GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An institution notified by GOI
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A company as defined by companies act, 2013
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A corporative or company incorporated by any law in force in any place in India
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All of the above
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Detailed explanation-1: -Scheduled banks are those banks that are listed under Schedule II of the Reserve Bank of India Act, 1934 . The bank’s paid-up capital and raised funds must be at least Rs. 5 lakh to qualify as a scheduled bank. These banks are liable for low interest loans from the RBI.
Detailed explanation-2: -Scheduled banks are those listed in Schedule II of the Reserve Bank of India Act of 1934 and constitute the majority of banks operating under the central bank. As per the rules, the bank’s paid-up capital and raised funds must be at least Rs. 5 lakh. Scheduled banks are also members of clearing houses.
Detailed explanation-3: -Scheduled Banks 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 the criteria laid down vide section 42(6)(a) of the said Act.