BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Social banking
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Financial inclusion
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Mass banking
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None of the above
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Detailed explanation-1: -Social media is the latest buzzword in the banking sector.
Detailed explanation-2: -Financial inclusion strives to remove the barriers that exclude people from participating in the financial sector and using these services to improve their lives. It is also called inclusive finance.
Detailed explanation-3: -The main aim of introducing BSBDA is to help in the efforts of improving the Financial Inclusion objectives of banks.
Detailed explanation-4: -The Reserve Bank of India has released the Financial Inclusion Index for 2022, underlining how well financial products and services can be accessed by the general population. The index shows an improvement to 56.4 from 53.9 in 2021 across indices like access, usage and equality.
Detailed explanation-5: -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.