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    Question

    Consider the following statements about scheduled banks.

    I. Banks that are listed under Schedule II of the Reserve Bank of India Act, 1934.

    II. The bank's paid-up capital and raised funds must be at least Rs. 5 lakh.

    III. These banks are liable for low interest loans from the RBI.

    Which statement is correct?

    A I Correct Answer Incorrect Answer
    B II Correct Answer Incorrect Answer
    C III Correct Answer Incorrect Answer
    D All are correct Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    • Bank credit grew by 10.09% to Rs 119.88 lakh crore and deposits by 10.06% to Rs 167.42 lakh crore in the fortnight ended on April 8, 2022.
    • Bank advances stood at Rs 108.88 lakh crore and deposits at Rs 152.11 lakh crore, according to the RBI's Scheduled Banks' Statement of Position in India.
    • In FY 2021-22, bank credit rose by 8.59% and deposit by 8.94%.
    • Scheduled Banks Scheduled banks are those banks that are listed under Schedule II of the Reserve Bank of India Act, 1934. The bank's paid-up capital and raised funds must be at least Rs. 5 lakh to qualify as a scheduled bank. These banks are liable for low interest loans from the RBI.

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