
  12. Banque de France – France
  13. Deutsche Bundesbank – Germany
  14. Saudi Arabian Monetary Authority (SAMA) – Saudi Arabia
  15. Bank of Israel – Israel
  16. Nepal Rastra Bank – Nepal
  17. State Bank of Pakistan – Pakistan
  18. Central Bank of Sri Lanka – Sri Lanka
  19. Bangladesh Bank – Bangladesh

Public Banks:

  1. Public Banks are government-owned or state-owned financial institutions that provide banking services to the public. These banks are established with the objective of promoting economic growth and ensuring financial stability. Examples of public banks globally include Bank of America, BNP Paribas, and Deutsche Bank. Public Banks often have a significant market presence and offer a range of services such as savings accounts, loans, and investment options. They play a vital role in providing accessible banking services to individuals, businesses, and government entities.

List of Few Country-wise PSU Banks

  1. Canada: Bank of Montreal (BMO), Royal Bank of Canada (RBC), Toronto-Dominion Bank (TD Bank)
  2. Russia: Sberbank, VTB Bank, Gazprombank
  3. China: Industrial and Commercial Bank of China (ICBC), China Construction Bank, Agricultural Bank of China
  4. Great Britain: Royal Bank of Scotland (RBS), Lloyds Banking Group, Barclays
  5. France: BNP Paribas, Crédit Agricole, Société Générale
  6. Germany: KfW Bank Group, Commerzbank, Landesbank Baden-Württemberg (LBBW)
  7. Pakistan: National Bank of Pakistan, Bank of Punjab
  8. Bangladesh: Agrani Bank, Sonali Bank, Janata Bank
  9. Australia: Commonwealth Bank of Australia, Westpac Banking Corporation, National Australia Bank (NAB)
  10. India: State Bank of India (SBI), Punjab National Bank (PNB)

Private Banks:

  1. Private Banks are privately-owned financial institutions that are driven by profit-making objectives. These banks operate independently and are owned by individual shareholders or a group of investors. Private Banks are known for their personalized services, wealth management solutions, and focus on high-net-worth individuals and corporate clients. Globally recognized private banks include JPMorgan Chase, UBS, and Credit Suisse. Private Banks contribute to the competitiveness and innovation within the banking sector, offering specialized financial products and services.

List of Few Country-wise Private Banks

  1. United States:   JPMorgan Chase,  Bank of America
  2. United Kingdom:    HSBC Holdings,  Barclays
  3. Canada:    Royal Bank of Canada,  Toronto-Dominion Bank
  4. Germany:   Deutsche Bank,   Commerzbank
  5. France:  BNP Paribas,   Crédit Agricole Group
  6. China:   Industrial and Commercial Bank of China (ICBC),  China Construction
  7. Bank
  8. India:  HDFC Bank,  ICICI Bank

Understanding the roles and functions of Public Banks, Private Banks, and Central Banks is essential for gaining insights into the global banking landscape. Public Banks play a crucial role in providing accessible banking services to the public and driving economic growth. Private Banks cater to the needs of high-net-worth individuals and corporate clients, offering specialized financial solutions. Central Banks, as regulatory authorities, ensure the stability of financial systems and formulate monetary policies. While the Indian banking system provides a reference point, it is important to note that banking systems may vary across countries. For accurate and specific information, individuals should refer to local banking authorities or consult relevant sources in their respective regions.

Note: The information provided in this blog is based on a general understanding of the global banking system. It is advisable to refer to specific information relevant to your country or consult local banking authorities for accurate and up-to-date details regarding the global banking landscape.

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