With reference to the Scheduled Banks, consider the following statements:
1. Scheduled banks are banks that are listed in the 2nd schedule of the Banking regulation act 1949.
2. The bank's paid-up capital and raised funds must be at least Rs. 5 lakh to qualify as a scheduled bank.
3. Scheduled banks are liable for low-interest loans from the Reserve Bank of India and membership in clearinghouses.
Which of the above statement is/are correct?
1
1 only
2
2 and 3 only
3
1 and 2 only
4
1, 2 and 3