Match the items of List – I with those of List – II List – I List – II a. Locally operated financial…
A Community Bank is a locally operated financial institution that empowers local decision-making to serve local customers and businesses (iii); a Community Development Bank…
Choose your answer
Match the items of List – I with those of List – II
List – I
List – II
a. Locally operated financial institutions that empower employees to make local decisions to serve their customers and partners. i. Community Development Bank
b. Regulated banks that provide financial services and credit to under-served markets or population.
ii. Offshore Bank
c. Banks that prioritise the transparency of all operations
iii. Community Bank
d. Bank located in jurisdictions with low taxation and regulations
iv. Ethical Bank
Answer and explanation
Correct answer C
A Community Bank is a locally operated financial institution that empowers local decision-making to serve local customers and businesses (iii); a Community Development Bank is a regulated bank dedicated to providing financial services and credit to underserved markets or populations (i); an Ethical Bank prioritises social/environmental responsibility and complete transparency of operations (iv); and an Offshore Bank is located in a jurisdiction with low taxation and light regulation outside the depositor's country of residence (ii).
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UGC NET Commerce