Almost all Banks in India are running special schemes for providing banking services to rural poor. This concept is popularly known as.....

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Almost all Banks in India are running special schemes for providing banking services to rural poor. This concept is popularly known as____

A	Faster Growth
B	Trade Finance
C	SME Finance
D	Financial Inclusion

Explanation:

Detailed explanation-1: -Financial inclusion means that individuals and businesses have access to useful and affordable financial products and services that meet their needs – transactions, payments, savings, credit and insurance – delivered in a responsible and sustainable way.

Detailed explanation-2: -Inclusive banking is an attempt aimed at taking the banking services to customers who hitherto did not benefit from banking system as a whole and were dependent on non-banking and non-formal financing options.

Detailed explanation-3: -Detailed Solution. The Correct answer is PMJDY. PMJDY: Stands for Pradhan Mantri Jan Dhan Yojna. It is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

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