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Banking Term: Scheduled Banks

Find important banking term that is useful in upcoming banking exam.

Feb 16, 2015 14:10 IST
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The bank which is included in the second schedule of RBI, Act, 1934 is called Scheduled Bank.

The bank included in this list should fulfill two conditions

  • The paid up capital and collected funds of bank should not be less than Rs 5 lakh.
  • Any activity of the bank will not adversely affect the interest of depositors.

Question

Which of the following is not a scheduled commercial bank?

A. HDFC

B. NABARD

C. IDBI

D. SBI

E. None of these

Answer: A

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