Universal Banking
Q. When financial institutions and banks undertake, activities related to banking like investment, issue of debit and credit card etc., then it is known as ______.- Published on 07 Feb 17a. Internet Banking
b. Universal Banking
c. Virtual Banking
d. Wholesale Banking
ANSWER: Universal Banking
Universal banking is a banking system in which banks provide a wide variety of financial services, including commercial and investment services.
Universal banking combines the services of a commercial bank and an investment bank, providing all services from within one entity.
Universal banks may offer credit, loans, deposits, asset management, investment advisory, payment processing, securities transactions, underwriting and financial analysis.
Some of the more notable universal banks include Deutsche Bank, HSBC and ING Bank.
The First Universal bank of India is the ICICI bank.
In 2014, it was the second largest bank in India in terms of assets and third in term of market capitalization.
ICICI – Industrial Credit and Investment Corporation of India
Founded: June 1994
Headquarters: Mumbai, Maharashtra
Current Head: Mrs. Chanda Kochhar (MD & CEO)
