Current Affairs - National - Discussion

Discussion :: National - Latest Current Affairs (Q.No.771)

771. 

Under RBI's new directives, what is the minimum initial capital required to set up a new universal bank?

[A]. Rs 500 crore
[B]. Rs 700 crore
[C]. Rs 1000 crore
[D]. Rs 800 crore

Answer: Option C

Explanation:

The initial paid-up voting equity share capital/ net worth required to set up a new universal bank has been increased to Rs 1000 crore (from present Rs 500 crore).

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