Which of the following statements are true in context of scheduled banks? 1. All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. 2. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks. 3. Scheduled Commercial Banks in India are categorized into five different groups – SBI, Nationalised Banks, Regional Rural Banks, Foreign Banks and Other Indian Scheduled Commercial Banks in the private sector. 4. Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.

[amp_mcq option1=”1, 2 and 3″ option2=”2, 3 and 4″ option3=”1, 2 and 4″ option4=”1, 2, 3 and 4″ correct=”option4″]

The correct answer is D. 1, 2, 3 and 4.

All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks. Scheduled Commercial Banks in India are categorized into five different groups – SBI, Nationalised Banks, Regional Rural Banks, Foreign Banks and Other Indian Scheduled Commercial Banks in the private sector. Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.

Here is a brief explanation of each option:

• Option 1: All banks which are included in the Second Schedule to the Reserve Bank of India Act, 1934 are Scheduled Banks. This is true. The Second Schedule to the Reserve Bank of India Act, 1934 lists all the banks that are considered to be Scheduled Banks.
• Option 2: These banks comprise Scheduled Commercial Banks and Scheduled Co-operative Banks. This is also true. Scheduled Banks are divided into two categories: Scheduled Commercial Banks and Scheduled Co-operative Banks.
• Option 3: Scheduled Commercial Banks in India are categorized into five different groups – SBI, Nationalised Banks, Regional Rural Banks, Foreign Banks and Other Indian Scheduled Commercial Banks in the private sector. This is also true. Scheduled Commercial Banks in India are categorized into five different groups: State Bank of India (SBI), Nationalised Banks, Regional Rural Banks, Foreign Banks and Other Indian Scheduled Commercial Banks in the private sector.
• Option 4: Scheduled Co-operative Banks consist of Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks. This is also true. Scheduled Co-operative Banks are divided into two categories: Scheduled State Co-operative Banks and Scheduled Urban Co-operative Banks.