Question

    Consider the following statement/s about a banking institution:

    Statement : 1. State Bank of India (SBI) is the largest bank in India by assets.

    Statement : 2. Punjab National Bank (PNB) is a subsidiary of State Bank of India (SBI).

    Statement : 3. Reserve Bank of India (RBI) is the regulatory authority for banking in India.

    Which of the above statements is/are not correct?

    A 1 only Correct Answer Incorrect Answer
    B 2 only Correct Answer Incorrect Answer
    C 3 only Correct Answer Incorrect Answer
    D 1 and 2 both Correct Answer Incorrect Answer
    E 2 and 3 both Correct Answer Incorrect Answer

    Solution

    State Bank of India (SBI) is indeed the largest bank in India by assets. However, Punjab National Bank (PNB) is not a subsidiary of SBI; both are separate entities in the Indian banking sector.

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