With the aim of achieving Financial Inclusion, Reserve Bank Of India has issued guidelines permitting the banks to employ.....to facilitate Business Development.

BANKING GENERAL KNOWLEDGE

Please wait while the activity loads.
If this activity does not load, try refreshing your browser. Also, this page requires javascript. Please visit using a browser with javascript enabled.

If loading fails, click here to try again

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

With the aim of achieving Financial Inclusion, Reserve Bank Of India has issued guidelines permitting the banks to employ____to facilitate Business Development.

A	Business Correspondents
B	Franchisees
C	Business Facilitators
D	Both a and c

Explanation:

Detailed explanation-1: -Financial inclusion aims to bring in digital financial solutions for the economically underprivileged people of the nation. It also intends to bring in mobile banking or financial services in order to reach the poorest people living in extremely remote areas of the country.

Detailed explanation-2: -The RBI acts as a regulator and supervisor of the overall financial system. This injects public confidence into the national financial system, protects interest rates, and provides positive banking alternatives to the public. Finally, the RBI acts as the issuer of national currency.

Detailed explanation-3: -Financial Inclusion by RBI No frills account. BSBDA – Basic savings bank deposit account. LBS – Lead banking scheme. PMJDY – Pradhan Mantri Jan Dhan Yojana.

Detailed explanation-4: -It mobilizes savings that promote economic growth through productive investment. It promotes financial literacy of the rural population and hence guides them to avoid the expensive and unreliable financial services. This helps the weaker sections to channelize their incomes into buying productive resources or assets.

There is 1 question to complete.