Federal Bank ties up with Magicbricks

Private sector lender Federal Bank has tied up with online real estate platform Magicbricks for listing and e-auctioning of immovable properties repossessed by it in recovery proceedings. The move is aimed at speedy recovery of the bank’s impaired assets while helping customers get the best rate in the market for their properties.

Important takeaways for all competitive exams:

  • Federal Bank Establishment: 1939 (as Travancore Federal Bank); December 1949 (Federal Bank).
  • Federal Bank Headquarter: Kochi, Kerala.
  • Federal Bank Managing Director & Chief Executive Officer: Shyam Srinivasan.
  • Federal Bank Tagline: Your Perfect Banking Partner.

Source: The Business Standard

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