BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Providing of variety of financial services to the customers who are living outside their home country
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Providing of financial services to the customers who are living in home country
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Banking between two countries
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All of the above
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Detailed explanation-1: -Offshore banking describes a relationship that a company or individual has with a financial institution outside the country of their residence. This requires opening a bank account, making deposits, withdrawals, and transfers from that account-the exact same way you would with a bank account at home.
Detailed explanation-2: -International banking can provide the same services to its customers as domestic banks, but also provide additional services. International banks help financing trade through the use of letters of credit and export credit. They also provide exchange services, so that businesses can make payments in the local currency.
Detailed explanation-3: -International banking is just like any other banking service, but it takes place across different nations or internationally. To put it another way, it is an arrangement of financial services by a residential bank of one country to the residents of another country.
Detailed explanation-4: -A bank is a financial institution licensed to receive deposits and provide other services such as mortgage loans and individual retirement accounts.