11. Who issues licenses to Local Area Banks in India?
a) Ministry of Finance.
b) Securities and Exchange Board of India (SEBI).
c) Reserve Bank of India (RBI).
d) Indian Banks’ Association (IBA).
12. The deposits in Local Area Banks are insured by which institution?
a) Insurance Regulatory and Development Authority (IRDAI).
b) Deposit Insurance and Credit Guarantee Corporation (DICGC).
c) Securities and Exchange Board of India (SEBI).
d) Reserve Bank of India (RBI).
13. Who can become a shareholder of a Local Area Bank in India?
a) Individuals residing in the specific local area.
b) Other banks and financial institutions.
c) Government entities.
d) All of the above.
14. Local Area Banks can accept deposits and provide loans to individuals, businesses, and institutions.
a) True.
b) False.
15. Which of the following services are typically provided by Local Area Banks?
a) Savings accounts.
b) Current accounts.
c) Fixed deposits.
d) All of the above.
