CURRENT AFFAIRS

Detailed explanation-1: -Credit: Nivas10798. Indian Overseas Bank (IOB) has launched a new savings account called IOB Trendy for the millennial population in the country.

Detailed explanation-2: -II) NON RESIDENT EXTERNAL (NRE) ACCOUNTS NRE Accounts are Indian rupee denominated accounts that can be maintained as Savings, Current or Term Deposit. Accounts can be maintained individually or jointly with other NRI/PIO with Former or survivor clause.

Detailed explanation-3: -IOB SCHEMES IOB Trendy Schemes has been launched for young generation customers with attractive features. IOB INSURANCE Avail PMJJBY, PMSBY, Atal Pension Yojana, Sukanya Samridhi Scheme, NPS, Senior Citizen Savings Scheme and various other government scheme by visiting any Branch of IOB.

Detailed explanation-4: -Millennials want to carry out their banking activities with minimal fuss, and they routinely rely on technology to help them do it. Millennials are logging into their mobile banking apps most often to: Schedule person-to-person money transfers. Transfer funds between accounts.

Detailed explanation-5: -A daily minimum balance of ₹5, 000 and a Digital turnover of a minimum of ₹20, 000 per month (Transactions using IOB ATM / CDM / IOB Mobile Banking or Internet Banking fund transfer / IOB UPI transactions or IOB Debit card POS transactions)