Recently Government has launched lsquo Indradhanush rsquo Scheme Its aim is to ........

Economic Affairs Types of Banks and Banking

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Recently Government has launched ‘Indradhanush’ Scheme. Its aim is to:

Revamp functioning of public sector banks.

Protect, restore and enhance diminishing forest cover.

Improve connectivity in the North East Region.

Improve farm production by evergreen revolution in Agriculture sector.

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Explanation:

Under Indradhanush roadmap announced in 2015, the govt had announced to infuse Rs 70,000 crore in state-run banks over four years. ... The RBI had embarked on the AQR exercise from December 2015 and asked banks to recognise some top defaulting accounts as non-performing assets (NPAs) and make adequate provisions for them.