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Scheduled Banks in India are classified under which of the following acts?
  • a)
    Reserve Bank of India Act, 1934
  • b)
    Banking Regulation Act, 1949
  • c)
    The Subsidiary Banks General Regulation, 1959
  • d)
    The Regional Rural Banks Act, 1976
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Scheduled Banks in India are classified under which of the following ...
  • Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India 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 said Act. Banks not under this Schedule are called Non-Scheduled Banks.
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Scheduled Banks in India are classified under which of the following acts?a)Reserve Bank of India Act, 1934b)Banking Regulation Act, 1949c)The Subsidiary Banks General Regulation, 1959d)The Regional Rural Banks Act, 1976Correct answer is option 'A'. Can you explain this answer?
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