Discussion
Which out of the following is/are included in second schedule of Reserve Bank of India
a) Nationalised Banks.
b) Regional Rural Banks
c) State co-operative banks
d) Village level Primary Co-operative Societies
Select the correct answer from following options:
Answer: A
Correct answer: Only a, b and c
Nationalised banks, regional rural banks and state co-operative banks are all included in the Second Schedule to the Reserve Bank of India Act, 1934, and are therefore scheduled banks.
Village-level primary co-operative societies are not: they are small, locally constituted bodies that cannot meet the capital and conduct requirements for inclusion. Scheduled status brings access to RBI refinance and to the clearing system, and with it the obligation to maintain the cash reserve ratio - privileges and duties that presuppose an institution of some size.
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