Question: Consider the following statements :-
- The banks included in the second schedule of the Reserve Bank of India Act, 1934 are called scheduled banks.
- Airtel Payments Bank was classified as a ‘Scheduled Bank’ in January 2022.
Which of the above statements is/are correct?
(a) 1 only
(b) 2 only
(c) 1 and 2
(d) neither 1 nor 2
Answer—(c)
Related facts—
- RBI on January 2022 said Airtel Payments Bank(APB) Ltd has been included in the Second Schedule to the Reserve Bank of India Act, 1934 which means it has been categorised as a Scheduled Bank.
- APB can now pitch for government-issued Requests for Proposals (RFP) and primary auctions and undertake both Central and State Government business participating in government-operated welfare schemes.
By – Pankaj Pandey