Multiple choice general knowledge

What is a Bank which has capital and reserves of over Rs. 5 lakhs called?

  1. National Bank

  2. Cooperative Bank

  3. Scheduled Bank

  4. Unscheduled Bank

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Banks with a minimum paid-up capital and reserves of Rs. 5 lakh are included in the Second Schedule of the Reserve Bank of India Act and are called Scheduled Banks. They enjoy certain privileges.