Question
How many Local Area Banks are there in India?
Solution
There were four local area banks (LABs) at the end of March 2016. However, this number reduced to three with the Capital Local Area Bank transforming into a Small Finance Bank (SFB) w.e.f. April 24, 2016. Three LABs now are- 1. Coastal Local Area Bank Ltd, Vijaywada 2. South Gujarat Local Area Bank Ltd, Navsari 3. Krishna Bhima Samruddhi Local Area Bank Ltd., Mahbubnagar
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