Scheduled banks Vs Non-Scheduled banks
Table of Contents
🔸SCHEDULED BANKS
▪️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 RBI Act , 1934.
▪️Every Scheduled bank enjoys two types of principal facilities:
➢it becomes eligible for debts/loans at the bank rate from the RBI
➢ it automatically acquires the membership of clearing house.
▪️Minimum paid up capital should be Rs. 5.00 lakh
▪️These banks have to maintain stipulated CRR ,SLR and other instructions issued by from time to time fixed by central banks.
▪️The Scheduled banks comprise Scheduled Commercial Banks and Scheduled Co-operative banks.
🔹 The further classification is as follows:
• Scheduled Commercial banks
• Public Sector Banks
➢ State Bank of India and its associates, and
➢ Other Nationalised banks
• Private Sector Indian Banks
• Private-sector Foreign banks
• Regional Rural Bank (RRBs)
• Scheduled Co-operative banks
➢ Scheduled State Co-operative Banks
➢ Scheduled Urban Co-operative Banks
🔸NON -SCHEDULED BANKS
▪️Banks which do not come under 2nd Schedule of RBI Act 1934 are called Non-Scheduled Banks.
Scheduled banks Vs Non-Scheduled banks – Gk By Mr. DJ
Scheduled banks Vs Non -Scheduled banks – Gk By Mr. DJ▪️Scheduled Banks in India refer to those banks which have been included in the Second Schedule
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