Question

Which of the following best defines a "Scheduled Commercial Bank" in India according to the core framework presented in the document?

A Any financial institution that is registered under the Companies Act, 2013 and focuses heavily on digital banking applications.
B Any bank that is listed in the Second Schedule of the Reserve Bank of India Act, 1934.
C Financial intermediaries whose majority ownership structure is cooperative and operate in urban locales.
D Multi-functional financial entities that operate exclusively under the rules of foreign parent regulators.
E Niche institutions designed solely to accept demand deposits from low-income households.
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