PPSC Excise and Taxation Inspector 2018 Question Paper

Practice Mode:
26.

A Scheduled Bank is one which is included in the :

A: II Schedule of Banking Regulation Act
B: II Schedule of Reserve Bank of India Act
C: II Schedule of Constitution
D: None Of these

The answer is: B

<< Previous Question
Next Question >>

Explanation

Answer: B - II Schedule of Reserve Bank of India Act

 

Why This is Correct:

  • Scheduled Banks are banks listed under the Second Schedule of the RBI Act, 1934
  • This classification gives them specific privileges and obligations under RBI's regulatory framework


Eligibility Conditions to become a Scheduled Bank:

  • Paid-up capital and reserves must be at least ₹5 lakhs
  • Must comply with all RBI requirements
  • Affairs must not be conducted in a way harmful to depositors
  • Must be a corporation, cooperative society or company

 

Banking Sub-categories in India:

  • Scheduled Banks vs Non-Scheduled Banks
  • Public Sector Banks vs Private Sector Banks
  • Commercial Banks vs Cooperative Banks
  • Regional Rural Banks vs Payment Banks