Bandhan Financial Services, a Micro Financial Institution (MFI), on 23 August 2015 started operations as a Scheduled Commercial Bank (SCB). Henceforth it will be called as Bandhan Bank. Consider the following statements:
Which of the above statement(s) is/are incorrect?
Bandhan Financial Services, a Micro Financial Institution (MFI), on 23 August 2015 started operations as a Scheduled Commercial Bank (SCB). Henceforth it will be called as Bandhan Bank. Consider the following statements:
Which of the above statement(s) is/are incorrect?
The correct option is A Only 1, 2 & 4
Bandhan became the first micro finance company in the country to start operations as a full-fledged commercial bank. It is also the first commercial bank from Eastern India to get RBI clearance since independence.
Bandhan along with IDFC (Infrastructure Development Finance Company) were granted banking licenses in 2014 by the Reserve Bank of India (RBI).
The scheduled commercial banks are those banks which are included in the second schedule of RBI Act 1934 and which carry out the normal business of banking such as accepting deposits, giving out loans and other banking services. The major difference between Scheduled Commercial Banks and Scheduled Cooperative Banks is their holding pattern, since cooperatives are registered under the Cooperative Societies Act as cooperative credit institutions.
Only 1, 2 & 4
Bandhan became the first micro finance company in the country to start operations as a full-fledged commercial bank. It is also the first commercial bank from Eastern India to get RBI clearance since independence.
Bandhan along with IDFC (Infrastructure Development Finance Company) were granted banking licenses in 2014 by the Reserve Bank of India (RBI).
The scheduled commercial banks are those banks which are included in the second schedule of RBI Act 1934 and which carry out the normal business of banking such as accepting deposits, giving out loans and other banking services. The major difference between Scheduled Commercial Banks and Scheduled Cooperative Banks is their holding pattern, since cooperatives are registered under the Cooperative Societies Act as cooperative credit institutions.
