Vested Finance partnered with SBM Bank

Published on October 17, 2021
Current Context: Vested Finance has entered into a partnership with SBM Bank.
Vested Finance partnered with SBM Bank
  • Vested Finance is the entity that enables Indians to invest in foreign stocks and SBM Bank is the Indian subsidiary of the State Bank of Mauritius.
  • They have partnered to launch ‘Vested Direct’ which is a solution to provide forex transfers at affordable prices.
  • Using ‘Vested Direct’ the investors will be able to open free of cost, no minimum balance saving account with SBM Bank funds.
  • After opening an account, the investors can send their funds in Indian rupees to their SBM account, and then they will place a request to move money to their US brokerage account.
  • Then the money will be converted to dollars and will be transferred to Vested accounts. The entire process will take place at affordable prices.
  • Static Part: 
    • HQ of Vested Finance: California, US

Question: 

Q.1 With which bank has Vested Finance partnered to launch ‘Vested Direct’ which is a solution to provide forex transfers at affordable prices?
a. ICICI Bank
b. HDFC Bank
c. SBM Bank
d. Federal Bank

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