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A scheduled bank means a bank included in which schedule?
AThe Second
BThe Seventh
CThe Sixteenth
DThe Seventeenth
Answer & Solution
Correct answer: A. The Second
1. The definition sits in the interpretation clause.
2. It points to a schedule of the Act.
3. That is the Second Schedule.
_Source: The Reserve Bank of India Act, 1934 (India Code)_
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