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Which of the following statement is correct regarding Sustainable Alternative Towards Affordable Transportation (SATAT) initiative. 
  • a)
    Sub component under FAME India Phase II for promotion of Electric Mobility in the country
  • b)
    Dedicated lanes for buses in urban areas for improving the reliability of public transport services
  • c)
    Setting up of Compressed Bio-Gas production plants and make it available for use in automotive fuels
  • d)
    None of the above
Correct answer is option 'C'. Can you explain this answer?
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Which of the following statement is correct regarding Sustainable Alte...
Sustainable Alternative Towards Affordable Transportation (SATAT) is an initiative aimed at setting up of Compressed Bio-Gas production plants and make it available in the market for use in automotive fuels by inviting Expression of Interest from potential entrepreneurs.
The initiative was launched in October 2018 by the Ministry of Petroleum & Natural Gas in association with Public Sector Undertaking (PSU) Oil Marketing Companies (OMC)
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Read the information given below carefully and answer the following question.Financial inclusion plays a crucial role in inclusive development and sustainable prosperity as is being increasingly recognised and acknowledged globally. Large segment of population need to be part of formal payment system and financial markets. Financial inclusion would also broaden and deepen financial savings and lead to higher economic development.Previous initiatives: While financial sector policies in India have long been driven by the objective of increasing penetration and outreach, the goal of inclusion has eluded us. About 41 per cent of adult population remain unbanked and the number of loan account covers only 14 percent of adult population. The previous initiatives included (i) the expansion of network of cooperative banks to provide credit to agriculture and saving facilities in rural areas, (ii) nationalism of bank in 1969 and expansion of branches and (iii) creation ofan elaborate framework of priority sector lending with mandated targets as part of a strategy to meet the savings and credit needs of large section of the Indian population who had no access to institutional finance. Given the sheer enormity of the challenge, however the outcomes of these efforts have so far been mixed.Recent initiatives/out of the box approaches: Recent initiative include (i) “no frill” account for retail purpose; (ii) simplified KYC (Know Your Customer) (iii) Credit counselling centre facilities; (iv) use of NGOs and formation of SHGs; (v) Kisan credit cards service and (vi) extension of smart cards. The finance Minister in his Budget Speech of 2007-08 also laid down provision for funding of financial inclusion goals. The Rangarajan Committee also spelt out priorities for meeting financial inclusion objectives. Two of the more important approaches in the recent times included the use of technology such as smart cards and mobile telephone banking. The potential for their spread can be vast especially in combination with banking correspondence approach launched recently.New entry and competition: In addition, new competition and entry also play crucial roles, as is evident from the global experience. Two particular initiatives have included the role of Micro Financial Institutions (MFIs) and Non-Bank Finance Companies (NBFCs). MFI activities have surged in recent years, but has come under scrutiny and regulation. Services expanded at a fast rate, providing access on better terms than the alternatives of traditionalmoney lenders. However, better regulation is also needed. On NBFCs, gold pawn establishment have also provided alternate access and are fast expanding in urban and semi-urban settings. As far as caps on interest rates are concerned, as in case of other products, ‘subsidies’ in the form of low interest are often an inhibitor of access to services because of rationing and misuse.Financial Literacy: Any policy initiative seeking to afford greater access to financial services to financial services to a large segment of the population must necessarily address bridging the existing knowledge gap in financial education and literacy. Over the last decade or so, researcher all over the world, especially in the developed countries, have, therefore, started to study and explore whether individuals are wellequipped to make financial decisions. Financial education and literacy assumes urgency in any given scenario.Q.Which of the following would be closest to the meaning of term financial inclusion?

Financial inclusion plays a crucial role in inclusive development and sustainable prosperity as is being increasingly recognised and acknowledged globally. Large segment of population need to be part of formal payment system and financial markets. Financial inclusion would also broaden and deepen financial savings and lead to higher economic development.Previous initiatives: While financial sector policies in India have long been driven by the objective of increasing penetration and outreach, the goal of inclusion has eluded us. About 41 per cent of adult population remain unbanked and the number of loan account covers only 14 percent of adult population. The previous initiatives included (i) the expansion of network of cooperative banks to provide credit to agriculture and saving facilities in rural areas, (ii) nationalism of bank in 1969 and expansion of branches and (iii) creation ofan elaborate framework of priority sector lending with mandated targets as part of a strategy to meet the savings and credit needs of large section of the Indian population who had no access to institutional finance. Given the sheer enormity of the challenge, however the outcomes of these efforts have so far been mixed.Recent initiatives/out of the box approaches: Recent initiative include (i) “no frill” account for retail purpose; (ii) simplified KYC (Know Your Customer) (iii) Credit counselling centre facilities; (iv) use of NGOs and formation of SHGs; (v) Kisan credit cards service and (vi) extension of smart cards. The finance Minister in his Budget Speech of 2007-08 also laid down provision for funding of financial inclusion goals. The Rangarajan Committee also spelt out priorities for meeting financial inclusion objectives. Two of the more important approaches in the recent times included the use of technology such as smart cards and mobile telephone banking. The potential for their spread can be vast especially in combination with banking correspondence approach launched recently.New entry and competition: In addition, new competition and entry also play crucial roles, as is evident from the global experience. Two particular initiatives have included the role of Micro Financial Institutions (MFIs) and Non-Bank Finance Companies (NBFCs). MFI activities have surged in recent years, but has come under scrutiny and regulation. Services expanded at a fast rate, providing access on better terms than the alternatives of traditionalmoney lenders. However, better regulation is also needed. On NBFCs, gold pawn establishment have also provided alternate access and are fast expanding in urban and semi-urban settings. As far as caps on interest rates are concerned, as in case of other products, ‘subsidies’ in the form of low interest are often an inhibitor of access to services because of rationing and misuse.Financial Literacy: Any policy initiative seeking to afford greater access to financial services to financial services to a large segment of the population must necessarily address bridging the existing knowledge gap in financial education and literacy. Over the last decade or so, researcher all over the world, especially in the developed countries, have, therefore, started to study and explore whether individuals are wellequipped to make financial decisions. Financial education and literacy assumes urgency in any given scenario.Q.What is meant by the term financial literacy?

Financial inclusion plays a crucial role in inclusive development and sustainable prosperity as is being increasingly recognised and acknowledged globally. Large segment of population need to be part of formal payment system and financial markets. Financial inclusion would also broaden and deepen financial savings and lead to higher economic development.Previous initiatives: While financial sector policies in India have long been driven by the objective of increasing penetration and outreach, the goal of inclusion has eluded us. About 41 per cent of adult population remain unbanked and the number of loan account covers only 14 percent of adult population. The previous initiatives included (i) the expansion of network of cooperative banks to provide credit to agriculture and saving facilities in rural areas, (ii) nationalism of bank in 1969 and expansion of branches and (iii) creation ofan elaborate framework of priority sector lending with mandated targets as part of a strategy to meet the savings and credit needs of large section of the Indian population who had no access to institutional finance. Given the sheer enormity of the challenge, however the outcomes of these efforts have so far been mixed.Recent initiatives/out of the box approaches: Recent initiative include (i) “no frill” account for retail purpose; (ii) simplified KYC (Know Your Customer) (iii) Credit counselling centre facilities; (iv) use of NGOs and formation of SHGs; (v) Kisan credit cards service and (vi) extension of smart cards. The finance Minister in his Budget Speech of 2007-08 also laid down provision for funding of financial inclusion goals. The Rangarajan Committee also spelt out priorities for meeting financial inclusion objectives. Two of the more important approaches in the recent times included the use of technology such as smart cards and mobile telephone banking. The potential for their spread can be vast especially in combination with banking correspondence approach launched recently.New entry and competition: In addition, new competition and entry also play crucial roles, as is evident from the global experience. Two particular initiatives have included the role of Micro Financial Institutions (MFIs) and Non-Bank Finance Companies (NBFCs). MFI activities have surged in recent years, but has come under scrutiny and regulation. Services expanded at a fast rate, providing access on better terms than the alternatives of traditionalmoney lenders. However, better regulation is also needed. On NBFCs, gold pawn establishment have also provided alternate access and are fast expanding in urban and semi-urban settings. As far as caps on interest rates are concerned, as in case of other products, ‘subsidies’ in the form of low interest are often an inhibitor of access to services because of rationing and misuse.Financial Literacy: Any policy initiative seeking to afford greater access to financial services to financial services to a large segment of the population must necessarily address bridging the existing knowledge gap in financial education and literacy. Over the last decade or so, researcher all over the world, especially in the developed countries, have, therefore, started to study and explore whether individuals are wellequipped to make financial decisions. Financial education and literacy assumes urgency in any given scenario.Q.Which of the following is not one of the previous initiatives for financial inclusion?

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Which of the following statement is correct regarding Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.a)Sub component under FAME India Phase II for promotion of Electric Mobility in the countryb)Dedicated lanes for buses in urban areas for improving the reliability of public transport servicesc)Setting up of Compressed Bio-Gas production plants and make it available for use in automotive fuelsd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
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Which of the following statement is correct regarding Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.a)Sub component under FAME India Phase II for promotion of Electric Mobility in the countryb)Dedicated lanes for buses in urban areas for improving the reliability of public transport servicesc)Setting up of Compressed Bio-Gas production plants and make it available for use in automotive fuelsd)None of the aboveCorrect answer is option 'C'. 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 Which of the following statement is correct regarding Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.a)Sub component under FAME India Phase II for promotion of Electric Mobility in the countryb)Dedicated lanes for buses in urban areas for improving the reliability of public transport servicesc)Setting up of Compressed Bio-Gas production plants and make it available for use in automotive fuelsd)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is correct regarding Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.a)Sub component under FAME India Phase II for promotion of Electric Mobility in the countryb)Dedicated lanes for buses in urban areas for improving the reliability of public transport servicesc)Setting up of Compressed Bio-Gas production plants and make it available for use in automotive fuelsd)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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