GK
BANKING AWARENESS AND SEBI
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
What is meant by Scheduled Bank?
|
|
A bank included in 2ndschedule of RBI Act
|
|
|
The bank incorporated under Banking Companies Act 1956
|
|
|
The bank functioning under provisions of Banking Reg. Act 1949
|
|
|
Bank issued a license by RBI mentioning therein that it is a scheduled bank
|
Explanation:
Detailed explanation-1: -Ans. Scheduled banks are those designated in Schedule II of the Reserve Bank of India Act of 1934. To qualify as a scheduled bank, the bank’s paid-up capital and raised funds must be at least Rs. 5 lakh. These banks are eligible for low-interest RBI loans.
Detailed explanation-2: -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.
There is 1 question to complete.