Financial Awareness - Risk, Stability & Emerging Finance
Which of the following banks is NOT a Scheduled Bank as per the Reserve Bank of India Act, 1934?
Which of the following banks is NOT a Scheduled Bank as per the Reserve Bank of India Act, 1934?
easy Q13 of 15
Step-by-Step Solution
Step 1: Understand Scheduled Banks
Scheduled Banks are those included in the Second Schedule of the RBI Act, 1934, and meet certain criteria such as paid-up capital and reserves.Step 2: Identify the banks listed
State Bank of India, ICICI Bank, and Punjab National Bank are Scheduled Banks. Local Area Banks are not included in the Second Schedule and are Non-Scheduled Banks.Final Answer:
Local Area Bank → Option DQuick Check:
Scheduled Banks = RBI Act Second Schedule inclusion ✅
Quick Trick: Local Area Banks are always Non-Scheduled Banks.
Common Mistakes:
- Confusing Local Area Banks with Scheduled Banks due to their banking functions.
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