BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Which of the following could be considered as an initiative towards promotion of financial inclusion?

A	Opening of no frills accounts
B	Appointing business correspondents for servicing rural customers
C	Opening of bank branches in unbanked districts
D	All of the above

Explanation:

Detailed explanation-1: -The Correct answer is PMJDY. PMJDY: Stands for Pradhan Mantri Jan Dhan Yojna. It is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Detailed explanation-2: -These include banking, loan, equity, and insurance products. Financial inclusion efforts typically target those who are unbanked and underbanked, and directs sustainable financial services to them.

Detailed explanation-3: -Hon’ble Prime Minister announced Pradhan Mantri Jan Dhan Yojana as the National Mission on Financial Inclusion in his Independence Day address on 15th August 2014, to ensure comprehensive financial inclusion of all the households in the country by providing universal access to banking facilities.

Detailed explanation-4: -Adoption of villages by Bank Branches.

There is 1 question to complete.