State-owned banks are financial institutions that are owned and operated by the government. Their primary purpose is to provide banking services to the public and support economic development. These banks often focus on lending to sectors that may be underserved by private banks, such as small businesses and agriculture. In many countries, state-owned banks play a crucial role in implementing government policies and promoting financial inclusion. They may offer lower interest rates and more accessible loan options compared to private banks. Examples of state-owned banks include the Bank of China and the State Bank of India.