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What is the primary goal of cooperative banks in terms of financial services?
  • a)
    Maximizing profits for shareholders.
  • b)
    Fostering financial inclusion and benefiting the community.
  • c)
    Offering specialized banking services to large corporations.
  • d)
    Providing loans exclusively to urban areas.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
What is the primary goal of cooperative banks in terms of financial se...
The primary goal of cooperative banks is to foster financial inclusion and benefit the community. Unlike commercial banks that focus on profit generation, cooperative banks aim to provide accessible financial services to all sections of society, especially those in rural and underserved areas.
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What is the primary goal of cooperative banks in terms of financial services?a)Maximizing profits for shareholders.b)Fostering financial inclusion and benefiting the community.c)Offering specialized banking services to large corporations.d)Providing loans exclusively to urban areas.Correct answer is option 'B'. Can you explain this answer?
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