Question:
How does financial inclusion contribute to poverty alleviation?
ABy restricting access to formal credit
BBy providing the poor with access to banking, credit, and insurance services
CBy focusing only on large corporations
DBy limiting the role of small farmers in the economy
Answer:
B. By providing the poor with access to banking, credit, and insurance services
Explanation:
Financial inclusion helps in poverty alleviation by giving the poor access to banking, credit, and insurance services, which enable them to save, invest, and protect themselves from financial shocks. This allows them to improve their economic prospects and escape the poverty cycle.