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WHAT IS scheduled bank?
Answer:
Answer
Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act.The banks included in this schedule list should fulfil two conditions.
1. The paid capital and collected funds of bank should not be less than Rs. 5 lac.
2.Any activity of the bank will not adversely affect the interests of depositors.
Every Scheduled bank enjoys the following facilitiess.
1. Such bank becomes eligible for debts/loans on bank rate from the RBI
2. Such bank automatically acquire the membership of clearing house.
The following are the Scheduled Banks in India (Public Sector):
- State Bank of India
- State Bank of Bikaner and Jaipur
- State Bank of Hyderabad
- State Bank of Indore
- State Bank of Mysore
- State Bank of Saurashtra
- State Bank of Travancore
- Andhra Bank
- Allahabad Bank
- Bank of Baroda
- Bank of India
- Bank of Maharashtra
- Canara Bank
- Central Bank of India
- Corporation Bank
- Dena Bank
- Indian Overseas Bank
- Indian Bank
- Oriental Bank of Commerce
- Punjab National Bank
- Punjab and Sind Bank
- Syndicate Bank
- Union Bank of India
- United Bank of India
- UCO Bank
- Vijaya Bank
The following are the Scheduled Banks in India (Private Sector):
- ING Vysya Bank Ltd
- Axis Bank Ltd
- Indusind Bank Ltd
- ICICI Bank Ltd
- South Indian Bank
- HDFC Bank Ltd
- Centurion Bank Ltd
- Bank of Punjab Ltd
- IDBI Bank Ltd
The following are the Scheduled Foreign Banks in India:
- American Express Bank Ltd.
- ANZ Gridlays Bank Plc.
- Bank of America NT & SA
- Bank of Tokyo Ltd.
- Banquc Nationale de Paris
- Barclays Bank Plc
- Citi Bank N.C.
- Deutsche Bank A.G.
- Hongkong and Shanghai Banking Corporation
- Standard Chartered Bank.
- The Chase Manhattan Bank Ltd.
- Dresdner Bank AG.
In the Private Sector category, Centurion Bank Ltd. and Bank of Punjab Ltd. are no more in existence. First, Bank of Punjab was merged into Centurion Bank and the merged entity was later merged into HDFC Bank Ltd.. It may also be noted that the Private Sector included Federal Bank Ltd. also.
First answer by Manjunathsinge.
Last edit by Mgpadinjakara.
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