Airtel Payments Bank Categorised as Scheduled Bank
Recently, Airtel Payments Bank has been categorised as a scheduled bank by the Reserve Bank of India (RBI).
About 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.
- They also have membership in clearing houses.
- They also have numerous obligations to fulfill such as maintaining an average daily Cash Reserve Ratio with the central bank.
Functions
- Acceptance of deposits ....
Do You Want to Read More?
Subscribe Now
To get access to detailed content
Already a Member? Login here
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material since 2018 of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Economy Watch
- 1 Multi Modal Logistics Park
- 2 SEBI's Proposed Ease of Doing Business Measures for REITs and INVITs
- 3 Common Contract Note
- 4 Standing Deposit Facility
- 5 Green Municipal Bonds
- 6 Annual Survey of Services Sector Enterprises
- 7 Vizhinjam Seaport: India's First Deep-Water Container Transshipment Port
- 8 Paste Fill Technology for Coal Mining
- 9 Guidelines for Setting up Bio-Input Resource Centres
- 10 M-CADWM Scheme Approved
