Define universal banking and state its objective

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01-06-2021
Business

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Define universal banking and state its objective

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ItzUNKNOWNcreatureidn ItzUNKNOWNcreatureidn · Answer 1 · 2021-06-01T08:30:49-04:00

Answer:

Universal Banking, means the financial entities – the commercial banks, Financial Institutions, NBFCs, - undertake multiple financial activities under one roof, thereby creating a financial supermarket. The entities focus on leveraging their large branch network and offer wide range of services under single brand name.

Explanation:

Objective:

The universal bank aims to invest in private entities, participate in the investment market, ensuring the financial interests of organizations maintaining a effective communication, providing various financial services , developing the private sector and reduce service costs through scale economy.

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