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LAB (Local Area Bank) s are classified as which type of bank under India’s banking system?

AScheduled commercial bank

BForeign bank

CNon-scheduled bank

DCooperative bank

Answer:

C. Non-scheduled bank

Read Explanation:

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Which of the following pairs is correctly matched with respect to capital or paid up capital requirements? Institution Minimum Paid-Up / Initial Capital Requirement

  1. Local Area Bank ₹5 crore

  2. Small Finance Bank ₹300 crore (revised)

  3. Payment Bank ₹100-200 crore

  4. All of the above

Choose the correct option: