BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

The best alternative banking service to branch banking to be the part of financial inclusion?

A	Establishment of small branches
B	Set-up ATMs
C	Issuing of ATM cards
D	Mobile banking

Explanation:

Detailed explanation-1: -Customers can use mobile banking to view their account balance, make instant fund transfer and pay bills, etc. Some banks such as SBI, ICICI Bank, HDFC Bank, etc. have incorporated services like loan approval and linking of insurance policy in their mobile banking apps apart from normal financial transactions.

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: -Often, branchless banking is viewed as setting up a distribution network for account opening, cash deposit, cash withdrawal and money transfer, however, it is much more than that. It offers a whole suite of financial products, from basic banking to investment and loans at affordable pricing to the last mile.

There is 1 question to complete.