πŸ“’ Too many exams? Don’t know which one suits you best? Book Your Free Expert πŸ‘‰ call Now!

  • google app store apple app store
  • βœ–

      Question

      A scheduled bank under the RBI Act, 1934 is defined in

      Section 2(e) as a bank included in which Schedule?
      A The First Schedule Correct Answer Incorrect Answer
      B The Second Schedule Correct Answer Incorrect Answer
      C The Third Schedule Correct Answer Incorrect Answer
      D The Fourth Schedule Correct Answer Incorrect Answer
      E The Fifth Schedule Correct Answer Incorrect Answer

      Solution

      Section 2(e) defines a 'scheduled bank' as a bank included in the Second Schedule. The Second Schedule, read with Section 42, contains the list of scheduled banks. The Bank, by notification in the Gazette of India, may direct the inclusion or exclusion of banks from the Second Schedule based on criteria such as paid-up capital and reserves of not less than five lakhs of rupees. Thus a scheduled bank is one included in the Second Schedule.

      Practice Next
      ask-question