SBI engages IOC Kisan Seva Kendras as banking correspondents

Q.  SBI has engaged which corporation’s Kisan Seva Kendras as banking correspondents to extend banking facilities to farmers across the nation?
- Published on 29 Jul 16

a. IOC
b. GAIL
c. SAIL
d. ONGC

ANSWER: IOC
 
SBI has engaged Indian Oil Corporation’s Kisan Seva Kendras as banking correspondents to extend banking facilities to farmers across the nation.
  • SBI signed an MoU with IOC as part of the financial inclusion programme lending further services to the farming community.
  • Indian Oil Corporation has set up 6,500 Kisan Seva Kendras in rural and remote areas providing access to numerous agricultural inputs like seeds, fertilisers and pesticides to farmers.
  • Tie up will enable farmers to avail various products and services by SBI customer service points such as saving account, recurring deposit and more.
  • IOC with net profit of INR 103.99 billion for 2015-2016 is India’s largest commercial enterprise.

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