BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Internet Banking
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Anywhere Banking
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No-frills Accounts
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Foreign Currency Accounts
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Detailed explanation-1: -The correct answer is Providing Banking Services at an Affordable Cost. Financial inclusion means providing Banking Services at an Affordable Cost.
Detailed explanation-2: -Microfinance is a very effective way of offering funds to the economically underprivileged sections of the society.
Detailed explanation-3: -What is no frill account in banking? These are savings accounts that don’t need any minimum balance month after month. The account holder gets access to internet banking, debit card and access to ATMs across the country with 0 balance. As the name suggests, these accounts don’t have any unnecessary rules or ‘frills’.
Detailed explanation-4: -Financial inclusion is a method of offering banking and financial services to individuals. It aims to include everybody in society by giving them basic financial services regardless of their income or savings. It focuses on providing financial solutions to the economically underprivileged.