Question

Which bank was recognised as the 'Best Bank' in India for 2024 by Global Finance Magazine of United States of America at its 31st Annual Best Bank Awards event?

• A. HDFC Bank
• B. ICICI Bank
• C. State Bank of India
• D. Axis Bank

Hint:

When studying for banking-related exams, keep track of major banking awards and recognitions, as these often highlight the top players in the financial industry.

Answer 1

The Correct Option is C

The 31st Annual Best Bank Awards, conducted by Global Finance Magazine, recognised the best financial institutions globally.

In the category of 'Best Bank' in India for 2024, the State Bank of India (SBI) emerged as the winner.

This recognition was based on SBI’s remarkable performance in terms of its operations, customer service, financial strength, and contributions to India's banking sector.

Key factors include SBI's large customer base, innovative banking services, and extensive digital banking initiatives, which have been instrumental in its recognition as the top bank in India for 2024.

SBI’s commitment to sustainable banking practices and its significant role in fostering financial inclusion across India also played a crucial role in this achievement.