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Which bank allowed SFBs as Agency Bank to conduct Govt Business?
A)
HSBC Bank
B)
CityBank
C)
Central Bank of India
D)
Reserve Bank of India

Correct Answer : Option (D) - Reserve Bank of India


Reserve Bank of India, in consultation with the Department of Financial Services, the Ministry of Finance, has decided to make the Scheduled payments banks and scheduled small finance banks (SFBs) eligible to conduct Government agency business. In May this year, RBI has revised the existing guidelines on ‘Appointment of Scheduled Private Sector Banks as Agency Banks of RBI’ for authorising Scheduled Private Sector Banks as agency banks of RBI for conducting govt business (Central and/or State).

Published On : December 19, 2021
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