One Reply to “what is the meaning of scheduled bank?why its known as scheduled bank?”

  1. Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42 (6) (a) of the Act.

    The banks included in this schedule list should fulfil two conditions.
    1. The paid capital and collected funds of bank should not be less than Rs. 5 lac.
    2.Any activity of the bank will not adversely affect the interests of depositors.

    Every Scheduled bank enjoys the following facilitiess.
    1. Such bank becomes eligible for debts/loans on bank rate from the RBI
    2. Such bank automatically acquire the membership of clearing house.

    The following are the Scheduled Banks in India (Public Sector):

    State Bank of India
    State Bank of Bikaner and Jaipur
    State Bank of Hyderabad
    State Bank of Indore
    State Bank of Mysore
    State Bank of Saurashtra
    State Bank of Travancore
    Andhra Bank
    Allahabad Bank
    Bank of Baroda
    Bank of India
    Bank of Maharashtra
    Canara Bank
    Central Bank of India
    Corporation Bank
    Dena Bank
    Indian Overseas Bank
    Indian Bank
    Oriental Bank of Commerce
    Punjab National Bank
    Punjab and Sind Bank
    Syndicate Bank
    Union Bank of India
    United Bank of India
    UCO Bank
    Vijaya Bank

    The following are the Scheduled Banks in India (Private Sector):

    ING Vysya Bank Ltd
    Axis Bank Ltd
    Indusind Bank Ltd
    ICICI Bank Ltd
    South Indian Bank
    HDFC Bank Ltd
    Centurion Bank Ltd
    Bank of Punjab Ltd
    IDBI Bank Ltd

    The following are the Scheduled Foreign Banks in India:

    American Express Bank Ltd.
    ANZ Gridlays Bank Plc.
    Bank of America NT & SA
    Bank of Tokyo Ltd.
    Banquc Nationale de Paris
    Barclays Bank Plc
    Citi Bank N.C.
    Deutsche Bank A.G.
    Hongkong and Shanghai Banking Corporation
    Standard Chartered Bank.
    The Chase Manhattan Bank Ltd.
    Dresdner Bank AG.

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