Consider the following statements:begin{enumerate}item In Indian Commercial Banking System, the number of the Non-scheduled Bank is more than the Scheduled Banks.item The Non-scheduled Banks in Indian Commercial Banking Systems are even less than a dozen in number.end{enumerate} Which of the statements given above is/are correct?

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Consider the following statements:

A	Only 1
B	Only 2
C	Both 1 and 2
D	Neither 1 nor 2

Explanation:

Detailed explanation-1: -As described by RBI, there are 11 Non Scheduled State Cooperative Banks and 1500 Non-Scheduled Urban Co-operative Banks.

Detailed explanation-2: -Banks with a reserve capital of less than 5 lakh rupees qualify as non-scheduled banks. Unlike scheduled banks, they are not entitled to borrow from the RBI for normal banking purposes, except, in an emergency or abnormal circumstances.

Detailed explanation-3: -Scheduled banks is a banking corporation whose minimum paid up capital is Rs. 5 lakhs and does not harm the interest of the depositors. Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks.

There is 1 question to complete.