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Local Area Banks (LABs) in India
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1.
Which of the following is correct statement about Local Area Banks (LABs)?
They are scheduled Banks working primarily in urban areas
They are non-scheduled Banks predominantly operating in semi-urban and rural areas
They were banks that operated in past but dont exist now in India
They are NOT regulated by RBI
2.
Which of the following is not a correct statement about the Local Area Banks?
They were established as public limited companies in the private sector
They are promoted either by individuals , corporate, trusts or societies
The minimum paid up capital of such banks was Rs. 5 crores
They are eligible to borrow funds from RBI but can not accept public deposits
3.
What type of a bank is a Local Area Bank?
Scheduled Banks
Non-scheduled Banks
Un-scheduled Banks
None of the above
4.
With which bank South Gujarat Local Area Bank Ltd was merged in 2004?
Punjab National Bank
State Bank of India
Bank of Baroda
Syndicate Bank
5.
Which of the following Local Area Banks was converted to a Small Finance Bank in 2016?
Subhadra Local Area Bank Ltd
Coastal Local Area Bank Ltd
Capital Local Area Bank Ltd
Krishna Bhima Samruddhi Local Area Bank Ltd
Submit Test
These questions are part of Banking Awareness - 2025-26 course in GKToday's Android Application. The Course comprises 2400+MCQs on Banking & General Financial Awareness with explanation for All Banking Exams of 2025-26 such as IBPS Bank PO, IBPS Bank Clerical, RRB PO and Clerical, SBI PO and SBI Clerical, IBPS Recruitments, RBI Grade B and RBI Banking Examinations.
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