Is Apna Bank a scheduled bank?
Apna Sahakari Bank operates officially as a scheduled urban cooperative bank in India, having met the statutory criteria mandated by the Reserve Bank of India. Established to provide accessible banking and financial services to lower-middle-class families, small businesses, and local communities, it functions under regulatory oversight. Its status as a scheduled cooperative entity means it is included in the second schedule of the central bank's act, allowing it to perform regular banking operations, extend credit, and accept deposits while adhering to established regulatory frameworks.
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