37. (1) The Bank shall maintain at all its offices and branches on up-to-date a list of banks declared by it to be scheduled banks under sub-clause (a) of clause (2).
(2) The Bank shall, by notification, in the official Gazette-
(a) declare any bank to be scheduled bank which is carrying on the business of banking in Bangladesh and which-
(i) is a banking company [ * * *], or a co-operative bank, or a corporation or a company incorporated by or established under any law in force in any place in or outside Bangladesh;
(ii) has a paid-up capital and reserves of an aggregate value of [ an amount not less than that required to be maintained under ধারা ১৩ of ব্যাংক কোম্পানী আইন, ১৯৯১ (১৯৯১ সনের ১৪ নং আইন):
Provided that in the case of a co-operative bank, an exception may be made by the Bank;
(iii) satisfies the Bank that its affairs are not being conducted in a manner detrimental to the interests of its depositors;
[ (b) Direct the de-scheduling of any scheduled Bank which-
(i) ceases to fulfill the requirements mentioned in sub-clause (a) or goes into liquidation or otherwise wholly or partly ceases to carry on banking business; or
(ii) in the opinion of the Bank, is conducting its business in a manner detrimental to the interests of its depositors:
Provided that the Bank may, on application of the scheduled bank concerned and subject to such conditions, if any, as it may impose, defer the making of a direction under sub-clause (b) for such period as the bank considers reasonable to give the scheduled bank an opportunity of fulfilling the requirements mentioned in paragraphs (ii) and (iii) of clause (a);]
(c) alter the description in the list of scheduled banks whenever any scheduled bank changes its name.
Explanation - In clause (2) the expression “value” means the real or exchangeable and not the nominal value of the capital and reserves and the valuation made by the Bank shall be final.
