What does the inclusion of NongHyup Bank in the Second Schedule of the RBI Act, 1934 signify for India-South Korea relations?

(a) It imposes restrictions on financial transactions between India and South Korea.
(b) It fosters increased collaboration and investment opportunities between the two nations.
(c) It allows NongHyup Bank to operate as an independent bank without any regulatory oversight.
(d) It establishes NongHyup Bank as the central bank for both India and South Korea.

Ans.(b)
Sol. The inclusion of NongHyup Bank in the Second Schedule of the RBI Act, 1934 strengthens the financial ties between India and South Korea. It fosters increased collaboration and investment opportunities, promoting a deeper economic relationship between the two countries.