Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.133)

133. 

Which organisation has ceased the Banking operations by the Aditya Birla Idea Payments (ABIP) Bank under Banking Regulations Act 1949 with effect from July 28, 2020?

[A]. RBI
[B]. SEBI
[C]. SIDBI
[D]. SBI

Answer: Option A

Explanation:

Reserve Bank of India has ceased the Banking operations by the Aditya Birla Idea Payments (ABIP) Bank under Banking Regulations Act 1949 with effect from July 28, 2020. Now the bank company could not able to work successfully and applied for voluntary winding up by the Vodafone Idea Limited which holds 51% in ABIP bank and the remaining 49% by Grasim Industries Limited.

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