BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Eligible financial services rendered by bank
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Utility services provided by bank
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Services provided through business correspondent
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Services provided to armed force personnel
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Detailed explanation-1: -PARA means Public Sector Asset Rehabilitation Agency (PARA). It is also known as ‘Bad Bank. ‘Toxic assets can be removed from banks books and transferred to Bad Bank which has the sole purpose of aiding the recovery of risky assets.
Detailed explanation-2: -Most well-known banks have subsidiaries that offer numerous financial services such as dealing with mutual funds, investing in venture capital funds (VCF), leasing equipment, etc. These services are known as para banking services.
Detailed explanation-3: -The Para Banking activities include insurance business, portfolio management services, pension fund management, mutual funds business, money market mutual funds underwriting of bonds of PSUs, investment in venture capital funds, etc.