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JAMB Economics 1993 Question 33

Question 33

Financial Institutions

Which of the following programmes in the monetary sector is aimed at enhancing the banking habit of the rural areas?

  1. A.The deregulation of the banking system
  2. B.The increase in the number of merchant banks
  3. C.The community banking scheme
  4. D.The deregulation of interest rate
Show the answer and explanation

Answer: C (The community banking scheme)

Explanation

Community banks were set up in rural communities to bring banking services to people there.