Explanation:

• The Reserve Bank of India has included the Fino Payments Bank in the Second Schedule of the Reserve Bank of India Act, 1934.
• This inclusion gives Fino Payments Bank, the status of scheduled commercial bank or simply scheduled banks.
• Fino will now be able to enhance its banking position in the treasury and participation in liquidity adjustment facility (LAF) window .

Scheduled Commercial Banks

• All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks.
• Scheduled Commercial Banks in India are categorised into five groups based on their ownership/nature of operation. These bank groups are:

1. State Bank of India and its Associates
2. Nationalised Banks
3. Regional Rural Banks
4. Foreign Banks
5. Other Indian Scheduled Commercial Banks (in the private sector)