In any nation, banks are necessary. In India, bank branches can be found in both urban and rural areas. The nation is home to thousands of scheduled and non-scheduled banks. Even with so many banks, bank branches are always packed. Nonetheless, there is a single bank in one nation worldwide. The distinctive feature is that this bank only accepts cash and does not have any ATMs across the nation.
The National bank of Tuvalu, the fourth-smallest country in the world, is this bank. The South Pacific Ocean contains the tiny island nation of Tuvalu. The population of this nation ranges from 11,000 to 12,000 people. Fascinatingly, the '.tv' internet domain from Tuvalu is highly sought after globally. Selling it brings in a substantial amount of money for the nation.
The National bank of Tuvalu, the fourth-smallest country in the world, is this bank. The South Pacific Ocean contains the tiny island nation of Tuvalu. The population of this nation ranges from 11,000 to 12,000 people. Fascinatingly, the '.tv' internet domain from Tuvalu is highly sought after globally. Selling it brings in a substantial amount of money for the nation.
Tuvalu is made up of nine coral reefs and small coral islands, called atolls. Australia is to the southwest, and Hawaii is to the north. About 26 square kilometers make up its entire land area. Its roughly 900,000 square kilometers exclusive economic zone (EEZ) is vital for marine resources. Fishing, international aid, and revenue from its ".tv" domain are the key drivers of Tuvalu's economy. Funafuti is Tuvalu's capital. One of the nations most impacted by climate change is Tuvalu. Its islets are only two meters above sea level on average. They now data-face an existential threat from rising water levels.
In Tuvalu, the only bank offering banking services is the National bank of Tuvalu. In 1980, the National bank of Tuvalu was founded as a Barclays bank affiliate. Every island in the nation is home to one of its branches. Tuvalu's primary currency is the Australian dollar. Additionally, Tuvalu produces its own currency. Tuvalu was originally known as the "Ellice Islands" and was a british colony. It became a constitutional monarchy after gaining independence from britain in 1978.
Tuvalu makes a nice living by selling its ".tv" domain. Due to its association with television, the ".tv" domain is highly favored by influencers, media firms, and streaming services. Tuvalu's annual revenue from the selling of this domain is estimated to be around 10 million US dollars (850 million rupees). Approximately 10% of Tuvalu's GDP is made up of this.
