Current Affairs - Banking - Discussion

Discussion Forum : Banking - Latest Current Affairs (Q.No. 289)

2023-07-01 Banking

289.

The Reserve Bank of India (RBI) has revoked the banking permit of which bank?

Bandhan Bank

Mahalaxmi Cooperative Bank Ltd

Muthoot Finance Ltd.

Bajaj Finance Limited

Answer: Option

Explanation:

The Reserve Bank of India (RBI) made a significant announcement on June 27, revoking the banking permit of Mahalaxmi Cooperative Bank Ltd in Dharwad, Karnataka. However, in a subsequent move, the RBI granted the institution a non-banking institution license, allowing it to continue its operations.