2017
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Dena bank
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State bank of India
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Canara Bank
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Axis Bank
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Detailed explanation-1: -Axis Bank paid Rs 385 crore to buy 100 percent in FreeCharge. Axis Bank Ltd on Thursday said that it has struck a deal to acquire digital payment platform FreeCharge in an all-cash deal.
Detailed explanation-2: -Axis Bank acquired Freecharge from Snapdeal in a Rs 385 crore ($60 million) deal in July 2017. Before that, Freecharge’s original founders Kunal Shah and Sandeep Tandon sold the wallet platform to Snapdeal for about Rs 3, 000 crore ($400 million) in April 2015.
Detailed explanation-3: -Axis Bank acquired an 100% shareholding of Freecharge for Rs. 385 crores outside its main line of business with an expectation to help the bank take a leap towards digital distribution of financial products to provide its customers in a more efficient manner.
Detailed explanation-4: -Sparsh: Embedding consumer obsession and building distinctive experience for Axis consumers. Axis Bank has embarked upon a distinctiveness program called “Sparsh” to drive consumer obsession in the Bank. Sparsh is a passion and the aspiration is to become the most consumer obsessed bank in India.