Economics · Banking and Finance
In the context of the Indian banking structure, what defines a 'Non-Scheduled Bank'?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1They are banks whose names are not included in the Second Schedule of the Reserve Bank of India Act, 1934.✓
- 2They are banking institutions whose corporate headquarters are located outside India.
- 3They are private commercial banks that are not nationalized.
- 4They are banks completely owned and nationalized by the Government of India.
Correct answer
They are banks whose names are not included in the Second Schedule of the Reserve Bank of India Act, 1934.
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