preetham
asked over 3 years ago
What is the meaning of scheduled bank?why it is known as scheduled bank?
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.
Gunjita Kashyap
answered over 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...!
CA Sandeep Bohra
answered over 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.
