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Date of Publication : 7th August, 2023 Date of Posting : 9th August, 2023Postal Regn. No. : HD/114520232025 RNI Regn. No. : APENG/2011/38018, Dated 24062011Volume XIII | Issue : 8 | Price : ` 1/Hamara
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A multi-state scheduled bank is a bank that operates in more than one state and is included in the second schedule of the Reserve Bank of India Act, 1934. Such banks are authorized to provide banking services and must meet specific regulatory requirements.
Any multi-state scheduled bank operating in India is required to file reports and returns to the Reserve Bank of India as per regulatory guidelines.
To fill out the multi-state scheduled bank filings, banks must collect relevant financial data, adhere to the prescribed formats from the Reserve Bank of India, and submit completed forms along with necessary supporting documents.
The purpose of a multi-state scheduled bank is to provide financial services across state lines, promote regional economic development, and facilitate wider access to banking facilities.
Multi-state scheduled banks must report information such as financial statements, capital adequacy, assets and liabilities, liquidity ratios, and other operational data as required by the Reserve Bank of India.
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