CURRENT AFFAIRS

2017

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Recently, Federal Bank gets RBI nod to open offices in
A
Japan and Malaysia
B
Kuwait and Malaysia
C
Japan and Singapore
D
Kuwait and Singapore
Explanation: 

Detailed explanation-1: -Answers. Federal Bank has obtained the regulatory nod from RBI (Reserve Bank of India) to open offices in Bahrain, Kuwait and Singapore. Federal Bank is waiting for local clearances to start operations. It already has representative offices in Abu Dhabi and Dubai.

Detailed explanation-2: -The new branches include Mehdipatnam in Telangana, Bangalore / Thanisandra in Karnataka, Kanpur Ashok Nagar in Lucknow, Jabalpur in Madhya Pradesh, Sirunesalur and Mathandakuppam in Tamil Nadu.

Detailed explanation-3: -Federal Bank has been in the service of the nation since pre-Independence times. Incorporated on April 23, 1931, as the Travancore Federal Bank Limited, Nedumpuram under the Travancore Companies Regulation, 1916, the Bank was renamed as The Federal Bank Limited in December 1949, under the stewardship of Late K.P.

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