BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Mumbai
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Bengaluru
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Chennai
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Kolkata
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Detailed explanation-1: -History. Bandhan was set up in 2001 as a not-for-profit entity with the objective of financial inclusion and women empowerment through sustainable livelihood creation. It started its microfinance operations from Bagnan, a small village, about 60 km from Kolkata.
Detailed explanation-2: -2015. Bandhan Bank started operations as a universal bank on August 23. It became the first microfinance company in India to get a universal banking licence. On the day of the launch, the Bank started with 2, 523 banking outlets.
Detailed explanation-3: -In 1974, SEWA (Self-Employed Women’s Association) Bank, a cooperative bank, was established in Ahmedabad; as one of the first modern-day microfinance institutions in the country.
Detailed explanation-4: -Bandhan is the first microfinance company to start operation as a commercial bank. Q. Bandhan Financial Services, a Micro Financial Institution (MFI), on 23 August 2015 started operations as a Scheduled Commercial Bank (SCB). Henceforth it will be called as Bandhan Bank.