CURRENT AFFAIRS

Detailed explanation-1: -ESAF Small Finance Bank introduces special Rainbow savings account for transgenders. On Tuesday, ESAF Small Finance Bank Ltd. introduced a “Rainbow Savings Account” with a number of features designed specifically for the transgender community, including a high savings rate and cutting-edge debit card capabilities.

Detailed explanation-2: -KVB’s Rainbow Savings Bank Scheme (RBSB Account) is a perfect blend of all the good features of a Savings Bank Account and a Fixed Deposit Account that offers “High liquidity with maximum returns”.

Detailed explanation-3: -History and operations Jacob Samuel, one of the co-founders, coined the name ESAF, which is an acronym for Evangelical Social Action Forum. At inception, ESAF had five life members, seven annual members and eight honorary members.

Detailed explanation-4: -As on 31st March 2022 ESAF Small Finance Bank has 575 banking outlets spread across 21 States and 2 Union Territories. The Bank offers a host of modern banking services like ATMs, Debit Card, Safe Deposit Lockers, Internet banking, Mobile Banking, Agent banking, SMS banking, RTGS, NEFT, CTS etc.

Detailed explanation-5: -K. Paul Thomas is the Founder of ESAF Group of Social Enterprises including ESAF Microfinance and Investments Pvt Ltd.