UPSC General Studies Sample Paper General Studies Sample Paper-10

  • question_answer
    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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