The Defence ministry gave private sector banks permission to offer financial…

Concept

For a "which of the following" current-affairs item, the discipline is to match the option set against the FULL official announcement rather than a partial recollection: an option that names every relevant entity is correct only when all of them actually appeared in the same decision, while an option naming just one entity is correct only if that one was the sole entity named.

Application

The Ministry of Defence (MoD) decision opened defence financial services — issuance of letters of credit and direct bank transfers for overseas procurement of military equipment — to private-sector banks for the first time, a role previously limited to authorised public-sector banks. The same MoD order empanelled three private banks together: ICICI Bank, Axis Bank and HDFC Bank, each allotted letter-of-credit business for a one-year concurrent period. Because the announcement named these three jointly in one decision, the option that lists ICICI Bank, Axis Bank and HDFC Bank together is the complete and correct answer.

Cross-check

Any option that lists fewer than these three banks describes only a subset of what the order actually covered, so it cannot be the full answer; only the option naming ICICI Bank, Axis Bank and HDFC Bank together matches the source.