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Which of the following Organization introduced the concept of Financial Inclusion in India ?
- a)MUDRA Bank
- b)Reserve Bank of India
- c)NABARD
- d)SEBI
- e)None of these
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Which of the following Organization introduced the concept of Financia...
- The concept of financial inclusion was first introduced in India in 2005 by the Reserve Bank of India.
- Reserve Bank of India (RBI):-
- The Reserve Bank of India was established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act 1934
- since Nationalisation in 1949, the Reserve Bank is fully owned by the Government of India.
- AIM:
- To regulate the issue of Banknotes and keeping of reserves with a view to securing monetary stability in India and generally to operate the currency and credit system of the country to its advantage; to have a modern monetary policy framework to meet the challenge of an increasingly complex economy, to maintain price stability while keeping in mind the objective of growth.
- It is known as Banker's Bank.
- It has the power to provide and cancel the license to other commercials, scheduled banks.
- Headquarters: Mumbai.
- Governor: Shakthikantha Das.
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