Multiple choice

Which of the following banks has been appointed the “Income Tax Refund Banker” by the Government of India?

  1. Canara Bank

  2. SBI

  3. Bank of India

  4. J & K Bank

Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

State Bank of India (SBI) has been appointed as the 'Income Tax Refund Banker' by the Government of India. This means SBI handles the processing and payment of income tax refunds to taxpayers. Canara Bank and Bank of India are other major PSU banks but not designated for this specific role.