Discussion Forum : Nabard & Other Bank Examinations
Question -
What should be the paid up capital of the bank to be a Scheduled Commercial Bank as per the RBI Act 1934?
Answer: Option C
THE RBI ACT CONTAINS THE DEFINITION OF THE SO-CALLED SCHEDULED BANKS, AS THEY ARE MENTIONED IN THE 2ND SCHEDULE OF THE ACT. THESE ARE BANKS WHICH WERE TO HAVE PAID UP CAPITAL AND RESERVES ABOVE 5 LAKH.
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THE RBI ACT CONTAINS THE DEFINITION OF THE SO-CALLED SCHEDULED BANKS, AS THEY ARE MENTIONED IN THE 2ND SCHEDULE OF THE ACT. THESE ARE BANKS WHICH WERE TO HAVE PAID UP CAPITAL AND RESERVES ABOVE 5 LAKH.
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