What is the meaning of scheduled bank?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 preetham asked about 3 years ago

What is the meaning of scheduled bank?why it is known as scheduled bank?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered about 3 years ago

A scheduled bank as far as India is concern,, refers to a bank which is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934. Banks not under this Schedule are called non-scheduled banks. Scheduled banks are usually private, foreign,State Bank of India and its associates, Regional Rural Bank (RRBs) and nationalized banks operating in India.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Gunjita Kashyap answered about 3 years ago

In simple sense we can say that scheduled bank refers to a bank which is listed in the 2nd schedule of the RBI act,1934. Banks not under this schedule are called non-scheduled banks. scheduled banks are usually private, foreign and nationalised banks operating in india. thankx...!

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 CA Sandeep Bohra answered about 3 years ago

Dear Friend, A scheduled bank as far as India is concern,, refers to a bank which is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934. Banks not under this Schedule are called non-scheduled banks. Scheduled banks are usually private, foreign,State Bank of India and its associates, Regional Rural Bank (RRBs) and nationalized banks operating in India. All commercial banks in India qualify as scheduled banks, though not all scheduled banks qualify as commercial banks. Scheduled banks in India fall into two categories: commercial banks and cooperative banks. A scheduled bank is eligible for loans from the Reserve Bank of India at bank rate. They are also given membership to clearing houses.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 Jyoti answered about 3 years ago

A schedule bank in India refers to a bank which is listed in the schedule 2 of Reserve bank of India Act, 1934.

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