2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bank of Baroda
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Canara Bank
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Bank of Maharashtra
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People’s Co-Operative Bank Ltd
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Detailed explanation-1: -The banks whose permits have been cancelled by the RBI include Independence Cooperative Bank Limited, Mantha Urban Cooperative Bank Ltd, People’s Cooperative Bank Limited, Mudhol Cooperative Bank Limited, Millath Cooperative Bank Limited and others.
Detailed explanation-2: -The bank will cease to carry on banking business, with effect from September 22, 2022.
Detailed explanation-3: -In April 2014, the RBI had given in-principle approval to Bandhan Bank Ltd. and IDFC Bank to start universal banking operations. IDFC Bank has since merged with Capital First Ltd. to form IDFC First Bank.
Detailed explanation-4: -PACS are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India. StCBs/DCCBs are registered under the provisions of State Cooperative Societies Act of the State concerned and are regulated by the Reserve Bank.