Multiple Choice Questions on Which bank has launched the lsquo Insta FlexiCash rsquo facility for salary account holder........... for General Studies Current affairs Archives (UPSC) Preparation

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    Which bank has launched the  ‘Insta FlexiCash’ facility for salary account holders  ?

    SBI

    Incorrect Answer

    ICICI Bank

    Correct Answer

    HDFC Bank

    Incorrect Answer

    Axis Bank

    Incorrect Answer
    Explanation:
    • ICICI Bank has launched a fully digital overdraft facility for its Salary Account customers to get approval for overdraft (OD) instantaneously and in a paperless manner.
    • The facility called, ‘Insta Flexicash’, will provide end-to-end fully digital experience to the customers using the Bank’s internet banking platform.
    • The customers can apply for the OD from their home, without visiting a bank branch.
    • The Bank will offer a credit limit worth up to three times of a customer’s net salary.
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