What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas? 1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages. 2. It enab

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Q: 32 (IAS/2014)
What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.
Select the correct answer using the code given below.

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,120,37,14,19,120,4

keywords: 

{'bank saathi': [0, 0, 0, 1], 'facilities': [0, 0, 0, 2], 'branchless areas': [0, 0, 0, 1], 'facility': [0, 1, 0, 1], 'beneficiaries': [0, 0, 1, 5], 'rural areas': [1, 0, 0, 0], 'villages': [2, 0, 3, 14], 'services': [0, 0, 7, 17], 'deposits': [2, 1, 3, 9], 'business correspondent': [0, 0, 0, 1], 'subsidies': [1, 0, 0, 1], 'social security benefits': [0, 0, 0, 1], 'withdrawals': [0, 0, 0, 1]}

The Business Correspondent (Bank Saathi) is a banking agent engaged by a bank or a financial institution to provide banking services to the people residing in the remote or branchless areas where setting up a bank branch may not be feasible or viable. The beneficiaries in such areas can avail of several facilities through the services of Business Correspondent. These facilities include making deposits, withdrawals, and money transfers, getting access to credit facilities, and drawing subsidies and social security benefits in their villages. Therefore, both statements 1 and 2 are correct.