Economics • Banking & FinanceEasy
What is the primary objective of establishing Financial Literacy Centres by commercial banks across rural blocks in Punjab?
A. To educate rural households on digital banking security, formal credit access, and debt management✓ Correct Answer
B. To market high-risk speculative cryptocurrency derivatives to subsistence farmers
C. To collect state agricultural land revenue on behalf of the district administration
D. To provide legal defense counsel in criminal property disputes
💡 Solution & Explanation
Financial Literacy Centres impart education on banking products, digital transactions, budgeting, and debt avoidance to protect rural populations from informal moneylenders. Promoting speculative cryptocurrencies violates central bank consumer protection advisories. Collecting land revenue is an executive function of state revenue officials, not banks. Providing legal defense counsel falls outside the scope of financial literacy mandates.
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