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Multiple Choice Questions

What is the purpose of setting up of Small Finance Banks SFBs in India 1 To supply credit to small b...........

Finance (RBI) Financial Institutions

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What is the purpose of setting up of Small Finance Banks (SFBs) in India?

1. To supply credit to small business units

2. To supply credit to small and marginal farmers

3. To encourage young entrepreneurs to set up business particularly in rural areas.

Select the correct answer using the code given below:

1 and 2 only

2 and 3 only

1 and 3 only

1, 2 and 3

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Explanation:

The need for setting up small finance banks in the country is for providing financial assistance to people who are unable to avail the facilities in the unorganized sector.

The small finance banks are very effective for promoting business of industries which are part of the unorganized sector and operate through low cost operations and traditional technologies.

The different forms of small fiance banks operating in the country are the Suryoday Small Finance Bank Ltd, Ujjivan Small Finance Bank Ltd, Utkarsh Small Finance Bank Ltd and many others.

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