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Question

What is the name of the public sector bank that has become the first in India to offer credit cards to its fixed deposit customers?
  • Canara Bank
  • Punjab National Bank
  • Indian Bank
  • SBI
Answer- B
1) Punjab National Bank (PNB) has made history by becoming the first public sector bank in India to introduce credit cards specifically for its fixed deposit clients.

2)In a bid to attract deposits, PNB has increased the interest rate of fixed deposits across various tenures by 50 basis points. Interest rates on term deposits below ₹2 crore between one year and three years have been raised by 50 basis points to 6.75 per cent from earlier rate of 6.25 per cent. The bank said that new rates of FDs are effective from January 1, 2023.