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What is the main objective of development banks?
  • a)
    To promote industrial growth and development
  • b)
    To provide short-term loans to businesses
  • c)
    To accept deposits from the public
  • d)
    To provide financial assistance for housing sector
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
What is the main objective of development banks?a)To promote industria...
The main objective of development banks is to promote industrial growth and development. They provide financial assistance for both public and private sector industries, support infrastructure development, and encourage employment opportunities, among other objectives.
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What is the main objective of development banks?a)To promote industria...
Development banks play a crucial role in promoting industrial growth and development by providing financial assistance to various sectors of the economy.

Development banks primarily aim to promote industrial growth and development by providing long-term financial support to businesses for their expansion and modernization projects.

Key objectives of development banks include:

- Providing financial assistance: Development banks offer long-term loans, equity investments, and financial advisory services to promote industrial growth and development.

- Promoting economic stability: By providing financial support to key sectors of the economy, development banks contribute to overall economic stability and growth.

- Supporting infrastructure development: Development banks play a key role in funding infrastructure projects that are crucial for economic development and growth.

- Encouraging innovation: Development banks support research and development activities by providing financial assistance to innovative businesses.

- Facilitating access to finance: Development banks help businesses access the financial resources they need to grow and expand their operations.

In conclusion, the main objective of development banks is to promote industrial growth and development by providing financial assistance to businesses and key sectors of the economy. Through their various activities and initiatives, development banks play a vital role in supporting economic growth and stability.
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What is the main objective of development banks?a)To promote industrial growth and developmentb)To provide short-term loans to businessesc)To accept deposits from the publicd)To provide financial assistance for housing sectorCorrect answer is option 'A'. Can you explain this answer?
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