Multiple choice general knowledge

Which Bank has launched the "India Millennium Deposits" to mobilize resources of NRIs?

  1. State Bank of India

  2. Punjab National Bank

  3. HDFC

  4. Indian Overseas Bank

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

State Bank of India launched India Millennium Deposits (IMDs) in 2000 to mobilize NRI funds. This special deposit scheme offered attractive interest rates and aimed to bring foreign currency into India.