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What is "promote thrift habit" in banking?

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Question

What is "promote thrift habit" in banking?

Options

  • Pushing savings via RD/FD schemes.

  • Encouraging spending.

  • Keeping cash at home.

  • Ignoring small savings.

MCQ
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Solution

Pushing savings via RD/FD schemes.

Explanation: 

Banks collect small savings with 8% returns for capital formation.

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