Consider the following statements regarding Ujjivan Small Finance Bank's (USFB) application for a universal banking license: 1. It aims to broaden USFB's financial service offerings, including venturing into corporate banking. 2. A universal banking license would likely increase USFB's regulatory burden. 3. This transition reflects a broader trend among small finance banks seeking greater operational scope. Mark the correct statement from the above using the codes given below:
Both 1 and 3
Why in the News?
"Ujjivan Bank Wants to Grow Up: Asks for Big Bank License”
Statement 1: correct
Ujjivan aims to expand its services, including corporate banking, by obtaining a universal banking license, enabling it to cater to a wider range of clients and financial needs.
Statement 2: incorrect
Transitioning to a universal bank may bring about changes in regulatory requirements, but it is not necessarily an increase in the overall regulatory burden.
Statement 3: correct
Ujjivan's move reflects a trend among small finance banks seeking greater operational flexibility and the ability to compete with larger banks in the financial sector.
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3. The card offers no rewards or benefits.
Mark the correct statement from the above using the codes given below:
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Mark the correct statement from the above using the codes given below:
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Mark the correct statement from the above using the codes given below:
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