In order to be scheduled to the Reserve Bank of India a bank should have capital and reser...........

Indian Economy (Easy) Money and banking

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In order to be scheduled to the Reserve Bank of India, a bank should have capital and reserve of not less than:

1lakh

5lakhs

10lakhs

50lakhs

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Explanation:

Definition of Scheduled Banks:

“Banks which have been included in the second scheduled of the RBI Act, 1934”. The banks included in this category should fulfil two conditions;

1. The paid up capital and collected fund of the bank should not be less than Rs. 5 lac.

2.Any activity of the bank will not adversely affect the interests of the depositors.

Examples of Scheduled Banks are: Scheduled Commercial Banks in India are categorised in 5 different groups according to their ownership / nature of operation.

These bank groups are: (i) State Bank of India (ii) Nationalised Banks, (iii) Regional Rural Banks, (iv) Foreign Banks (v) Other Indian Scheduled Commercial Banks (in the private sector).