46. Local Area Banks can provide microfinance services to individuals and self-help groups.
a) True.
b) False.
Answer: a) True.
47. Local Area Banks are forbidden from extending credit facilities to large industrial companies.
a) True.
b) False.
Answer: b) False
48. Local Area Banks are allowed to offer online banking services to their customers.
a) True.
b) False.
Answer: a) True.
49. Local Area Banks have limited access to interbank markets for borrowing and lending purposes.
a) True.
b) False.
Answer: a) True.
50. The Reserve Bank of India has the authority to cancel the license of a Local Area Bank if it fails to comply with regulatory requirements.
a) True.
b) False.
Answer: a) True.
