Bandhan Bank - Current Affairs Questions and Answers

ANSWER: Bandhan Bank

Explanation:
Bandhan is the first micro-finance company to transform into a bank. Reserve Bank of India has turned liberal in doling out banking licenses to entities of different capabilities. It has just issued 11 in-principle licenses to set up payments banks. Bandhan Bank will primarily cater to the unorganized sector like daily wage earners and women running small businesses -- the segments that had been its borrowers for a decade. As a bank, it will also offer savings, remittance and insurance services and try to raise its stake in the bottom of the pyramid customers.

ANSWER: Avenues India Pvt Ltd

Explanation:
Bandhan Bank Ltd has signed an agreement with Avenues India Pvt Ltd, a payment solutions provider to offer merchants seamless access to Point of Sale and payment gateway products.

With this partnership, merchants have speedier and direct access to PoS machines, competitive financing options and payment gateways.

Additionally, the agreement facilitates that two parties will cooperate and benefit from the networks, customers, techniques, systems and expertise for enhancing consumer experience.

As a fastest growing bank, ways are being explored and means for smart transactions studied.

Online business banking is the backbone of the economy at present. The entire merchant base will get the support of the combining of e-payment gateways.

Bandhan Bank: Know More

• Bandhan Bank presently has 3,546 touch points pan-India.
• It is comprising 828 branches, 2,437 Doorstep Service Centres (DSCs) and 281 ATMs.
• The bank has mobilised deposits worth more than INR 22, 000 crore and its loan book stands at about INR 22,000 crore.
• It has two divisions - general banking and micro banking.