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‘Bhavishya’ Saving Account—By Fino Payments Bank Ltd

Published on July 09, 2020
Current Context: Fino Payments Bank Limited has launched ‘Bhavishya’ Saving Account.
‘Bhavishya’ Saving Account—By Fino Payments Bank Ltd
  • The ‘Bhavishya’ Saving Account is launched for the minors who are in between the age group of 10-18 years. 
  • This saving account is launched with an aim to inculcate banking and saving habits in children.
  • The account can be opened via Electronic Know Your Customer (e-KYC) mode with no requirement of maintaining a minimum monthly average balance.
  • Also on opening the account, a free platinum RuPay Debit card is given.
  • The minors are supposed to have mobile number for security purpose. When the minor becomes 18 years old, the account will get upgraded to a regular saving account after submission of Re-KYC details.
  • The maximum limit for account is Rs 50,000. Also the account can be utilised to take benefit of various government schemes for children.
  • Static Part: 
    • HQ of Fino Payments Bank Ltd : Mumbai
    • MD and CEO of Fino Payments Bank Ltd: Rishi Gupta

Question: 

Q.1 Which of the following payment bank launched ‘Bhavishya’ Saving Account for minors?
a. Airtel Payment Bank
b. Paytm Payments Bank
c. Jio Payments Bank
d. Fino Payments Bank Ltd
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