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What does ‘Financial Inclusion’ mean?
  • a)
    Allow the merger and acquisition of banks so that only few big banks exist and continue to cater to the need of corporate sector.
  • b)
    Providing insurance cover to each and every citizen so that he/she can live a healthy and long life.
  • c)
    Expanding the network of banks of such a way that people from lower strata of society also get the benefit of services provided by banks
  • d)
    To manage banking operations smoothly and merge nationalized banks for further financial settlements.
  • e)
    None of these
Correct answer is option 'C'. Can you explain this answer?
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What does ‘Financial Inclusion’ mean?a)Allow the merger an...
In the Indian context, the term ‘financial inclusion’ was used for the first time in April 2005 in the Annual Policy Statement presented by Y.Venugopal Reddy, the then Governor, Reserve Bank of India. While recognizing the concerns in regard to the banking practices that tend to exclude rather than attract vast sections of population, banks were urged to review their existing practices to align them with the objective of financial inclusion.
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What does ‘Financial Inclusion’ mean?a)Allow the merger and acquisition of banks so that only few big banks exist and continue to cater to the need of corporate sector.b)Providing insurance cover to each and every citizen so that he/she can live a healthy and long life.c)Expanding the network of banks of such a way that people from lower strata of society also get the benefit of services provided by banksd)To manage banking operations smoothly and merge nationalized banks for further financial settlements.e)None of theseCorrect answer is option 'C'. Can you explain this answer? for Banking Exams 2025 is part of Banking Exams preparation. The Question and answers have been prepared according to the Banking Exams exam syllabus. Information about What does ‘Financial Inclusion’ mean?a)Allow the merger and acquisition of banks so that only few big banks exist and continue to cater to the need of corporate sector.b)Providing insurance cover to each and every citizen so that he/she can live a healthy and long life.c)Expanding the network of banks of such a way that people from lower strata of society also get the benefit of services provided by banksd)To manage banking operations smoothly and merge nationalized banks for further financial settlements.e)None of theseCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Banking Exams 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What does ‘Financial Inclusion’ mean?a)Allow the merger and acquisition of banks so that only few big banks exist and continue to cater to the need of corporate sector.b)Providing insurance cover to each and every citizen so that he/she can live a healthy and long life.c)Expanding the network of banks of such a way that people from lower strata of society also get the benefit of services provided by banksd)To manage banking operations smoothly and merge nationalized banks for further financial settlements.e)None of theseCorrect answer is option 'C'. Can you explain this answer?.
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