SBM Bank India partnered with PayNearby

Current Context: The SBM Bank India, which is the wholly-owned subsidiary of State Bank of Mauritius has entered into a partnership with Fintech PayNearby.

• They have partnered to launch a neo banking platform.
• They signed MoU for same and are set to build an open banking network which will offer basic banking solutions and other advance services to the customers. 
• Through the PayNearby’s network, the SBM India will offer a complete suite of digital and assisted banking solutions.
• Both the entities also partnered to launch Nivesh which is a unique Goal Based Recurring Deposit Platform.
• Static Part: Neo Bank: It is that type of bank, which is operated exclusively online i.e. the customer does not have to visit a bank or its branches for banking solutions. It is also known as an online bank, internet-only bank, virtual bank or digital bank. 
• HQ of SBM India: Mumbai
• MD and CEO of SMB India: Sidharth Rath
• PayNearby belongs to Nearby Technologies, HQ of Nearby Technologies: Mumbai

Question: 

Q.1 Who among the following partnered with Fintech PayNearby for neo banking platform?
a. Karur Vyasa Bank
b. Federal Bank
c. Punjab National Bank 

d. SBM India