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Scheduled and Non–scheduled bank

Scheduled financial institution is a financial institution this is listed in the 2nd agenda of the “RBI Act, 1934”. So that you can be covered below this time table of the RBI Act, banks must fulfil certain situations including a paid-up capital and reserve of more than 5 lakhs and assure the RBI that its operational methods aren’t in a way biased towards some particular set of customers. Scheduled banks can be further categorised as industrial and co-operative banks. Non-scheduled banks are the ones not listed in 2nd schedule of the “RBI Act, 1934”. Currently these are just 3 such banks in India.