NON-SCHEDULED BANKS/Local Area Bank.

NON-SCHEDULED BANKS

• Banks not under 2nd Schedule of the Reserve Bank of India Act, 1934. These are also known as Local Area Bank.

• Non-scheduled banks are also subject to the statutory cash reserve requirement. But they are not required to keep them with the RBI; they may keep these balances with themselves.

• They are not entitled to borrow from the RBI for normal banking purposes, though they may approach the RBI for accommodation under abnormal circumstances.

There are 5 Non-Scheduled Urban Cooperative Banks in India

• AkhandAnand Co-Operative Bank Ltd.

• Alavi Co-Op Bank Ltd.

• Amarnath Co-operative Bank Ltd.

• AmodNagrikSahakari Bank Ltd.

• AmreliNagrikSahakari Bank Ltd.

Along with this 4 local area banks in India which, forms under non-scheduled list of Banking as per RBI

• Coastal Local Area Bank Ltd.

• Capital Local Area Bank Ltd.

• Krishna Bhima Samruddhi Local Area Bank Ltd.

• Subhadra Local Area Bank Ltd.