GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which was the first Indian Bank to introduce credit card?
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ICICI
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State Bank of India
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Union Bank of India
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Central Bank of India
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Explanation:
Detailed explanation-1: -Central Bank of India was one of the first banks in India to issue credit cards in the year 1980 in collaboration with Mastercard.
Detailed explanation-2: -The use of credit cards originated in the United States during the 1920s, when individual firms, such as oil companies and hotel chains, began issuing them to customers for purchases made at company outlets.
Detailed explanation-3: -The Diners Club Card: The First Modern Credit Card The idea came from Frank McNamara, a businessman who’d forgotten his wallet while out to dinner in New York. He and his business partner Ralph Schneider would soon invent the Diners Club card as a way to pay without carrying cash.
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