Question

What are the condition(s) of schedule bank?

• A. It has paid-up capital and reserves of at least Rs.25 lakhs
• B. It ensures the Reserve Bank that its operations are not detrimental to the interest of the depositers
• C. It is a Commercial or a Cooperative bank and not partnership of a single owner firm
• D. All the above

Answer 1

Answer: (D)

All the above

D.

Scheduled Banks are those banks which have been included in the Second Schedule of the Reserve Bank of India Act, 1934. The banks that satisfy the criteria laid down vide section 42(6)(a) of the RBI Act are included in the schedule.

Every Scheduled bank becomes eligible for debts/loans at the bank ratefrom the RBI. It also automatically acquires the membership of the clearing house.The Scheduled banks consists of Scheduled Commercial banksand Scheduled Co-operative banks.