Q. Scheduled bank in one which is registered under which one of the following schedules of RBI:
Solution:
- Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934.
- RBI in turn includes only those banks in this Schedule which satisfy the criteria laid down vide section 42(6)(a) of the said Act.
- Banks not under this Schedule are called Non-Scheduled Banks
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