What should be the paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Ac

Q. What should be the paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Act 1934?
Answer: Rs 5 lakhs
Notes: The RBI Act contains the definition of the so-called scheduled banks, as they are mentioned in the 2nd Schedule of the Act. These are banks which were to have paid up capital and reserves above 5 lakh.

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