Difference Between Scheduled Bank And Non Scheduled Bank Pdf

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difference between scheduled bank and non scheduled bank pdf

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Reserve bank of India is the highest monetary authority in the country. It makes rules and regulations for the scheduled commercial banks in India. In this article we are publishing the key differences between the Scheduled Banks and Non-Scheduled Banks.

The main difference between Scheduled Banks and Non-Scheduled Banks is that Scheduled Banks include all the commercial banks like nationalized, foreign, development, cooperative and regional rural banks and Non-Scheduled Banks are the banks that do not attach or cling to the norms prescribed by the Reserve Bank or Central Bank.

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Distinguish between scheduled bank and non-scheduled bank

Banks implies the financial institution that takes public deposits and extends credit to those who need it. They are a substantial part of the financial system, which assists in the overall economic development. These are broadly classified as scheduled and non-scheduled banks in India regulated under the Banking Regulation Act, , wherein scheduled banks include all the commercial banks like nationalised, foreign, development, cooperative and regional rural banks.

On the other extreme, non-scheduled banks are the banks that do not adhere to the norms prescribed by the Reserve Bank of India RBI. In this article excerpt, you can find out all the relevant differences between scheduled and non-scheduled banks in India. Non-scheduled banks are the banks which do not comply with the rules specified by the Reserve Bank of India, or say the banks which do not come under the category of scheduled banks. Second Schedule Listed in the second schedule.

Not-listed in the second schedule. Maintained with themselves. Borrowing Scheduled banks are allowed to borrow money from RBI for regular banking purposes. Non-Scheduled banks are not allowed to borrow money from RBI for regular banking purposes. Returns To be submitted periodically.

No such provision of submitting periodic returns. Members of clearing house It can become a member of clearing house. It cannot become member of clearing house. To qualify as a scheduled bank, the bank should conform to the following conditions:. However, they are required to fulfil certain obligations like maintenance of an average daily balance of CRR Cash Reserve Ratio with the central bank at the rates specified by it.

Add to that; these banks need to submit returns at regular intervals, to the central bank subject to the rules of Reserve Bank of India Act, and Banking Regulation Act, In finer terms, the banks which do not comply with the provisions specified by the central bank, within the meaning of the Reserve Bank of India Act, , or as per specific functions, etc.

Non-Scheduled Banks are also required to maintain the cash reserve requirement, not with the RBI, but with themselves. These are local area banks. The difference between scheduled and non-scheduled banks can be drawn clearly on the following premises:. When it comes to privileges, scheduled banks is ahead of non-scheduled banks. Scheduled banks get remittances through the offices of the Reserve Bank of India and its agents, for free or at concessional rates.

Moreover, borrowing facilities by Central Bank on the submission of the documents. Such facilities are not provided to the non-scheduled banks. Very good information is provided in easy language But I want much more information related to pathapedhi What is the difference between pathapedhi and bank. If not, who regulates non scheduled Banks. Your email address will not be published. Save my name, email, and website in this browser for the next time I comment.

Types of Banks. Key Differences Between Scheduled and Non-Scheduled Bank The difference between scheduled and non-scheduled banks can be drawn clearly on the following premises: A banking corporation whose paid up capital is Rs. Unlike, non-scheduled banks are the banks which are not capable of complying with the provision of RBI, for scheduled banks. Scheduled banks are the ones covered in the second schedule of the Reserve Bank, whereas non-scheduled banks are the banks that are not covered in the second schedule of the Reserve Bank.

Scheduled Banks need to maintain cash reserves with RBI, at the rates prescribed by it. On the other hand, Non-Scheduled Bank also needs to keep cash reserves, but with themselves only. Scheduled banks are entitled to borrow money from the central bank for regular banking purposes.

Conversely, non-scheduled banks are not entitled to borrow money from the central bank for regular banking purposes. Nevertheless, under abnormal conditions, they can request the central bank for accommodation. Scheduled banks must submit the periodic returns to the Reserve bank of India.

As against, there is no such requirement of submission of periodic returns to the central bank, in case of non-scheduled banks. Scheduled banks have the right to become the member in clearing house, while no such facility is allowed to non-scheduled banks. Comments Very good information is provided in easy language But I want much more information related to pathapedhi What is the difference between pathapedhi and bank.

Leave a Reply Cancel reply Your email address will not be published. Scheduled banks is a banking corporation whose minimum paid up capital is Rs. Scheduled banks are allowed to borrow money from RBI for regular banking purposes.

Difference Between Scheduled Banks and Non-Scheduled Banks

Apart from public and private banks, there is another categorization of banks viz scheduled and non-scheduled banks. The cash reserve in a scheduled bank is kept with RBI, whereas a non-scheduled bank keeps the cash reserve itself. Scheduled banks can be the member of clearing house while non-scheduled banks cannot be the member. Under Indian law, scheduled banks are financial institutions that are listed in the second schedules of the Reserve Bank of India Act For a large part, these banks are foreign-owned, private, and nationalized financial institutions that have a footprint in India. They are safer and more reliable to transact with. Non-scheduled banks, on the other hand, are those which are not listed in the stated schedule above.

Difference Between Scheduled Banks and Non-Scheduled Banks (With Table)

Banks implies the financial institution that takes public deposits and extends credit to those who need it. They are a substantial part of the financial system, which assists in the overall economic development. These are broadly classified as scheduled and non-scheduled banks in India regulated under the Banking Regulation Act, , wherein scheduled banks include all the commercial banks like nationalised, foreign, development, cooperative and regional rural banks.

They are a substantial part of the financial system, which assists in the overall economic development. In this article excerpt, you can find out all the relevant differences between scheduled and non-scheduled banks in India. A bank is called a scheduled bank in India, if it is listed in the second schedule of the RBI Act,

Scheduled & Non-Scheduled bank in Detail

The newly licensed payment banks will join India's vast banking system, which has several layers of banks, performing different roles and objectives. Payment banks, targetted towards people without access to the formal banking system, will provide savings, deposit, payment and remittance services. Unlike conventional banks, payment banks will not be in the business of lending. Essentially, these banks are targeted towards financially excluded customers like migrant workers, low-income households and small businesses. They primarily engage in the acceptance of deposit and extend loans to the general public, businesses and the government.

Banking institutions in India are primarily of two types: scheduled and non-scheduled. Any bank that is listed under the 2nd schedule of the Reserve Bank of India Act, is considered to be a scheduled bank. And non-scheduled banks are the banks that do not follow the guidelines as prescribed by Reserve Bank of India and thus operate differently. Generally speaking, scheduled banks include all kinds of commercial banks such as nationalised, foreign, development, cooperative and regional rural banks. These banks need to fulfill three conditions to be classified in this category:. These banks enjoy certain rights and facilities, such as:. By definition, non-scheduled banks are those that do not comply with the provisions specified by the RBI.

Conditons Capital and collected funds of bank should not be less than Rs. Any activity of the bank should not adversely affect the interests of depositors. Bank automatically acquire the membership of clearing house. The difference between schedule and non schedule is immaterial as the number of non schedule bank is almost nil. Since May there does not exist any non-scheduled commercial bank. Scheduled banks Types 1.


Banking sector of India can be broadly divided into two major groups' i.e. scheduled bank and Non-Scheduled Banks. Banks which have been.


Different types of banks in India, explained

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