03 July 2010
What is the differnce between Scheduled Banks, Non-scheduled Banks, Public Financial Institution, NBFC, Corporate Banks, Nationalised Banks.
04 July 2010
Schedule banks are those which are included in the Second Schedule of Banking Regulation act 1965; others are non schedule banks. To be included in the Second Schedule, a bank (a) must have paid up capital and reserves of not less than Rs. 5 lakhs (b) it must also satisfy the RBI that its affairs are not conducted in a manner detrimental to the interests of its depositors. Schedule banks are required to maintain a certain amount of reserves with the RBI; they in return, enjoy the facility of financial accomodation and remittance facilities at concessional rates from RBI.
The difference between schedule and non schedule is immaterial as the number of non schedule bank is almost nil.
04 July 2010
NBFCs are doing functions akin to that of banks, however there are a few differences:
(i) a NBFC cannot accept demand deposits; (ii) it is not a part of the payment and settlement system and as such cannot issue cheques to its customers; and (iii) deposit insurance facility of DICGC is not available for NBFC depositors unlike in case of banks.
04 July 2010
all nationalised banks are public sector banks. but all public sectors banks are not nationalised. e.g-UCO BANK , PNB are nationalised and public sector banks where as KALINGA GRAMYA BANK or any GRAMEEN banks are public sector banks but not nationalised
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