Question

How many Local Area Banks are there in India? 

A Two Correct Answer Incorrect Answer
B Three Correct Answer Incorrect Answer
C Four Correct Answer Incorrect Answer
D Six Correct Answer Incorrect Answer
E Ten Correct Answer Incorrect Answer

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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