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Scheduled Banks in India constitute those banks which have been included in the Second Schedule of Reserve Bank of
India(RBI) Act, 1934. RBI in turn includes only those banks in this schedule which satisfy the criteria laid down vide section 42
(6) (a) of the Act.
As on 30th June, 1999, there were 300 scheduled banks in India having a total network of 64,918 branches.The scheduled
commercial banks in India comprise of State bank of India and its associates (8), nationalised banks (19), foreign banks (45),
private sector banks (32), co-operative banks and regional rural banks.
"Scheduled banks in India" means the State Bank of India constituted under the State Bank of India Act, 1955 (23 of 1955), a
subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959 (38 of 1959), a corresponding new bank
constituted the Second Schedule to the Reserve Bank of India Act, 1934 (2 of 1934), but does not include a co-operative bank"
The following are the Scheduled Banks in India:
State Bank of India, Union Bank of India ,United Bank of India ,UCO Bank ,Vijaya Bank. ING Vysya Bank Ltd ,Axis Bank
Ltd ,Indusind Bank Ltd ,ICICI Bank Ltd.
Treasury Bills :
T-bills are short-term securities that mature in one year or less from their issue date. They are issued with three-month, six-month
and one-year maturities. T-bills are purchased for a price that is less than their par (face) value; when they mature, the
government pays the holder the full par value. Effectively, your interest is the difference between the purchase price of the
security and what you get at maturity. For example, if you bought a 90-day T-bill at $9,800 and held it until maturity, you would
earn $200 on your investment. This differs from coupon bonds, which pay interest semi-annually.
Treasury bills (as well as notes and bonds) are issued through a competitive bidding process at auctions. If you want to buy a Tbill, you submit a bid that is prepared either non-competitively or competitively. In non-competitive bidding, you'll receive the
full amount of the security you want at the return determined at the auction. With competitive bidding, you have to specify the
return that you would like to receive. If the return you specify is too high, you might not receive any securities, or just a portion
of what you bid for. The only downside to T-bills is that you won't get a great return because Treasuries are exceptionally safe.
Contra assets in bank balance sheet;A contra asset is a negative asset account that is designed to offset the
balance in the asset account with which it is paired. The purpose of a contra asset account is to store a reserve that reduces the
balance in the paired account. By stating this information separately in a contra asset account, a user of financial information can
see the extent to which a paired asset should be reduced. The natural balance in a contra asset account is a credit balance, as
opposed to the natural debit balance in all other asset accounts. There is no reason for there to ever be a debit balance in a contra
asset account; thus, a debit balance probably indicates an incorrect accounting entry. When a contra asset transaction is created,
the offset is a charge to the income statement, which reduces profits. The proper size of a contra asset account can be the subject
of considerable discussion between a company controller and the company's auditors. example, the accumulated depreciation
account is a contra asset account, and it is paired with the fixed assets account. When combined, the two accounts show the net
book value of a company's fixed assets. Note: It is customary to have one accumulated depreciation account and multiple fixed
asset accounts with which it is linked. Examples of other contra assets are: accumulated depletion, Reserve for obsolete inventory