Friday, January 30, 2009

Scheduled Banks

The word ‘Scheduled’ means a list. The banks which are registered in the list of central bank under its charter are called scheduled banks. They provide banking services according to the policies and instructions of central bank.

In other words scheduled banks are those which by virtue of financial position are included in the schedule of the banks maintained by the central bank. Every scheduled bank has to fulfill certain conditions. It is also known as a member bank.

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