Correct Answer : Bank of Baroda
The Bank of Baroda has launched the 'Bob Utsav Deposit Scheme', a limited-period 400-day term deposit offering competitive interest rates to various depositor categories. The scheme provides interest rates ranging from 7.30% for general citizens to 7.90% for super senior citizens. Additionally, the Bank of Baroda has increased interest rates on term deposits for select tenors, including a 30 basis points increase for the 3-5-year bucket. This move aims to capitalize on the current interest rate cycle, providing attractive savings options for customers during the festive season.
Correct Answer : Axis Bank
The partnership between the International Finance Corporation (IFC) and Axis Bank resulted in a historic $500 million blue loan, representing India's first blue finance initiative. This loan is dedicated to supporting sustainable projects such as water management, marine ecosystem restoration, and green infrastructure development. As a significant climate finance initiative, it highlights the growing importance of blue loans in addressing environmental challenges and promoting sustainable growth in India. Axis Bank's commitment to sustainable lending underlines its role in fostering climate resilience through financial innovation.
Correct Answer : Bank of Maharashtra
The Life Insurance Corporation of India (LIC) has increased its stake in the Bank of Maharashtra from 4.05% to 7.10% by allotting 25.96 crore equity shares at ?57.36 each through a Qualified Institutional Placement (QIP). This strategic investment indicates LIC’s confidence in the bank's growth potential and aims to bolster its balance sheet for future expansion plans. The increase in shareholding surpasses 5%, demonstrating LIC's commitment to supporting the public sector bank. This move aligns with LIC's overall investment strategy amidst its recent adjustments in other holdings.
Correct Answer : State Bank of India
The State Bank of India (SBI) has partnered with Singapore Airlines to introduce the KrisFlyer SBI Card, a co-branded credit card designed for frequent travellers. The card is available in two variants : KrisFlyer SBI Card and KrisFlyer SBI Card Apex. Cardholders can earn KrisFlyer miles, with the base variant offering 3,000 miles and the Apex variant offering 10,000 miles. The partnership aims to provide customers with rewarding travel experiences and enhanced benefits. This collaboration strengthens SBI's presence in the Indian credit card market and expands its portfolio of co-branded offerings.
Correct Answer : Bengaluru
The Reserve Bank of India (RBI) organized a conference for the Directors of Small Finance Banks (SFBs) in Bengaluru. The focus of the conference was on the governance of SFBs and its role in promoting sustainable growth and stability. Bengaluru, being a significant hub for the banking and finance industry, was chosen as the venue. The conference also highlighted the importance of governance in ensuring the success and long-term stability of SFBs.
Axis Bank, one of India’s leading private sector banks, teamed up with Mastercard to introduce the MyBiz credit card, aimed at small business owners and sole proprietors. This premium card offers a range of benefits including airport lounge access, travel insurance, and specialized business services.It also provides exclusive experiences through priceless.com, enhancing the cardholder's lifestyle with curated opportunities in culinary arts, sports, and more.This collaboration leverages Axis Bank's market knowledge and Mastercard’s expertise to address the growing needs of small and medium-sized enterprises in India.
Bank of Baroda has partnered with EaseMyTrip to launch the Bank of Baroda EaseMyTrip Co-branded Travel Debit Card, the first of its kind by a public sector bank in India. This card offers significant discounts on travel and hotel bookings, complimentary OTT memberships, and e-commerce vouchers, providing substantial savings for frequent travellers and lifestyle enthusiasts. The collaboration reflects the growing trend towards customized financial products and customer-centric innovations.The card's features and benefits aim to redefine the travel and lifestyle experience for Bank of Baroda customers.
Correct Answer : YES Bank
YES Bank has collaborated with Paisabazaar to introduce the co-branded PaisaSave Cashback Credit Card, targeting frequent shoppers with substantial cashback rewards on everyday purchases. As India's sixth largest private sector bank, YES Bank aims to enhance customer value through this credit card, which offers up to 3% cashback on online transactions. This innovative card also supports unlimited cashback on both online and offline shopping and includes features such as a virtual YES BANK Rupay Credit Card for seamless UPI payments, making it a versatile choice for consumers looking to save while they spend.
Correct Answer : HSBC
HSBC India has launched a global education payments service that allows students and parents to directly pay tuition fees to more than 600 international universities and colleges. Accessible through the HSBC India mobile banking app, this service offers a fully digital process aimed at simplifying payments while reducing remittance costs compared to other available international education payment options. This initiative is designed to make education payments more efficient and cost-effective for customers.
Correct Answer : HDFC Bank
HDFC Bank is focusing on increasing the income of 5 lakh marginal farmers earning less than ?60,000 annually by 2025 through its Corporate Social Responsibility (CSR) initiative known as 'Parivartan'.Launched in 2014, Parivartan is one of India’s largest CSR programs and covers various pillars such as skill development, financial literacy, healthcare, and rural development. This initiative aims to foster sustainable growth and uplift rural communities by addressing critical areas such as income enhancement for marginal farmers and promoting inclusive development.
