Recently RBI has asked which of the following bank to immediately stop transactions under the Liberalised Remittance Scheme (LRS) until further notice?
The Reserve Bank of India has asked SBM Bank (India), the Indian subsidiary of State Bank of Mauritius (SMB), to immediately stop transactions under the Liberalised Remittance Scheme (LRS) until further notice.The action was based on certain material supervisory concerns observed in the bank.
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