2023
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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BOB
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Axis Bank
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SBI
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ICICI
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Detailed explanation-1: -The correct answer is Axis Bank. Spice Money Limited, a Rural fintech player, has partnered with Axis Bank, to facilitate the opening of instant, zero-balance savings or current accounts for rural citizens through its Adhikari network.
Detailed explanation-2: -Financial inclusion is the process of providing access to financial products and services for the disadvantaged sections of society. Low income groups or disadvantaged sections of society do not have access to basic financial services of banks and financial institutions.
Detailed explanation-3: -To cater to this issue, financial inclusion ensures the delivery of financial services such as bank accounts, low-cost credits, financial advisories and insurance services. Financial inclusion develops a culture of savings in the segments of the rural areas, which has its role to cultivate economic development.