BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Accepting Deposits
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Disbursing small loans
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Sell Insurance Products
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All of the above
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Detailed explanation-1: -The small finance bank shall primarily undertake basic banking activities of acceptance of deposits and lending to unserved and underserved sections including small business units, small and marginal farmers, micro and small industries and unorganised sector entities.
Detailed explanation-2: -Detailed Solution. The Correct Answer is Equitas Small Finance Bank Limited.
Detailed explanation-3: -Its objective is to provide the supply of credit to small business units; small and marginal farmers; micro and small industries; and other unorganised sector entities. It provides 75% loans to the priority sector of its credit.
Detailed explanation-4: -Small Finance Banks will be licensed under Section 22 of the Banking Regulation Act, 1949 and governed by the provisions of the Banking Regulation Act, 1949; Reserve Bank of India Act, 1934, etc. Hence, statement 1 is correct.
Detailed explanation-5: -Small Finance Banks were established with the objective of achieving financial inclusion. Small finance banks focus on providing credit to the unorganized sector, micro small and medium enterprises, small and marginal farmers, and small business units.