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Scheduled Banks

  Feb 09, 2022

Scheduled Banks

Q Why is it in News ?

A The Reserve Bank of India (RBI) has informed that Airtel Payments Bank Ltd. has been categorized as a Scheduled Bank.

Q Why such a move?

Q What are Scheduled Banks?

Q What are various types of Scheduled Banks ?

A There are two main categories of commercial banks in India namely:

  1. Scheduled Commercial banks
  2. Scheduled Co-operative banks

Scheduled commercial Banks are further divided into 5 types as below:

  1. Nationalised Banks
  2. Development Banks
  3. Regional Rural Banks
  4. Foreign Banks
  5. Private sector Banks

Payment bank (currently four banks Airtel Payments Bank, Fino Payments Bank, India Post Payments Bank, Paytm Payments Bank have been granted Scheduled bank status).

Scheduled Co-operative banks are further divided into 2 types namely:

  1. Scheduled State Co-operative banks
  2. Scheduled Urban Co-operative banks