Q. The primary purpose of the BAANKNET portal is to:

[A] Provide banking services to customers

[B] Facilitate property auctions for banks and lending institutions

[C] Manage loan applications for distressed assets

[D] Offer online stock trading

Answer: B
Notes:

Explanation – The BAANKNET portal is a revamped e-auction platform launched by the Department of Financial Services (DFS), Ministry of Finance. Its primary purpose is to facilitate property auctions for public sector banks (PSBs) and other lending institutions.

Source: Forum IAS

Blog
Academy
Community