Many banks are presently recruiting large numbers of business correspondents in terms of RBI instructions for financial inclusion. Which of the following is not eligible to be appointed as business correspondent?

BANKING GENERAL KNOWLEDGE

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

A	Bank staff member
B	Kirana stores
C	Retired teachers
D	Ex-servicemen

Explanation:

Detailed explanation-1: -NBFCs Which Need Not be Registered With RBI Core Investment Companies – (assets are less than 100 crore or public funds not taken) Merchant Banking Companies. Companies that are engaged in the business of stock-broking. Housing Finance Companies.

Detailed explanation-2: -State Bank of Sikkim only operates in Sikkim. It was established in 1968, 5 years before Sikkim acceded to India. State Bank of Sikkim is owned by the state government.

Detailed explanation-3: -That’s why I regard Financial literacy as the fourth pillar of financial inclusion, with the other three being – technology, women inclusion, and regulation.

Detailed explanation-4: -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.

There is 1 question to complete.