Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.56)


The Reserve Bank of India barred which of the following bank from doing business for six months?

[A]. Mizoram Co-operative Apex Bank
[B]. Repco Bank
[C]. TNSC Bank
[D]. Punjab & Maharashtra Cooperative Bank

Answer: Option D


The Reserve Bank of India (RBI) barred the Punjab & Maharashtra Cooperative Bank Ltd (PMC Bank), Mumbai to carry out the majority of its routine business for 6 months. RBI's direction: RBI has barred the PMC Bank from carrying out its functions including granting, renewing and loans and advances, make any investments, accept fresh deposits, transactions for a period of six months.

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