Question 10 of 12
Q.The Local Area Banks are promoting :
(a) Industrial development
(b) Rural Savings
(c) Agricultural development
(d) Business Savings
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2024MCQ· 1mImportance★★★★★
83% · 10/12 Questions
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Start your 14-day free trial to unlock the full solution →Local Area Banks are promoting rural savings, option (b).
Local Area Banks (LABs) are small private-sector banks established to operate in a limited local area covering a few districts. Their main purpose is to mobilise savings from the rural and semi-urban population and make those funds available for productive activities within the same local area, thereby bridging the gap in institutional credit at the …
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