CURRENT AFFAIRS

Detailed explanation-1: -Yes Bank gets RBI nod to open offices in London, Singapore - The Hindu.

Detailed explanation-2: -The RBI notified the effective date of merger soon after the Union Cabinet headed by Prime Minister Narendra Modi approved the Scheme of Amalgamation of LVB with DBS Bank India Ltd. All the branches of LVB will function as branches of DBS Bank with effect from Nov. 27, the Reserve Bank of India said in a statement.

Detailed explanation-3: -The State Bank of India works as RBI’s agent at places where it has no office of its own.

Detailed explanation-4: -The Central Office of the Reserve Bank was initially established in Kolkata but was permanently moved to Mumbai in 1937.