| Which of the following come under the measures taken by the government to promote financial inclusion? |
| 1. Banking correspondent model |
| 2. Lead bank scheme |
| 3. Community based organisations |
| 4. Post offices |
| 5. No-frills account |
| Select the correct answer using the codes given below. |
A) 1, 3, 4 and 5
B) 1, 2, 4 and 5
C) 1, 2 and 5
D) All of these
Correct Answer: C
Solution :
[c] Financial inclusion involves activities like providing formal banking services to poor people in urban and rural areas. Providing credit, facilities to park their savings etc. Statements 1, 2 and 5 are basic initiatives towards financial inclusion lead bank scheme is one, in which banks are responsible to develop a particular district's banking facility. Banking correspondent model is like mobile banking, where correspondents will go personally to villages and do the transactions. Community based organisations, post-offices are intermediates, who can act as an agent in sometimes, but can't provide all the facilities like credit, savings mechanism etc.
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