![Union Bank to Buy Stakes of Bank of Baroda and Indian Overseas Bank Union Bank to Buy Stakes of Bank of Baroda and Indian Overseas Bank](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgzXKZvtny6gMlsTJzGqBjPd1wrw0poH8brgYkwBY3n2IspRfcx50DXpBSeaSK_rTummH8n8G7EsbgkzWDK5mxKkNyirJtUqzkb4kHdSqCpOlaxyeHw9v3yzHyChDNom5nFuTaD5n2wUnr9vz_hn3qVYoG-sFi8cOed_Com3oPHckN_bUCskZ8R7J9LCQ/w320-h213-rw/Indian_Overseas_Bank.jpg)
- Following the Prompt corrective Action norm of the RBI, IOB has devolved her shares in the India International Bank Malaysia to the Union Bank.
- India International Bank Malaysia was incorporated in August 2011 with Andhra Bank as the Promoter holding a 25 % stake.
- Looking at the size of the market in Malaysia, it was an effort to capitalize on the ever-growing sectors, the services sector in particular in Malaysia. However, as of March 2021 data, the bank slipped to a loss of 70,000 Ringgit.
Question:
Q.1 What is the currency of Malaysia?a. Rubal
b. Dinar
c. Ringgit
d. Malaysian ringgit