Question
Download Solution PDFThe Reserve Bank of India (RBI) has excluded which of the following banks from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020?
Answer (Detailed Solution Below)
Option 2 : Lakshmi Vilas Bank
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Detailed Solution
Download Solution PDFThe correct answer is Lakshmi Vilas Bank.
- The Reserve Bank of India (RBI) had excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020.
- A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'.
- It has been excluded with effect from 27 November 2020.
- RBI:
- Governor - Shaktikanta Das.
- Headquarters - Mumbai.
- Founded: 1 April 1935, Kolkata.
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