Question

What do you mean by local banker? State its three characteristics.

Answer 1

Answer:

Local Area Banks. From Arthapedia. The Local Area Banks (LABs) are small private banks, conceived as low cost structures which would provide efficient and competitive financial intermediation services in a limited area of operation, i.e., primarily in rural and semi-urban areas, comprising three contiguous districts.

Retail bankers act in a customer service role, advising on and assisting with services such as setting up savings accounts, authorising loans and moving money. Typical responsibilities of the job include: ... authorising and evaluating overdrafts and loans. developing a network of local business contacts