BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Financial literacy programme of RBI is meant to promote which of the following?

A	For better understanding of banking produts and services
B	It is meant to stop money laundering
C	For enabling compliance with KYC norms
D	All of the above

Explanation:

Detailed explanation-1: -The aim of this initiative is to create awareness about financial products and services, good financial practices, going digital and consumer protection. The Financial Literacy Week is an initiative by RBI to promote awareness on key topics every year through a focused campaign.

Detailed explanation-2: -The RBI has developed tailored financial literacy content for five target groups’ viz. Farmers, Small entrepreneurs, School children, Self Help Groups and Senior Citizens that can be used by the trainers in financial literacy programmes.

Detailed explanation-3: -Financial Inclusion by RBI There are some initiatives taken by the financial regulators, government, and banking officials in India. They are: No frills account. BSBDA – Basic savings bank deposit account.

Detailed explanation-4: -RBI being the money market and the banking regulator has launched basic financial education as well as sector focused financial education.

Detailed explanation-5: -The Pradhan Mantri Jan Dhan Yojana (PMJDY) and National Strategy for Financial Inclusion (NSFI) 2019-2024 has given a further fillip to these efforts.

There is 1 question to complete.