Local Area Banks (LABs) in India

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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

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

What is the classification of a Local Area Bank in India?

Always Non-scheduled Bank

Can be Scheduled or Non-scheduled Bank

Always Scheduled Bank

None of the above

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

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

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