Question
Consider the following statement/s about a banking
institution: Statement : 1. State Bank of India (SBI) is the largest bank in India by assets. Statement : 2. Punjab National Bank (PNB) is a subsidiary of State Bank of India (SBI). Statement : 3. Reserve Bank of India (RBI) is the regulatory authority for banking in India. Which of the above statements is/are not correct?Solution
State Bank of India (SBI) is indeed the largest bank in India by assets. However, Punjab National Bank (PNB) is not a subsidiary of SBI; both are separate entities in the Indian banking sector.
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