Saturday, January 31, 2009

Non-Scheduled Banks

The banks which are not registered in the list of central bank under its charter are known as non-scheduled banks. They are not bound to perform banking services according to the policies and instructions of central bank e.g. Bank of Punjab was a non-scheduled bank.

These banks do not fulfill the required qualifications of a scheduled bank as prescribed by the central bank. They also do not enjoy the public confidence. In many countries, many non-scheduled banks are also working.