Question

The banking system oriented towards mass welfare and financial inclusion of the poor is known as ?

• A. Investment Banking
• B. Private Banking
• C. Corporate Banking
• D. Social Banking

Answer 1

Answer:

D. Social Banking

Social banking:

• Banking oriented towards mass welfare and financial inclusion of poor.
• Social Banking which caters especially to the development needs of poor.
• Social banking means banking policy to meet the socio-economic obligations of the country.
• Financing of poverty reduction and employment programme of government by banks is called social banking.
• Provide banking for the poor population, working for their developmental needs, providing them with easy formal credit, minimal requirements to open accounts, ease of access and friendly Staff etc.