BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A Bank functioning under provisions of Banking Regulation Act. 1949
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A Bank included in 2nd schedule of RBI Act 1934
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A Bank incorporated under Banking Companies Act. 1956
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A Bank authorised to do Banking functions
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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. 2.
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.
Detailed explanation-3: -Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934. Reserve Bank of India (RBI) in turn includes only those banks in this Schedule which satisfy all the criteria laid down vide section 42(6)(a) of the said Act.
Detailed explanation-4: -In 1934, banks included in the second schedule were called the scheduled bank, small industries development bank of India is known as small industry bank under the state bank of India act, Unit trust of India means a unit trust, built under the section3 of the unit trust of India act, 1963.
Detailed explanation-5: -Scheduled Commercial Banks: Scheduled commercial banks are those banks that are registered under the second schedule of RBI Act, 1934. These include public sector banks, private sector banks, foreign banks, etc.