Scheduled Banks

Banks can be either scheduled or non-scheduled. Banks which are listed in the second schedule of the Reserve Bank of India Act, 1934 are known as Scheduled Banks. These banks are further classified as:

(i) Public Sector banks : These are further classified as

a. State Bank and its seven Banking Subsidiaries:

b. Nationalised Banks

c. Regional Rural Banks

(ii) Private Sector Banks:

a.Old private sector Banks

b. New private sector Banks

c. Foreign Banks

(iii) State Cooperative Banks and

(iv) Urban Cooperative Banks

Brief description of these banks is as follows.