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Question

Which Indian public sector bank got the approval from RBI to hold special rupee Vostro accounts of three banks from Sri Lanka?

A State Bank of India Correct Answer Incorrect Answer
B Canara Bank Correct Answer Incorrect Answer
C Punjab National Bank Correct Answer Incorrect Answer
D Indian Bank Correct Answer Incorrect Answer
E None of the above Correct Answer Incorrect Answer

Solution

Indian Bank, which has a lengthy history in Sri Lanka, has acquired the Reserve Bank of India (RBI) regulatory approval to maintain special rupee Vostro accounts of three banks from the South Asian island nation, which is dealing with a severe foreign exchange crisis. The special accounts are anticipated to be activated soon by the Chennai-based public sector bank.

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