CURRENT AFFAIRS

2020

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
According to the ‘Annual banking statistics, 2019’ report what is India’s rank in terms of money parked by its citizens and enterprises with Swiss banks at the end of the year 2019?
A
72
B
71
C
77
D
79
Explanation: 

Detailed explanation-1: -India was placed at 44th place, ahead of countries like Poland, South Korea, Sweden, Bahrain, Oman, New Zealand, Norway, Mauritius, Bangladesh, Pakistan, Hungary and Finland.

Detailed explanation-2: -Swiss bank minimum balance requirements For non-resident account holders, the balance requirements are substantial. Foreigners are accepted for wealth management purposes only. They can’t open a basic account for the execution of daily payments. Most Swiss private banks expect at least 1, 000, 000 CHF.

Detailed explanation-3: -All banks will require customers to prove their identity with an official document, usually a passport. If you are not able to go to Switzerland in person to open the account, you may complete the procedure by post by sending a copy of your passport certified by an approved institution.

Detailed explanation-4: -Although it is derived from “Union Bank of Switzerland, ” the name UBS is not an acronym. The bank is headquartered in Zürich and Basel, Switzerland. The Swiss Bank Corporation was founded in 1854 as the Basler Bank-Verein (Basel Bank Corporation) and became a joint-stock company in 1872.

There is 1 question to complete.