Multiple choice

Name of a bank can be included in the 2nd schedule of RBI Act to make it a scheduled bank if it is a/an

(a) state cooperative bank (b) company defined u/s 3 of Companies Act (c) institution notified by the Central Government in this behalf (d) company incorporated outside India under the foreign law

  1. Only (a), (c) and (d)

  2. Only (a), (b) and (c)

  3. Only (b) and (c)

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A scheduled bank, in India, refers to a bank which is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934. The further classification of scheduled banks is as follows: Scheduled commercial banks Nationalised banks State Bank of India and its associates Regional Rural Bank (RRBs) Foreign banks Other Indian private sector banks Scheduled cooperative banks Scheduled state cooperative banks Scheduled urban cooperative banks  

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