How does deposit insurance contribute to financial inclusion? Option: By providing loans to individuals with low credit scores, By encouraging people to save and invest in the stock market, By instilling confidence in the banking system, making it accessible to a wider range of people, By offering financial literacy programs to the public

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How does deposit insurance contribute to financial inclusion?

By providing loans to individuals with low credit scores

By encouraging people to save and invest in the stock market

By instilling confidence in the banking system, making it accessible to a wider range of people

By offering financial literacy programs to the public

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What is the primary function of deposit insurance in the context of fixed deposits?

To provide tax benefits for fixed deposit investments

To offer investment advice for fixed deposit holders

To protect against losses in case of bank failures

To guarantee higher interest rates on fixed deposits

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Which of the following types of bank accounts are typically covered under deposit insurance?

Only current accounts

Only savings accounts

Only fixed deposits

Fixed deposits, savings accounts, current accounts, and recurring deposits

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Why is investing in insurance considered important?

It provides a safety net against unexpected medical expenses

It offers potential tax benefits

All of the above

It helps mitigate financial risks associated with illness or disability

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What is the main risk associated with savings accounts?

"The value of deposited funds declining"

"Changes in government regulations"

"The bank facing financial difficulties"

"Fluctuations in market interest rates"

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How can investing contribute to financial well-being?

It primarily benefits short-term financial needs

It can help grow wealth and build an emergency fund

It guarantees high returns without risk

It replaces the need for saving money