2018
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Indian Financial Service Code
|
|
|
Indian Financial Standard Code
|
|
|
Indian Financial System Code
|
|
|
International Financial Service code
|
Detailed explanation-1: -Post the merger of its five associates, State Bank of India (SBI) has changed names and Indian Financial System Code (IFSC) codes of nearly 1, 300 of its branches.
Detailed explanation-2: -The change in IFSC Code took place after State Bank of India (SBI) merged its associate banks State Bank of Bikaner and Jaipur, State Bank of Patiala, State Bank of Travancore, State Bank of Hyderabad, State Bank of Mysore and also Bharatiya Mahila Bank into itself.
Detailed explanation-3: -These associate banks included State Bank of Jaipur, Bikaner, Mysore, Travancore, Hyderabad, and Patiala. The sixth bank was the Bharatiya Mahila Bank. Although the banks were merged, the shares of this associate were termed as individual entities. There are many reasons that were cited for the merger.
Detailed explanation-4: -SBI Changed IFSC Codes of 1300 Branches.