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Which of the following banks has been empanelled by the Reserve Bank of India (RBI) to act as an 'Agency Bank' to facilitate transactions related to government businesses?

Current Affairs Quiz August 2021 . 2 years ago

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Who: IndusInd Bank
What: gets empanelled as Agency Bank to RBI
When: published on 4th August 2021

IndusInd Bank on Tuesday said it has been empanelled by the Reserve Bank of India (RBI) to act as an 'Agency Bank' to facilitate transactions related to government businesses.

It will strengthen the bank's presence within the government domain, IndusInd Bank said.

The announcement comes close on the heels of a recent RBI guideline that authorises scheduled private sector banks as agency banks of the regulator for the conduct of government business.

With this, IndusInd Bank joins ranks with few other private banks of the country to carry out general banking business on behalf of the central and state government, while also offering customers - the convenience of undertaking routine financial transactions through its banking platform, the bank said in a release.

Hence, the correct answer is option D. (Read more)
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Posted on 03 Jul 2022, this text provides information on Current Affairs Quiz related to August 2021. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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