Question
Consider the following statements regarding the recently launched “India Post Payment Bank”:
Select the correct answer using the code given below:
- It allows demand and fixed deposit both
- It allows savings and current accounts both
- It is a public sector company
Select the correct answer using the code given below:
Answer: Option B
Answer: (b)
India Post Payment Bank is a public sector enterprise and comes under the Department of Posts, Ministry of Communications. It is a payment bank and accepts only demand deposits (current and savings account).
‘Department of Post’ is a department of Govt. of India to provide mail and various services. Now, Govt. of India (through the Department of Post, Ministry of Communication) created a wholly-owned PSU, ‘India Post Payment Bank’, to provide banking facilities.
Was this answer helpful ?
Answer: (b)
India Post Payment Bank is a public sector enterprise and comes under the Department of Posts, Ministry of Communications. It is a payment bank and accepts only demand deposits (current and savings account).
‘Department of Post’ is a department of Govt. of India to provide mail and various services. Now, Govt. of India (through the Department of Post, Ministry of Communication) created a wholly-owned PSU, ‘India Post Payment Bank’, to provide banking facilities.
Was this answer helpful ?
More Questions on This Topic :
Latest Videos
Latest Test Papers
Submit Solution