CURRENT AFFAIRS

2020

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
Which bank become India’s first bank to launch cardless EMI facilities?
A
HDFC Bank
B
ICICI Bank
C
PNB Bank
D
SBI Bank
Explanation: 

Detailed explanation-1: -ICICI Bank is the first in the industry to introduce a fully digital, cardless EMI facility at retail stores.

Detailed explanation-2: -ICICI Bank, one of the leading private sector banks has introduced a cardless cash withdrawals facility from its ATMs. Banks have been trying to reduce the usage of debit cards to withdraw cash.

Detailed explanation-3: -Mumbai: ICICI Bank, the country’s largest private sector bank, announces the launch of EMI (Equated Monthly Instalments) facility on debit cards to enable its customers to convert their high value transactions into easy instalments. The Bank is the first in the country to introduce this facility.

Detailed explanation-4: -Detailed Solution. ICICI Bank announced the launch of a ‘cardless cash withdrawal’ facility from its ATMs. This service allows the bank customers to withdraw cash from any ICICI Bank ATM without a debit card 24X7. There is no requirement to carry and use the debit card or ATM PIN to withdraw cash for daily usage.

Detailed explanation-5: -Central Bank of India was the first Bank to introduce credit cards in India.

There is 1 question to complete.