Discussion
Which of the following received a banking licence from the Reserve Bank of India in 2014?
Answer: D
Correct answer: Both b and c
The RBI granted new universal banking licences in 2014 to IDFC and Bandhan - the first such licences in a decade, and awarded out of some twenty-five applicants. Bandhan came from microfinance and IDFC from infrastructure lending, and each had to convert itself into a bank.
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