BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Scheduled bank refers to a bank
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authorized by central government to transaction government business
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registered with ministry of finance, govt. of India
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Which is included in the second schedule to the RBI act, 1934
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incorporated as a cooperative society
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Explanation:
Detailed explanation-1: -All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.
Detailed explanation-2: -By definition, any bank which is listed in the 2nd schedule of the Reserve Bank of India Act, 1934 is considered a scheduled bank. The Schedule consists of those banks which satisfy various parameters, criteria under clause 42 of this act.
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