What action did the Reserve Bank of India (RBI) take regarding Mahalaxmi Cooperative Bank Ltd?

(a) Granted a non-banking institution license
(b) Cancelled its banking permit
(c) Revoked its license to operate in Karnataka
(d) Provided additional capital investment

Ans.(b)
Sol. The RBI announced the cancellation of Mahalaxmi Cooperative Bank Ltd’s banking permit while granting it a non-banking institution license.