What is the meaning of social banking?
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The mainstream banking practices in India has marginalised a large section of the poor population of the country. Thus, broadly stating, banking system in which banks subsidize the provision of banking services to poor and the orientation is towards serving the masses is known as social banking.
Why is Social Banking important?
Social banking can contribute to poverty alleviation by developing low cost products customized to the needs of the poor and providing them access to affordable credit for entrepreneurial and emergency purposes.
Is banking a social service?
Social services consists of facilities and services such as: public education, food banks, universal health care, police, fire services, public transportation and public housing.
What is meant by branch banking?
Branch banking is the operation of storefront locations away from the institution’s home office for the convenience of customers. One of the most significant changes is that, since 1999, banks have been permitted to sell investments and insurance products–as well as banking services–under the same roof.
Where are offshore banks?
Some places have become well-known areas of offshore banking including Switzerland, Bermuda, or the Cayman Islands. But other countries where offshore banking takes place aren’t that common such as Mauritius, Dublin, and Belize. Most people associate offshore banking with being rich or something only the elite can do.
n. 1 public provision for the economic, and sometimes social, welfare of the aged, unemployed, etc., esp. through pensions and other monetary assistance. 2 often caps a government programme designed to provide such assistance. social services.
What is social service provision?
Service provision is a term used to describe a wide range of activities, including the provision of assistive devices, rehabilitation services, therapy and health services.