Scheduled bank

Structure of the organised banking sector in India.

A scheduled bank, in India, refers to a bank which is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934. Banks not under this Schedule are called non-scheduled banks.^[1] Scheduled banks are usually private, foreign and nationalised banks operating in India. However, cooperative banks are allowed to seek scheduled bank status if they satisfy certain criteria.^[2] A scheduled bank is eligible for loans from the Reserve Bank of India at bank rate. They are also given membership to clearing houses.^[3]

Classification

The further classification of scheduled banks is as follows:^[1]

• Scheduled commercial banks
  • Nationalised banks
  • State Bank of India and its associates
  • Regional Rural Bank (RRBs)
  • Foreign banks
  • Other Indian private sector banks
  • Scheduled State Co-operative Banks
  • Scheduled Urban Co-operative Banks
  • Foreign Private Banks

See also

• Banking in India
• List of banks in India

References

1. "Business Financing: Banks". Government of India. Retrieved 3 March 2015.
2. "Urban co-operative banks permitted to seek scheduled status". Live Mint. 27 September 2013. Retrieved 3 March 2015.
3. "Bharatiya Mahila Bank included in second schedule to RBI Act". Live Mint. 21 May 2014. Retrieved 3 March 2015.

Further reading

• "Reserve Bank of India Act, 1934: The Second Schedule" (PDF). Reserve Bank of India. p. 91-100.