Correct Answer : Option (B) - Setu
* Google has partnered with a fintech company, Setu.
* The partnership will allow its users to open fixed deposits (FD) using Google Pay app. Setu is a fintech company that is an expert in offering APIs (application programming interfaces) and it has created the beta version of API which can offer FDs.
* The FDs through this beta version are of tenors like 7-29 days, 30-45 days, 46-90 days, 91-180 days, 181-364 days, and 365 days.
* The interest rates linked to these FDs will vary from 3.5% for the shortest FD to 6.35% for the FD with one year tenor.
* To avail of this FD, users will have to complete their KYC procedures using Aadhar through OTP submission.
* The users can open an FD account even without having an account with the bank which offers FD.
* At the initial stage, FDs of Equitas Small Finance Bank will be offered for a period of 1 year carrying a maximum interest rate of 6.35%.