Practice Question for IAS Prelime 2014: First all-women bank was inaugurated in Mumbai in November 2013. Which of the following statements are correct about it? 1. It will offer higher interest rate on savings bank deposits as compared to other public sector banks. 2. This is the first bank started in the public sector space by an Act of Parliament 3. Deposits will also be taken from men Code: a) Only 1 and 2 b) Only 2 and 3 c) Only 1 and 3 d) All of these Answer: D Explanation: 1.4.5 percent up to Rs 1 lakh and 5 per cent after that; 2. Other public sector banks were earlier private banks and nationalised in 1969 and 1980; 3.Primarily cater to the needs of women but deposits from men will also be accepted. • BMB, set up with a capital base of Rs 1,000 crore, is the first bank started in the public sector space by an Act of Parliament (other public sector banks were nationalised in two tranches in 1969 and 1980). The bank will have seven branches (Mumbai, Chennai, Kolkata, Guwahati, Bangalore, Ahmedabad and Lucknow) initially. These will soon be followed by branches in Delhi and Indore. The bank plans to have 25 branches in the next four months and thereafter add about 75 every year
Posted on: Wed, 04 Jun 2014 07:21:44 +0000
Trending Topics
Recently Viewed Topics
© 2015