Economics · Scheduled and Non-scheduled Banks
How are Non-scheduled Banks defined in the Indian banking system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Banks with a paid-up capital of less than ₹1 Lakh
- 2Banks that are operating strictly outside the purview of the Banking Regulation Act
- 3Banks which are not included in the Second Schedule of the RBI Act, 1934✓
- 4Banks that do not have any brick-and-mortar branches
Correct answer
Banks which are not included in the Second Schedule of the RBI Act, 1934
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