by B.H.S. Thimmappa
A well-functioning banking system is fundamental to modern society and knowledge of different types of banks is important for banking and competitive examinations. The various types of banks based on their functions include academic credit banks, blood banks, book banks, crockery banks, eye banks, human milk banks, idea banks, money banks, question banks, skin banks, sperm banks, stem cell banks, and vote banks. The process of collecting, processing, freezing, and storing samples for future use in special health care or other facilities is essential in some of the above banks for practical purposes. Content creation, awareness, education, practice, leveraging technical know-how, adequate resources for public and private stakeholders, and social services delivered by various categories of banks and following standard operating procedures would go a long way in completing a tangible task and satisfaction among people with fulfilled domain dreams. The idea of India includes various banks united by strong emotional bonds in the diversity of languages, religions, regions, and cultures. Embedded features, embracing change, private-public initiatives, flexible mechanisms, capacity building, digital transformation, and driving growth send the signal in the right direction. The horizon does look bright for the future of different types of banking.
Academic bank of credits (ABC) is a digital storehouse that contains information on the credits earned by individual learners throughout their learning journey. A blood bank ensures that hospitals have a safe, reliable blood supply for patients in need. Book banks’ purpose is to encourage meritorious students by providing educational assistance from institutes. The crockery banks serve the purpose of reducing disposable wastage. The eye banks have the responsibility to harvest donor corneas and distribute them to trained corneal graft surgeons. The main purpose of human milk banks is to serve as repositories of donated milk and provide safe breast milk to infants in emergencies acting as a bridge between donors and recipients. Ideas banks can be used to develop new inventions or technologies. The primary role of the money banks is to collect money from depositors and lend them to borrowers, acting as intermediaries between the two, and the purpose is to give security and confidence to the economy. The question banks allow the faculty members to create, preview, and edit questions in a database and use them in framing question papers for an examination. The skin banks help in the management of severe burn patients by facilitating early excision and grafting. Sperm banks assist the couple or an individual to conceive a baby. In the positive sense, the vote banks help raise the bargaining power of individuals and groups. Stem cell banks for potential future use involve stem cell treatments for a wide range of diseases.
The academic credits stored in the national-level digital platform of ABC will give students flexibility in their career/academic choices and allows them to discontinue due to specific reasons or exchange the credits with a certificate or diploma if eligible. Blood and its components are required in emergencies to save life and voluntary blood donation saves countless lives. There is a need for learning resources for students to pursue academic studies, acquire in-depth knowledge, and cultivate reading habits among students. The book bank consists of reference books, textbooks, and other miscellaneous books for borrowing and reading purposes. We can rent stainless steel, glassware, and bone china crockery to reduce plastic and disposable plate wastage at parties and other family functions in an environmentally conscious decision. A major ophthalmic public health problem in India is blindness from corneal disease and corneal transplantation is the only viable option for visual rehabilitation. Eye banks across India can fulfill the needs of blind people to experience the beautiful world again. It is essential to have a human milk bank to provide donor milk to high-risk newborns admitted to the neonatal unit as a key strategy to reduce neonatal mortality. An idea bank is a shared resource where people post, discuss, exchange, and polish new ideas that can be used to develop new inventions or technologies in the future. The normal banking system provides essential financial services and manages the flow of money between people and businesses. A standard question bank will ensure the secure storage of questions for future use quizzes or question paper settings in different categories or subjects. Skin grafts harvested from a cadaveric donor and banked for future use in the management of severe burn patients by facilitating allograft to improve burn care in the country. Sperm banks provide the opportunity to have a child who otherwise would not be able to conceive a baby naturally. Stem cell banks help in treating several blood-related and genetic disorders such as thalassemia, leukemia, and sickle cell anemia. Finally, vote banks can raise individual and collective bargaining power in a democracy and gain social empowerment in enriching the green economy. The banking system holds a crucial role in the discharge of social responsibility and contributes to the overall sustainable economic growth of the nation. Multiple initiatives including the adoption of digital technologies have been taken throughout the world that opens a window of opportunity to many people and boosts the ease of living. Banking awareness in changing world matters in banking solutions for sustainable development as the earth is more valuable than money and the climate crisis is real. The world is banking on different types of banks. We have miles to go for the idea of a single global currency.
1. B.H.S. Thimmappa, The Book of Banks: The Brand New Bond of Banks, Kindle Edition, 2022.
About the Author:
B.H.S. Thimmappa is a writer from Udupi, India