BANKING AFFAIRS

Detailed explanation-1: -Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them. Financial inclusion is understood to go beyond merely opening a bank account. It is possible for banked individuals to be excluded from financial services.

Detailed explanation-2: -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-3: -Financial inclusion refers to providing greater access to financial services for poor and low-income individuals, as well as businesses with limited resources. Financial inclusion initiatives help boost the economy of poorer regions and countries.

Detailed explanation-4: -The correct answer is Providing Banking Services at an Affordable Cost. Financial inclusion means providing Banking Services at an Affordable Cost.

Detailed explanation-5: -FI helps low-income households to get access to basic financial services such as savings, credit and insurance, improving their financial self-control, thus promoting economic development. They assert that financial services not only foster economic development but also reduce poverty and income inequality.