Question

Which of the following options has the correct match?

• A. Land development bank: Main purpose is industrial development
• B. Cooperative bank: Helps other banks and government
• C. Indigenous bank: Moneylenders
• D. Commercial banks: Mother of all banks

Answer 1

The correct option is C Indigenous bank: Moneylenders

Land development banks: Such banks provide long-term loans to farmers upon the mortgage of their land at low interest rates.

Cooperative banks: They work on the principle of cooperation, self-help, and mutual help.

Indigenous banks: They are individuals who lend money to the people, especially to farmers, and charge high rates of interest.

Commercial banks: They are profit-making institutions.