Overview
Scheduled banks are essential components of the financial system, providing a range of services that support economic stability and growth. They accept deposits, offer loans, and facilitate payment systems, making them crucial for both individuals and businesses. Their role in financial intermediati...
Key Terms
Example: State Bank of India is a scheduled bank.
Example: I deposited $500 in my savings account.
Example: I took a loan to buy a car.
Example: The bank offers a 3% interest rate on savings.
Example: Banks act as intermediaries in the loan process.
Example: Credit cards are part of the payment system.
Related Topics
Key Concepts
Accepting DepositsProviding LoansPayment and SettlementFinancial Intermediation