BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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To provide banking services to all those living in remote areas
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To provide a 100 days job to all those who are in need of a job
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To provide a permanent employment to the unemployed
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To ensure that all financial transactions amounting Rs. 5, 000/-and above are done through banks
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Detailed explanation-1: -Financial Inclusion is described as the method of offering banking and financial solutions and services to every individual in the society without any form of discrimination. It primarily aims to include everybody in the society by giving them basic financial services without looking at a person’s income or savings.
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: -Access to formal finance can boost job creation, reduce vulnerability to economic shocks and increase investments in human capital. At a macro-level, greater financial inclusion can support sustainable and inclusive socio-economic growth for all.
Detailed explanation-4: -by developing a culture of savings among large segment of rural population. Further, financial inclusion protects their financial wealth and other resources in exigent circumstances by bringing low income groups within the perimeter of formal banking sector.
Detailed explanation-5: -The concept of financial inclusion in rural areas is becoming a reality as financial institutions are tapping this area with banking services and financial products for everyone without any discrimination.