Question

Which bank received approval and Authorised Dealer Category 1 license from the RBI to provide a wide range of foreign exchange services in October 2024?

• A. Suryoday Small Finance Bank
• B. Au Small Finance Bank
• C. Jana Small Finance Bank
• D. Ujjivan Small Finance Bank

Answer 1

Answer:

D. Ujjivan Small Finance Bank

In October 2024, Ujjivan Small Finance Bank received approval and an Authorised Dealer Category 1 license from the Reserve Bank of India (RBI). This license allows the bank to offer a wide range of foreign exchange products and services.Ujjivan Small Finance Bank has obtained approval from the Reserve Bank of India for foreign exchange services, receiving the 'Authorised Dealer Category 1 licence.' This allows the bank to offer a variety of foreign exchange products, enhancing its service capabilities.