Which Small Finance Bank has been included in the Second Schedule of the Reserve Bank of India Act, 1934?

Introduction / Context:
Small Finance Banks are specialised banks in India that focus on providing financial services to underserved and unbanked segments such as small business units, small and marginal farmers, and low income households. Being included in the Second Schedule of the Reserve Bank of India Act, 1934 provides a bank with the status of a scheduled bank, which comes with certain benefits and obligations. This question checks general awareness about one such Small Finance Bank that obtained scheduled status.

Given Data / Assumptions:

• The question lists three Small Finance Banks: Janalakshmi, Utkarsh, and Suryoday.
• One of these has been formally included in the Second Schedule of the Reserve Bank of India Act, 1934.
• Inclusion in the Second Schedule gives the bank scheduled status and access to certain facilities from the Reserve Bank of India.
• We assume the standard exam reference period when Utkarsh Small Finance Bank was notified as a scheduled bank.

Concept / Approach:
A scheduled bank is one that is listed in the Second Schedule of the Reserve Bank of India Act, 1934. Scheduled banks have access to refinancing facilities and can participate in clearing and settlement systems more easily. When Small Finance Banks are granted this status, they join the group of scheduled commercial banks. Among the listed options, Utkarsh Small Finance Bank is commonly cited in exam material as an example of a Small Finance Bank that has been included in the Second Schedule.

Step-by-Step Solution:
Step 1: Recall from banking awareness that several Small Finance Banks have gradually been given scheduled bank status. Step 2: Remember that exam oriented updates specifically highlighted Utkarsh Small Finance Bank when it was added to the Second Schedule. Step 3: Evaluate Janalakshmi and Suryoday as other Small Finance Banks, but note that they are not the ones most commonly linked with the early notification about the Second Schedule. Step 4: Eliminate the option none of these because at least one of these banks has indeed been granted scheduled bank status in the Second Schedule. Step 5: Select Utkarsh Small Finance Bank as the correct answer based on standard general awareness references.

Verification / Alternative Check:
In many banking exam capsules and current affairs compilations, Utkarsh Small Finance Bank is mentioned along with the news that it has been included in the Second Schedule to the RBI Act, 1934. This gives it scheduled bank status. It is useful to associate Utkarsh with this milestone to quickly recall the answer in multiple choice questions.

Why Other Options Are Wrong:
Janalakshmi Small Finance Bank and Suryoday Small Finance Bank are genuine Small Finance Banks but they are not the ones highlighted in the common exam reference regarding inclusion in the Second Schedule for the period in question. The option none of these is incorrect because at least one bank from the list, namely Utkarsh, has obtained scheduled status.

Common Pitfalls:
A frequent mistake is to pick none of these when the candidate is unsure, or to guess based only on name familiarity. Another issue is that the status of banks may change over time, so learners must keep track of current affairs for the period relevant to the exam or interview. However, for most exam questions similar to this one, Utkarsh Small Finance Bank is the expected answer.

Final Answer:
The Small Finance Bank included in the Second Schedule of the RBI Act, 1934 is Utkarsh Small Finance Bank.