A Bank included in the second schedule of RBI is called as _________?

Question

A Scheduled Bank is a bank included in the Second Schedule of the Reserve Bank of India (RBI) Act, 1934. These banks are eligible for loans from the RBI and must maintain a minimum paid-up capital and reserves. Scheduled Banks include Commercial Banks, Regional Rural Banks, and some Cooperative Banks. As of 2021, there are over 200 Scheduled Banks in India, which play a crucial role in the country's financial system.

GKToday Admin · Accepted Answer

Scheduled Bank A Scheduled Bank is a bank included in the Second Schedule of the Reserve Bank of India (RBI) Act, 1934. These banks are eligible for loans from the RBI and must maintain a minimum paid-up capital and reserves. Scheduled Banks include Commercial Banks, Regional Rural Banks, and some Cooperative Banks. As of 2021, there are over 200 Scheduled Banks in India, which play a crucial role in the country's financial system.

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