LAB Full Form

LAB is also called LACTIC ACID BACTERIA. These are gram positive bacteria that are able to convert milk to curd. These organisms take up the primary strain and give pink color so they are called gram positive. They convert carbohydrates into lactic acid as the end product. These bacteria are generally acid tolerant and known to occur in almost every part of the world.

This Story also Contains

1. Introduction of Lactic Acid Bacteria
2. Introduction of Local Area Banks
3. Features of Local Area Banks
4. Objectives of Local Area Bank
5. Examples of local area Bank

These bactḤeria can be Road shape or those spherical in shape. These are generally non-sporulating bacteria and belong to the order of lactobacillus.

These bacteria are found in decomposing plants and also the milk products.

There are many other full forms of LAB

LAB : Local area Banks

LAB : Linear alkyl benzene

LAB : Logic array block

LAB : Lithium air batteries

LAB : Literary Advisable Board

LAB : Legal Aid Bureau

LAB : Library Association of Bangladesh

Introduction of Lactic Acid Bacteria

• Lactic acid bacteria are known to establish a great role in the field of Agriculture, food and microbiology.

• These are non-sporulation bacteria which are Rod or Cocci in the shape.

• Four Genera belonging to lactic acid bacteria are Lactobacillus, streptococcus, Pediococcus and Lecunostoc. These are generally known in the fermentation of the carbohydrate to lactic acid so termed as lactic acid bacteria.

Introduction of Local Area Banks

Local Area Banks are developed by the government of India in order to help local institution in the flow of rural saving and it also made sure that this rural saving is concerned at the time of needs.

Features of Local Area Banks

• Local area banks are written under the companies act 1956 and they are termed as the public limited entity.

• Local area banks have been licensed by banking regulation act 1949 so they have to work according to this act only.

• Local Area banks are subjected to the policy that is made by the Reserve Bank of India.

• Local area bank is the only Bank in India that is still now non- Schedule.

• Local area Bank has granted the permission to open its one of the branches in urban areas and rest of the branches of it are open in the rural areas.

• Local area banks provide laws for the agriculture areas and also for the many other activities.

• The banking activity of the local area network is under the control of the Reserve Bank of India.

• Local area banks are being developed under the common districts and towns and they have to work by taking care of the three towns minimum.

• In a Local area bank system the forms can be private or the government associated

Objectives of Local Area Bank

• Main objective of the local Area bank is to provide the financial related needs to the local people.

• It also helps to perform all the activities and functions about the banking and Commercial Bank that are performed in the ordinary course of their business and according to the banking rules and regulations.

• It helps to strain the institutional credit function in Rural and help urban areas by helping to make a bridge between the existing gaps in credit availability particularly in these areas.

• It helps to finance Agriculture and many other agriculture like agro related activities such as small-scale Industries and trading activities in Rural and semi urban areas.

Examples of local area Bank

There are four examples of local area Bank :-

1. Coastal local area Bank Limited :

This was established on December 27 1999. Its headquarters are usually located in Andhra Pradesh. It covers three regions of Andhra Pradesh.

2. Capital local area Bank Limited :

This local area Bank was established on 14th January 2000 and its headquarters are currently located in the Punjab region of Phagwara District. It covers 3 regions of Punjab region.

3. Krishna Bhima samruddhi limited Bank : This bank was first started on 28th February 2001 and its headquarters are located in Andhra Pradesh.

4. Subhadra Limited : This is the smallest of all the local area banks and its headquarters are located in kolhapur.