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The Reserve Bank of India (RBI) has excluded which of the following banks from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020?

The Reserve Bank of India (RBI) has excluded which of the following banks from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020? Correct Answer Lakshmi Vilas Bank

The correct answer is Lakshmi Vilas Bank.

  • The Reserve Bank of India (RBI) had excluded Lakshmi Vilas Bank (LVB) from the Second Schedule of the RBI Act after it was merged with DBS Bank India Ltd (DBIL) in 2020.
  • A bank mentioned in the Second Schedule of the Reserve Bank of India Act is known as 'Scheduled Commercial Bank'.
  • It has been excluded with effect from 27 November 2020.
  • RBI:
    • Governor - Shaktikanta Das.
    • Headquarters - Mumbai.
    • Founded: 1 April 1935, Kolkata.

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