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  • Category: Banking

    What is the meaning of scheduled bank?


    Want to know the meaning for scheduled bank? Searching for detailed information including the operations performed? On this Ask Expert page find responses to your query.

    Recently, I came across a world called 'Scheduled banking'. I want to know, what is the exact meaning of scheduled banking? What are the specific operations are performed which are different than normal banking operations? Can you give comparison and name of such banks.
  • #144972
    Scheduled banks of India are those banks which are listed in the Second Schedule of the Reserve Bank of India (RBI) Act, 1934. Banks which are not included in this Schedule are called non-scheduled banks.

    Foreign banks, private sector banks and public sector banks are included in the Second Schedule of RBI Act.

    Caution: Explosive. Handle with care.

  • #144989
    The names of some banks were included in the 2nd schedule of Reserve Bank of India Act 1934. These bank will satisfy the criteria as per schedule 42(6)(a) of the above act. They are called scheduled banks. Which are not meeting the above criteria are called Non scheduled banks. There are some government banks, foreign banks, private banks and cooperative banks also in this list.
    These banks are qualified to take debts/loans from RBI at the bank rates. They will also become members in clearing house.
    State Bank of India, HDFC bank and all nationalised banks are scheduled banks only.

    drrao
    always confident

  • #144994
    There are many banks operating in India but all are not scheduled bank.
    The scheduled banks are defined as the banks which are listed in the 2nd schedule of Reserve Bank of India under RBI act 1934.

    These banks are priviledged to get money as loan from RBI as per the rates decided by RBI time to time during revision of its monetary policies.

    There are 4 categories of Scheduled banks - Public Sector banks, Private banks, Foreign banks and Regional Rular banks.

    Knowledge is power.

  • #144998
    Scheduled banks in India are those banks which have been included in second schedule of Reserve Bank of India Act 1934. Scheduled banks in India are those banks which have been included in second schedule of Reserve Bank of India Act 1934. Scheduled banks carry the normal business of banking such as accepting deposits, giving out loans and other banking services.

    Classification of Scheduled banks are :-
    >> Scheduled Commercial Banks
    >> Scheduled Co-operative Banks

    Scheduled Commercial Banks are further classified as :-
    >> Public Sector Banks: like SBI & Associates, Nationalized Banks, Other Public Sector Banks
    >> Private Banks
    >> Foreign Banks
    >> Regional Rural Banks

    Scheduled National Bank in India are Allahabad Bank, Syndicate Bank, Bank of Baroda, Bank of India, Punjab National Bank, Dena Bank, United Bank of India, Union Bank of India, Oriental Bank of Commerce etc

    Scheduled Commercial Banks in India are Jammu and Kashmir Bank, ING Vysya Bank, Federal Bank, Lakshmi Vilas Bank, Karur Vysya Bank etc.

  • #145069
    Reserve Bank of India is the Govt body which considers the banks as per certain criterion for qualifying for scheduled banks and accordingly they are listed in its 2nd schedule.
    The scheduled banks can be Govt banks or private banks or foreign banks. Some special rular banks are also included in this list.
    SBI, HDFC, ICICI, PNB, UBI, IOB banks etc are some of the examples of scheduled banks.

    Thoughts exchanged is knowledge gained.


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