Question

Assertion - To expand banking services, the Indian Postal Department has started a new bank, called the Postal Bank of India.

Reason - It is easy for Postal Bank of India because it will use the existing post office networks of the country to deliver various banking services.

• A. Assertion is correct
• B. Assertion is wrong
• C. Both assertion and reason are wrong
• D. Reason is correct

Answer 1

Answer: (A), (D)

Reason is correct

To expand banking services, the Indian Postal Department has started a new bank called the Postal Bank of India. It will use the existing post office networks of the country to deliver various banking services. The Postal bank offeres services like Post Office Savings Bank, Issue of National Savings Certificate, Kissan VikasPatra, Monthly Recurring deposits, Postal Life Insurance, Pension payment, and Money transfer.