Banking Institutions and History

Option (3) is the correct answer. 

UTI (Unit Trust of India) historically holds the largest corpus of mutual fund assets in India, larger than bank-owned mutual funds, private sector mutual funds, or insurance companies.

S. Raman served as the Chairman of Canara Bank, one of India's major public sector banks. Canara Bank is headquartered in Bengaluru and is among the oldest nationalized banks in India. The other options listed are also major Indian banks, but S. Raman was specifically associated with Canara Bank.

Correct answer is (3). 

State Bank of Indore was merged with the State Bank of India in August, 2010.

State Bank Subsidiaries were nationalized in 1959.

"We understand your world" is the punch line of HDFC.

IDBI Bank Limited is an Indian financial service company headquartered Mumbai, India. RBI categorised IDBI as an other public sector bank.

There are no branches of Heritage Bank in India.

Correct answer:- 4 Karnataka Bank

As of 2020-21, India has only 12 public sector banks following major consolidation mergers (like PNB+OBC+UNI, etc.). The number 27 might have been accurate historically (before mergers in 2017-2020), but is currently incorrect. The landscape has changed significantly due to government-driven consolidation.

Head office of Union Bank of India is in Mumbai.

India Infrastructure Finance Company Limited (IIFCL) provides guarantees for infrastructure loans to encourage infrastructure development in the country. It was established to provide long-term financial assistance to infrastructure projects. IDBI, SBI, and SIDBI are primarily banking and financial institutions but not specifically focused on infrastructure loan guarantees.

Life Insurance Corporation (LIC) received RBI approval to issue pre-paid cards to its clients, expanding its financial services beyond insurance. GIC, SIDBI, and NABARD are other financial institutions but were not granted this specific approval for pre-paid cards during the period referenced.