Name the micro finance company that becomes the first to start operation as a commercial bank?

a. PayTm Bank

b. Vodafone m-Pesa Bank

c. Yes Bank

d. Bandhan Bank

ANSWER: Bandhan Bank

Explanation:

Bandhan is the first micro-finance company to transform into a bank. Reserve Bank of India has turned liberal in doling out banking licenses to entities of different capabilities. It has just issued 11 in-principle licenses to set up payments banks. Bandhan Bank will primarily cater to the unorganized sector like daily wage earners and women running small businesses -- the segments that had been its borrowers for a decade. As a bank, it will also offer savings, remittance and insurance services and try to raise its stake in the bottom of the pyramid customers.