Which of the following defines 39 Para Banking 39 services ........

Finance (RBI) Alternate sources of finance

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Which of the following defines 'Para Banking' services?

Eligible financial services rendered by banks

Services provided through business correspondents

Services provided to armed forces personnel

Utility services provided by banks

All of the above

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Explanation:

Para Banking activities that a bank normally involves are Global Debit Card, Global Credit Card, Bancassurance, Life insurance products, Non life insurance products, cash management.

The Para Banking activities are such as insurance business, portfolio management services, to become pension fund managers, mutual funds business, money market mutual funds, underwriting of bonds of PSUs, investment in venture capital funds, etc. Banks must follow the whole set of guidelines as given by RBI.