Question
Download Solution PDFAll banks which are included in the ___________ Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks.
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is second.Key Points
- The banks included in the second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks.
- Scheduled Banks are those banks that are listed in the Second Schedule of the Reserve Bank of India Act, 1934.
- These banks are eligible for loans from the Reserve Bank of India (RBI) at a concessional rate of interest.
Additional Information
- The Reserve Bank of India Act, 1934 is an important legislation that empowers the Reserve Bank of India to regulate the banking sector in India and maintain financial stability in the country.
- The Reserve Bank of India is the country's central bank and regulatory body, and it is in charge of policing the nation's banking industry.
- The Indian government's Ministry of Finance is the owner.
Last updated on Jun 12, 2025
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