Question
Which Private sector lender has been authorized by the
RBI to undertake government business on behalf of the banking regulator?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.
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