Module: General Practice
Q2: What are the two conditions Under section 42 (6) (a) of the RBI Act, a bank must satisfy to be considered a Scheduled Bank?
✅ Correct Answer: B
Paid reserve capital of 5 lakh rupees and conduct not harmful to depositors' interests.
Under section 42 (6) (a) of the RBI Act, a bank is included in the second schedule if it satisfies these requirements.
This regulatory requirement is a key pillar of the Banking Structure in India.
Under section 42 (6) (a) of the RBI Act, a bank is included in the second schedule if it satisfies these requirements.
This regulatory requirement is a key pillar of the Banking Structure in India.