‘Schedule’ is an English word which means ‘list of something’. The scheduled bank means which bank those are identified in the particular name list of banks under the rule of the central bank. Every commercial bank has to be scheduled under the central bank. There are some rules and conditions for the commercial banks to be scheduled.
Dr. A. R. Khan: If one bank is entitled to the list of central bank and achieves the membership of promising to follow the rules and regulations of the central bank is called the scheduled bank.
Banks those are become a member of the central bank by maintaining certain rules and conditions are said to be scheduled bank. When a hank is formed it can be scheduled by fulfilling some conditions to be scheduled. A hank can be scheduled by following some specific terms:
- The criteria to be scheduled
- The central bank may be scheduled
- Compliance by a scheduled bank
We can say that any bank that becomes a member of the central bank is scheduled bank and it can enjoy many advantages provided by the central bank.