Question

Pigmy Deposit was introduced by ----.

• A. Canara Bank
• B. Syndicate Bank
• C. State Bank of India
• D. Punjab National Bank

Answer 1

Answer:

B. Syndicate Bank

Pigmy Deposits:

• It is a daily deposit scheme introduced to help daily wages earners, small traders, to promote saving habit and by way of funding their capital requirements 

• As per this schemes money can be deposited on  daily basis

• Pigmy Deposit is introduced by Syndicate Bank