Correct Answer :   State Bank of India

The Ministry of Defence has launched the NCC Integrated Software, which is interactive software that follows an ‘Entry to Exit Model’ and serves as a single window platform for NCC Cadets.

* This was developed in collaboration with the Bhaskaracharya Institute for Space Applications and Geo Informatics (BISAG) and step towards digitisation and the Digital India mission.

* The NCC Integrated Software will digitise the entire process from cadet enrollment in the NCC to their exit registration as alumni. This software also streamlines the issuance of certificates and creates a nationwide database of NCC cadets for future employment purposes.

* During the launch event, the NCC and State Bank of India (SBI) signed a memorandum of understanding (MoU) in the presence of Defence Minister Rajnath Singh. This MoU facilitates the opening of zero balance accounts with debit card, chequebook, and passbook facilities for all NCC cadets under SBI's ‘Pahli Udaan’ scheme.

* Approximately 500,000 cadets will benefit from this collaboration annually.

* The accounts will remain active until the completion of training or when the cadets reach 18 years of age, whichever is later. This initiative not only introduces cadets to the national banking system but also provides them with a platform to access government schemes through direct benefit transfer (DBT) of funds into their accounts..

Source : Business Standard