Define Non-Scheduled Banks
Grade 9
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4
Explanation:
Non-scheduled banks by definition are those which are not listed in the 2nd schedule of the RBI act, 1934. Banks with a reserve capital of less than 5 lakh rupees qualify as non-scheduled banks.
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2
Explanation:
=>Non-scheduled banks are those that do not adhere to the RBI's regulations.
- They are not mentioned in the Second Schedule of the RBI Act, 1934, and are therefore deemed incapable of serving and protecting depositors' interests.
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