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    Question

    RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd. including a cap of Rs 1 lakh on withdrawals. The Indian Mercantile Cooperative Bank is based at ______________.

    A Indore Correct Answer Incorrect Answer
    B Lucknow Correct Answer Incorrect Answer
    C Prayagraj Correct Answer Incorrect Answer
    D Bhopal Correct Answer Incorrect Answer
    E Chandigarh Correct Answer Incorrect Answer

    Solution

    RBI recently imposed several restrictions on Indian Mercantile Cooperative Bank Ltd, Lucknow, including a cap of Rs 1 lakh on withdrawals. RBI has imposed the above restriction in the exercise of powers vested in it under sub-section (1) of Section 35 A read with Section 56 of the Banking Regulation Act, 1949.

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