BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to maintain a certain quantity of liquid assets with themselves at any point of time of their total time and
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to control money supply in the economy
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to provide basic banking services to all section of society in urban areas or rural areas at affordable cost
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Both A and B
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Detailed explanation-1: -Financial inclusion aims to bring in digital financial solutions for the economically underprivileged people of the nation. It also intends to bring in mobile banking or financial services in order to reach the poorest people living in extremely remote areas of the country.
Detailed explanation-2: -It aims to establish proper financial institutions to cater to the needs of poor people.
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: -Having access to financial services is important to both individuals and companies, as it provides a means of storing money, managing payments and cash flows, accumulating savings, accessing credit, and making investments. Such access is also key to acquiring assets and building financial security.