Scheduled Banks (India)

Structure of the organised banking sector in India.

Scheduled Banks in India refer to those banks which have been included in the Second Schedule of Reserve Bank of India Act, 1934.^[1] 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.^[2]

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 -

1. Nationalised Banks
2. Development Banks
3. Regional Rural Banks
4. Foreign Banks
5. Private sector Banks
6. Payment bank (currently four banks Airtel Payments Bank, Fino Payments Bank, India Post Payments Bank, Paytm Payments Bank have been granted Scheduled bank status).^[3]

Scheduled Co-operative banks are further divided into 2 types namely -

1. Scheduled State Co-operative banks
2. Scheduled Urban Co-operative banks

See also[]

• Banking in India
• List of banks in India

References[]

Further reading[]

• "Reserve Bank of India Act, 1934: The Second Schedule" (PDF). Reserve Bank of India. pp. 91–100.