Economics • Banking & FinanceEasy
What is the primary role of the Uttarakhand Gramin Bank operating within the state financial architecture?
A. Regulating international currency exchange rates
B. Providing banking and credit services specifically tailored to rural and semi-urban areas of the state✓ Correct Answer
C. Issuing sovereign paper currency notes on behalf of the state government
D. Trading equity shares exclusively on international stock exchanges
💡 Solution & Explanation
Uttarakhand Gramin Bank is a Regional Rural Bank established to cater to the banking and credit needs of rural communities, farmers, artisans, and small entrepreneurs across the districts of Uttarakhand. It operates under the joint ownership of the Central Government, State Government, and its sponsor bank. Financial inclusion in remote hill hamlets is heavily driven by its branch network.
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