New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Which Private sector lender has been authorized by the

    RBI to undertake government business on behalf of the banking regulator?
    A Bandhan Bank Ltd. Correct Answer Incorrect Answer
    B CSB Bank Limited Correct Answer Incorrect Answer
    C Dhanlaxmi Bank Ltd. Correct Answer Incorrect Answer
    D IDFC FIRST Bank Limited Correct Answer Incorrect Answer
    E Tamilnad Mercantile Bank Ltd. Correct Answer Incorrect Answer

    Solution

    Private sector lender Tamilnad Mercantile Bank (TMB) has been authorised by the Reserve Bank of India to undertake government business on behalf of the banking regulator. An agreement in this connection was signed by the bank with RBI in Mumbai for appointing TMB as an 'agency bank' of RBI to undertake government agency business.

    Practice Next

    Relevant for Exams: