Question

what is nonscheduled bank​

Answer 1

Answer:

Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks. Scheduled banks are allowed to borrow money from RBI for regular banking purposes.

Answer 2

Answer:

Banks with a reserve capital of less than 5 lakh rupees qualify as non-scheduled banks. Unlike scheduled banks, they are not entitled to borrow from the RBI for normal banking purposes, except, in emergency or “abnormal circumstances."

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