Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934. Reserve Bank of India (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

Facilities

Every Scheduled bank enjoys two types of principal facilities: it becomes eligible for debts/loans at the bank rate from the RBI; and, it automatically acquires the membership of clearing house.

Types of banks

There are two main categories of commercial banks in India namely - * Scheduled Commercial banks * Scheduled Co-operative banks Scheduled commercial Banks are further divided into 5 types as below - # Nationalised Banks # Development Banks # Regional urban Banks # Foreign Banks # Private sector Banks # Payment bank (currently five banks NSDL Payments Bank,

Airtel Payments Bank Airtel Payments Bank is an Indian payments bank with its headquarters in New Delhi. The company is a subsidiary of Bharti Airtel. On 5 January 2022, it was granted the scheduled bank status by Reserve Bank of India under second schedule of R ...

, Fino Payments Bank,

India Post Payments Bank India Post Payments Bank, abbreviated as IPPB, is a division of India Post which is under the ownership of the Department of Post, a department under Ministry of Communications of the Government of India. Opened in 2018, as of January 2022, t ...

, Paytm Payments Bank have been granted Scheduled bank status). Scheduled Co-operative banks are further divided into 2 types namely - # Scheduled State Co-operative banks # Scheduled Urban Co-operative banks

Facilities

Types of banks

See also

References

Further reading