Question

Which bank has started insolvency resolution process against Lanco Infratech Ltd. following a directive from the Reserve Bank of India (RBI), while this is the first resolution process initiated by the lenders against 12 large borrowers identified by the RBI recently?

• A. State Bank of India
• B. IDBI Bank
• C. Punjab National Bank
• D. Bank of India

Hint:

When answering current affairs questions related to banking and insolvency, always connect the institution (bank) with the company or directive mentioned by RBI/SEBI to avoid confusion.

Answer 1

The Correct Option is B

1. State Bank of India, Punjab National Bank and Bank of India were not the lenders that filed this case.
2. IDBI Bank, with major exposure to Lanco Infratech, filed for insolvency resolution against it as directed by the RBI.

The bank is IDBI Bank.