BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Bank Saathi
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Bank Humraahi
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Bank Daata
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Bank Dost
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Detailed explanation-1: -Banks will provide basic services like deposits, withdrawal, Kisan Credit Card (KCCs) etc via Business Correspondents (BCs) also known as Bank Saathi.
Detailed explanation-2: -The accounts held between correspondent banks and the banks for which they provide services are referred to as nostro and vostro accounts. An account held by one bank for another is referred to by the holding bank as a nostro account or our account on your books.
Detailed explanation-3: -Business correspondents are bank representatives. They help villagers to open bank accounts. Business Correspondents get commission from bank for every new account opening, every transaction made via them, every loan-application processed etc.
Detailed explanation-4: -Business Correspondents are retail agents engaged by banks for providing banking services at locations other than a bank branch/ATM.