Number of Local Area Banks in India

Q.  What is the present number of Local Area Banks in India?
- Published on 15 Feb 17

a. 3
b. 4
c. 5
d. 6

ANSWER: 4
 
Local Area Banks were set up as per a Government of India Scheme announced in August 1996.

There are only four Local Area Banks (LAB) in India, which exist in the form of Non-scheduled banks.

They are as follows:

Coastal Local Area Bank Ltd.

Founded : 27 December 1999
Headquarter : Vijayawada (Andhra Pradesh)
Area of Operation : Krishna, Guntur and West Godavari

Capital Local Area Bank Ltd.

Founded : 14 January 2000
Headquarter : Phagwara (Punjab)
Area of Operation : Jalandhar, Kapurthala and Hoshiarpur

Krishna Bhima Samruddhi Local Area Bank Ltd.

Founded : 28 February 2001
Headquarter : Mahbubnagar (Andhra Pradesh)
Area of Operation : Mahbubnagar in Andhra Pradesh, Raichur and Gulbarga in Karnataka

Subhadra Local Area Bank Ltd.

Founded : 1996
Headquarter : Kolhapur, Maharashtra
Area of Operation : Kolhapur

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    Discussion

  • Shubham kumar   -Posted on 26 Sep 21
    Excellent matterial

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