What is the primary goal of SBI’s ‘Har Ghar Lakhpati’ scheme?
Show answer & explanation
Correct answer: C
Explanation
The correct answer is option 3 i.e. To help customers accumulate ₹1 lakh or more.
The State Bank of India (SBI) has introduced two deposit schemes: ‘Har Ghar Lakhpati’ and ‘SBI Patrons’. The ‘Har Ghar Lakhpati’ scheme is a pre-calculated recurring deposit that helps customers accumulate ₹1 lakh or more, available to minors. ‘SBI Patrons’ is a fixed deposit offering enhanced interest rates for senior citizens aged 80 and above. These schemes aim to boost financial inclusion, strengthen SBI’s market position, and provide customers with goal-oriented products to meet their financial aspirations.