Which of the following initiatives of RBI are aimed at achieving financial inclusion 1 nbs...........

Economic Affairs Financial Inclusion

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Which of the following initiatives of RBI are aimed at achieving financial inclusion?

1) Relaxed and simplified KYC norms

2) Kissan Credit Cards

3) Lead Bank Scheme

4) Demat accounts

Select the correct answer using codes given below

1 and 2

3 and 4

1, 2 and 3

1, 2, 3 and 4

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Explanation:

4th is incorrect i.e. Demat accounts is not the aim at achieving financial inclusion.

Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered in a responsible and sustainable way.

There are varieties of initiatives through which financial inclusion can be achieved in India. There are some initiatives taken by the financial regulators, government, and banking officials in India. They are:

    No frills account
    BSBDA – Basic savings bank deposit account
    LBS – Lead banking scheme
    PMJDY – Pradhan Mantri Jan Dhan Yojana
    Business correspondent system