GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Utility services provided by banks
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Eligible financial services rendered by banks
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Services provided to armed forces personnel
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Services provided through business correspondents
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Detailed explanation-1: -The correct answer is Option(4) i.e. Utility services provided by banks. Explanation: Banks can undertake certain eligible financial services or activities either departmentally or by setting up subsidiaries is called Para Banking.
Detailed explanation-2: -Retail banking provides financial services to the general public. Also referred to as consumer or personal banking, this side of the industry allows consumers to manage their money by giving them access to basic banking services, credit, and financial advice.
Detailed explanation-3: -Advancements of loans. Cheque payments. Discounting on bills of exchange. Collecting and paying the credit instruments. Guarantee by banks. Consultancy. Credit cards. Funds remittance. More items