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A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ?
A)
Small Finance Bank
B)
Scheduled Commercial Bank
C)
Co-operative Bank
D)
Foreign Bank operating in India

Correct Answer : Option (B) - Scheduled Commercial Bank


A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as ‘Scheduled Commercial Bank’.
The Reserve Bank of India (RBI) has excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) last year.

Published On : July 17, 2021
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