Non-scheduled banks are defined in which of the following acts?

Non-scheduled banks are defined in which of the following acts?
[A]Banking Regulation Act, 1949
[B]RBI Act 1934
[C]Banking Companies Act, 1949
[D]None of the above

Banking Regulation Act, 1949
The banks that are not included in the Reserve Bank of India (RBI) Act, 1934 are defined in the clause (c) of Section 5 of the Banking Regulation Act, 1949. These banks are not eligible for having loans from RBI for meeting their day to day general requirements. Only in emergency conditions , these banks can be granted loans from RBI.

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