BANKING AFFAIRS

BANKING GENERAL KNOWLEDGE

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

Which of the following is introduced by banks to increase financial inclusion?

A	Stimulus package
B	Internet banking
C	Business correspondent
D	Corporate banking

Explanation:

Detailed explanation-1: -The Correct answer is the Lead Banking Scheme. This Scheme provides the prime/lead role to an individual Bank. Banks that come under the Lead Banking Scheme should be either Private or Public Banks. This Lead Bank acts as a credit Institution in its allotted district.

Detailed explanation-2: -The main aim of introducing BSBDA is to help in the efforts of improving the Financial Inclusion objectives of banks.

Detailed explanation-3: -Business Correspondents get commission from bank for every new account opening, every transaction made via them, every loan-application processed etc. The Business Correspondent carries a mobile device and helps villagers in banking transactions. (Deposit money, take money out of savings account, loans etc.).

Detailed explanation-4: -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.

There is 1 question to complete.