The banking sector comprises scheduled and non-scheduled banks. Scheduled banks are of two types, commercial and co-operative. Scheduled Commercial Banks (SCBs) in India are classified into five types: State Bank of India and its associates, nationalised banks, private sector banks, Regional Rural Banks and others (foreign banks). In 2012, there were 9,053 banking offices in the state, of which about 26 percent were in rural and 54 percent were in urban areas. Maharashtra has a microfinance system, which refers to small scale financial services extended to the poor in both rural and urban areas. It covers a variety of financial instruments, such as lending, savings, life insurance, and crop insurance. Three largest urban cooperative banks in India are all based in Maharashtra.