Question : Scheduled bank is a bank which is:
Option 1: nationalised
Option 2: not nationalised
Option 3: based on the foreign country
Option 4: included in the second schedule of RBI
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Correct Answer: included in the second schedule of RBI
Solution : The correct option is included in the second schedule of RBI.
A scheduled bank is a financial institution listed under the Reserve Bank of India (RBI) Act, 1934's Second Schedule. The RBI can offer scheduled banks benefits, including access to its funds for daily operations. They also significantly contribute to the nation's financial system by generating savings and extending credit to various economic sectors.
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