Question

The purpose of setting up of small finance banks (sfbs) in india

Answer 1

Explanation:

Small finance banks are a type of niche banks in India. The aim behind these to provide financial inclusion to sections of the economy not being served by other banks, such as small business units, small and marginal farmers, micro and small industries and unorganised sector entities.

• To supply credit to small business units
• To supply credit to small and marginal farmers
•  To encourage young entrepreneurs to set up business particularly in rural areas.

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Answer 2

The purpose of setting up of small finance banks in India is to provide credit facilities to the farmers in the rural areas and to provide credit facilities for business startups and other small industries

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.

To know more about  small finance banks

Which bank was earlier known as Janalakshmi Financial Services?

North East Small Finance Bank

Jana Small Finance Bank

Suryoday Small Finance Bank

Ujjivan Small Finance Bank

Utkarsh Small Finance Bank

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