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Passage — 6
India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet India's banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.'Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.
Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?
India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet India's banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.'Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.
Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?
- a)Efforts to bring people in India's hinterland into the banking system are not successful.
- b)For meaningful financial inclusion, India's banking system needs more number of banking correspondents and other such last-mile workers.
- c)Meaningful financial inclusion in India requires that banking correspondents have diverse skills
- d)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.
Correct answer is option 'B'. Can you explain this answer?
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Passage — 6India has banking correspondents, who help bring peop...
- Option 1 is incorrect because the passage does not evaluate the success of the program to bring people in India's hinterland into the banking system. Option 2 is not right because the passage does not mention the lack of banking corresponding.
- Option 3 is correct because the passage mentions that if the banking correspondents ensured diverse services like bank accounts, life insurance, pension scheme, etc., then there are more chances of success at banking outreach. For this, the banking correspondents will need diverse skills.
- Option 4 is incorrect because it goes to the extreme of the possibility that there will be no banking outreach if banking correspondents are not allowed to serve a number of banks.
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- Option 3 is correct because the passage mentions that if the banking correspondents ensured diverse services like bank accounts, life insurance, pension scheme, etc., then there are more chances of success at banking outreach. For this, the banking correspondents will need diverse skills.
- Option 4 is incorrect because it goes to the extreme of the possibility that there will be no banking outreach if banking correspondents are not allowed to serve a number of banks.
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Passage — 6India has banking correspondents, who help bring peop...
Need for More Banking Correspondents
Efforts at banking outreach in India's hinterland require more banking correspondents and last-mile workers to succeed. This can be inferred from the passage for the following reasons:
1. Importance of Banking Correspondents
- Banking correspondents play a crucial role in bringing people in the hinterland into the banking fold.
- They are essential for providing financial services to remote areas where traditional brick-and-mortar banks may not reach.
2. Limited Reach of Current Correspondents
- The passage mentions that banking correspondents are restricted to serving only one bank, which limits their effectiveness.
- To ensure meaningful financial inclusion, there is a need for more banking correspondents who can serve multiple banks and offer a wider range of financial products.
3. Enhancing Financial Inclusion
- Meaningful financial inclusion requires not just basic bank accounts but also access to products like insurance and pension schemes.
- Increasing the number of banking correspondents and last-mile workers can help in providing these additional financial services to underserved populations.
Therefore, the logical inference from the passage is that for meaningful financial inclusion in India, the banking system needs more banking correspondents and other last-mile workers who can reach remote areas and offer a diverse range of financial products and services.
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Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer?
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Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer?.
Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC.
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Here you can find the meaning of Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Passage — 6India has banking correspondents, who help bring people in the hinterland into the banking fold. For them to succeed, banks cannot crimp on costs. They also cannot afford to ignore investing in financial education and literacy. Banking correspondents are way too small to be viewed as a systemic risk. Yet Indias banking regulator has restricted them to serving only one bank, perhaps to prevent arbitrage.Efforts at banking outreach may succeed only if there are better incentives at work for such last-mile workers and also those providers who ensure not just basic bank accounts but also products such as accident and life insurance and micro pension schemes.Q. Which one of the following is the most logical, rational and crucial inference that can be derived from the above passage?a)Efforts to bring people in Indias hinterland into the banking system are not successful.b)For meaningful financial inclusion, Indias banking system needs more number of banking correspondents and other such last-mile workers.c)Meaningful financial inclusion in India requires that banking correspondents have diverse skillsd)Better banking outreach would be impossible unless each banking correspondent is allowed to serve a number of banks.Correct answer is option 'B'. Can you explain this answer? tests, examples and also practice UPSC tests.
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