In 2014, Bandhan Financial Services, microlender with Headquarters at ______, was granted in-principal approval by RBI to start a universal bank.
Show answer & explanation
Correct answer: A
Explanation
The correct answe is option 1 i.e. Kolkata.
In 2014, Bandhan Financial Services, a microlender headquartered in Kolkata, India, received in-principle approval from the Reserve Bank of India (RBI) to start a universal bank. This approval marked a significant milestone for the organization, allowing it to transition from a microfinance institution to a full-fledged bank, known as Bandhan Bank. The move aimed to enhance financial inclusion by providing a broader range of banking services to underserved populations, including savings, credit, and other financial products.