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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


Team Careers360 17th Jan, 2024
Answer (1)
Team Careers360 18th Jan, 2024

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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