Consider the following statements regarding E Shakti project 1 It aims at digitization of all t...........

Economic Affairs Financial Inclusion

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Consider the following statements regarding E-Shakti project :

1. It aims at digitization of all the SHG accounts to bring its members under the fold of Financial Inclusion.

2. The project was launched by Ministry of Micro, Small and Medium Enterprises.

Which of the above information is/are correct?

1 only

2 only

Both 1 and 2

Neither 1 nor 2

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Explanation:

E-Shakti or Digitisation of SHGs is an initiative of Micro Credit and Innovations Department of NABARD which aims at digitization of all the SHG accounts to bring SHG members under the fold of Financial Inclusion thereby helping them access wider range of financial services together with increasing the bankers' comfort in credit appraisal and linkage by way of:
• Integrating SHG members with the national Financial Inclusion agenda;
• Improving the quality of interface between SHG members and Banks for efficient and hassle free delivery of banking services by using the available technology;
• Facilitate convergence of delivery system with SHGs using Aadhaar linked identity.