General law difference
This query is : Resolved
03 July 2010
What is the differnce between Scheduled Banks, Non-scheduled Banks, Public Financial Institution, NBFC, Corporate Banks, Nationalised Banks.
Please tell me the meaning not definitions
Please tell me the meaning not definitions
03 July 2010
Dont mind but you are asking definition of many terms any specific purpose .... :)
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.
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.
(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
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
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- SFT Cash Deposit in Current Account
- Annual return in Gst
- Regarding TDS Applicability For Director Remuneration
- Requirement of tax deduction at source by individual
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
