BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which of the following Bank has signed a pact with the Bank of China to boost business opportunities recently?
A
ICICI Bank
B
Punjab National Bank
C
State Bank of India
D
HDFC Bank
Explanation: 

Detailed explanation-1: -The country’s largest lender SBI Tuesday said it has signed a pact with the Bank of China to boost business opportunities.

Detailed explanation-2: -The SBI’s Shanghai branch is now connected to China’s National Advance Payment System (CNAPS), becoming the first Indian Bank to operationalise it.

Detailed explanation-3: -Business Correspondents are retail agents who represent banks and are responsible for delivering banking services at locations other than a bank branch/ATM. BCs support banks in providing its limited range of banking services at affordable cost. Thus, they are pivotal in promoting financial inclusion.

Detailed explanation-4: -The Bank of China (BOC; Chinese: ; pinyin: Zhōngguó Yínháng) is a Chinese majority state-owned commercial bank headquartered in Beijing and the fourth largest bank in the world.

Detailed explanation-5: -[8th May, 1955.] An Act to constitute a State Bank for India, to transfer to it the undertaking of the Imperial Bank of India and to provide for other matters connected therewith or incidental thereto.

There is 1 question to complete.