Current Affairs - Banking - Discussion

South Indian Bank launched the ‘SIB Quick FD’ service, allowing customers to open Fixed Deposits digitally through UPI, without needing an existing account with the bank. The process is paperless, takes only 5 minutes, and requires minimal documentation. This service is designed to make Fixed Deposit investments accessible to a wider customer base and is available 24/7, making it convenient for users to invest at any time. Additionally, the FD investments are insured up to ₹5 lakhs under DICGC, ensuring security for customers.