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Features of scheduled bank

A scheduled bank means a bank for the time being included in the list of banks maintained by the central bank under sub-clause (a) of clause (2) of article 32. Any bank not included in this list is a non-scheduled bank. For example, as of today, Grameen bank is not a scheduled bank. All the commercial banks in Bangladesh are, however, scheduled banks. Now the total number of scheduled banks is 51.
A scheduled bank contains the following important features-
1) Be carrying on the business of banking.
2) Be a bank company as defied in section 5 of the bank companies act-1991
3) Have a paid-up capital and reserves of an aggregate value as determined by Bangladesh bank. However, in the case of a co-operative bank, an exception may be made by the central bank.
4) Satisfy Bangladesh bank that its affairs are not being conducted in a manner detrimental to the interest of its depositors.
5) Maintain, if not otherwise permitted, liquidity at the specific rate. Currently statutory liquidity ratio is 18% of deposit liabilities. A portion of it must be maintained in cash with the central bank and the rest in the form of cash-in-tills, treasury bills, savings certificates and other approved securities.
6) Meticulously follow and implement any order, guidelines or instructions in the operational areas.
7) Send filled-in-returns and statements as required by the central bank