Scheduled Banks in India: Definition, Examples & Why They Matter

Scheduled Banks are those banks listed under the Second Schedule of the Reserve Bank of India Act, 1934. These banks comply with RBI regulations and maintain a minimum paid-up capital and reserves as mandated.

✅ Types of Scheduled Banks
1. Scheduled Commercial Banks (e.g., SBI, ICICI, HDFC)

2. Scheduled Cooperative Banks

📃 Key Benefits:
1. Eligible for RBI facilities like refinance

2. Enhanced customer trust and credibility

3. Access to low-cost funds and interbank lending

4. Better governance and compliance

🏦 Popular Scheduled Banks in India:
1. State Bank of India (SBI)

2. HDFC Bank

3. ICICI Bank

4. Punjab National Bank (PNB)

5. Axis Bank
(+ many more)