BANKING AFFAIRS

Detailed explanation-1: -We are a ‘scheduled bank’ included in the Second Schedule to the Reserve Bank of India Act, 1934 and a listed Entity.

Detailed explanation-2: -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-3: -Q. Which payments bank has been granted the status of a Scheduled bank by the Reserve Bank of India (RBI)? Notes: The Reserve Bank of India (RBI) has recently granted the status of a scheduled bank to Airtel Payments Bank.

Detailed explanation-4: -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.