Which of the following is NOT a type of primary bank?

The correct answer is "D. Insurance" because it does not represent a type of primary bank. Primary banks typically include institutions such as commercial banks, retail banks, and clearing banks, each fulfilling specific roles within the banking system.

Commercial banks focus on providing services to businesses and individuals, including loans, deposits, and financial services. Retail banks primarily deal with individual consumers, offering products like savings accounts and personal loans. Clearing banks facilitate the settlement of transactions between banks, ensuring that the transfer of funds is processed correctly.

Insurance, on the other hand, refers to a different sector of financial services that provides risk management through policy offerings rather than acting as a bank. Insurance companies specialize in underwriting, premium collection, and managing claims, which places them in a distinct category apart from traditional banking institutions. Thus, it stands out as the option that is not a primary banking type.