Banking Structure in India

Banking Structure in India

RBI

The RBI is the supreme monetary and banking authority in the country and controls the banking system in India. It is called the Reserve Bank’ as it keeps the reserves of all commercial banks.

Scheduled

Banks

A scheduled bank is a bank that is listed under the second schedule of the RBI Act, 1934.

In order to be included under this schedule of the RBI Act, banks have to fulfill certain conditions such as having a paid-up capital and reserves of at least 0.5 million and satisfying ....

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Indian Economy