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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?.

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. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

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.