Multiple choice

Local area banks are required to increase their capital from Rs. 5 crore to ____________ in next 5 to 7 years.

  1. Rs. 10 crore

  2. Rs. 20 crore

  3. Rs. 25 crore

  4. Rs. 50 crore

  5. Rs. 15 crore
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

RBI guidelines for Local Area Banks (LABs) mandated an increase in minimum capital from Rs. 5 crore to Rs. 25 crore within a specified timeframe to ensure financial stability.

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