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What type of commercial bank is defined by its inclusion in the Second Schedule of the Reserve Bank of India Act, 1934?
  • a)
    Scheduled Banks
  • b)
    Non-Scheduled Banks
  • c)
    Private Sector Banks
  • d)
    Public Sector Banks
Correct answer is option 'A'. Can you explain this answer?
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What type of commercial bank is defined by its inclusion in the Second...
Scheduled Banks are defined by their inclusion in the Second Schedule of the Reserve Bank of India Act, 1934. These banks meet specific criteria set by the Reserve Bank of India and are generally considered more stable and reliable, making them essential players in the financial system.
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