BANKING GENERAL KNOWLEDGE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Postal bank of India
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Central bank of India
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State bank of Mysore
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Canada bank
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Detailed explanation-1: -Assertion-To expand banking services, the Indian Postal Department has started a new bank, called the Postal Bank of India.
Detailed explanation-2: -India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India.
Detailed explanation-3: -The post office offers a number of savings plans, including Recurring Deposit Account, Sukanya Samriddhi Account (SSA), National Savings Certificates (NSC), Kisan Vikas Patra (KVP), Public Provident Fund, Savings bank account, Monthly-income plans, Senior-citizens’ savings plans and Time deposit accounts.
Detailed explanation-4: -Because they do not perform bank’s essential function of lending.