Which public-sector bank has been categorized as a private sector bank by the RBI recently?
A. PNB
B. IDBI Bank
C. Canara Bank
D. Dena Bank
Answer:B
Which public-sector bank has been categorized as a private sector bank by the RBI recently?
A. PNB B. IDBI Bank C. Canara Bank D. Dena Bank
Explanation: IDBI Bank has been categorised as a private sector bank following acquisition of majority stake by Life Insurance Corporation (LIC). This was announced by the Reserve Bank of India on 14 March 2019. LIC completed the process of picking up a controlling 51% stake in the nearly crippled IDBI Bank on 21 January 2019. Union Government’s holdings now stand at 46.6%. The bank had been under the prompt corrective action framework of RBI that bans it from corporate lending and branch expansions, salary hikes and other regular activities. IDBI Bank came into existence as a banking entity during September 2004.