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How the statutory reserve created under section 45 IC of rbi act can be utilised?
Wiki User
∙ 10y ago
The same can be utilised by way of amalgmating the NBFC company with Non NBFC company.
Wiki User
∙ 10y ago
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What is the difference in scheduled non scheduled banks?
a schedule bank is one authorized by reserve bank of India to act as a banker (under section 2 (e) of RBI Act. only scheduled banks can do banking business in India. RBI is has direct control over the functioning of Scheduled Banks. Non-scheduled bank in India are banks defined in section 5 of the Banking Regulation Act, 1949 (10 of 1949), which is not a scheduled bank.
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The bank initially known as "The Nadar Bank Ltd." became a Scheduled Bank under the Reserve Bank of India Act on May 11, 1935. The Nadar Bank Ltd., changed its name to the Tamilnad Mercantile Bank Ltd., on Nov 26, 1962 . More Info visit refer to their website in the related links section below.
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