RBI includes Bandhan Bank in second schedule list
A scheduled bank is eligible for loans from the RBI at bank rate. They are also given membership to clearing houses.
Bandhan Bank is the first instance of a micro-finance entity in India transforming into a universal bank.”We advise that the name of Bandhan Bank Limited has been included in the Second Schedule to the Reserve Bank of India Act, 1934 with notification dated September 3,” RBI said in a notification. Read More