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When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Banker's committees?
- a)1960
- b)1969
- c)1972
- d)1980
- e)1989
Correct answer is option 'B'. Can you explain this answer?
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When was Lead Bank Scheme introduced to promote the role of banks in t...
Lead Bank scheme:
- Establishment: 1969
- Objective: To promote the role of banks in the overall development of the rural sector.
- Recommendation: Prof. D. R. Gadgil Study group and Banker's committees.
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When was Lead Bank Scheme introduced to promote the role of banks in t...
Introduction to the Lead Bank Scheme
The Lead Bank Scheme was introduced in 1969 as a significant initiative to enhance the banking sector's involvement in rural development. This was primarily in response to the recommendations made by the Prof. D. R. Gadgil Study Group and various committees formed by bankers.
Objectives of the Lead Bank Scheme
- Promote Financial Inclusion: The scheme aimed to encourage banks to extend their reach into rural areas, ensuring that even the most remote villages had access to banking services.
- Rural Development: It was designed to facilitate the overall development of the rural economy by improving the availability of credit for agriculture and small-scale industries.
Key Features of the Scheme
- Lead Banks: Each district was assigned a Lead Bank, responsible for coordinating the efforts of all banks in that area to ensure comprehensive financial coverage.
- Planning and Monitoring: Lead Banks were tasked with preparing district credit plans and monitoring their implementation, thereby ensuring that the funds were utilized effectively for developmental projects.
- Collaborative Efforts: The scheme encouraged collaboration between banks, government departments, and local communities to create a holistic approach to rural development.
Impact of the Lead Bank Scheme
- Increased Banking Penetration: The introduction of this scheme led to a significant increase in the number of bank branches in rural areas.
- Financial Literacy: It also played a crucial role in promoting financial literacy among rural populations, empowering them to make informed financial decisions.
In summary, the Lead Bank Scheme, launched in 1969, marked a pivotal moment in Indian banking history by focusing on rural development and financial inclusion, thus fostering economic growth in the countryside.
The Lead Bank Scheme was introduced in 1969 as a significant initiative to enhance the banking sector's involvement in rural development. This was primarily in response to the recommendations made by the Prof. D. R. Gadgil Study Group and various committees formed by bankers.
Objectives of the Lead Bank Scheme
- Promote Financial Inclusion: The scheme aimed to encourage banks to extend their reach into rural areas, ensuring that even the most remote villages had access to banking services.
- Rural Development: It was designed to facilitate the overall development of the rural economy by improving the availability of credit for agriculture and small-scale industries.
Key Features of the Scheme
- Lead Banks: Each district was assigned a Lead Bank, responsible for coordinating the efforts of all banks in that area to ensure comprehensive financial coverage.
- Planning and Monitoring: Lead Banks were tasked with preparing district credit plans and monitoring their implementation, thereby ensuring that the funds were utilized effectively for developmental projects.
- Collaborative Efforts: The scheme encouraged collaboration between banks, government departments, and local communities to create a holistic approach to rural development.
Impact of the Lead Bank Scheme
- Increased Banking Penetration: The introduction of this scheme led to a significant increase in the number of bank branches in rural areas.
- Financial Literacy: It also played a crucial role in promoting financial literacy among rural populations, empowering them to make informed financial decisions.
In summary, the Lead Bank Scheme, launched in 1969, marked a pivotal moment in Indian banking history by focusing on rural development and financial inclusion, thus fostering economic growth in the countryside.
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When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. 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 When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. 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 When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. Can you explain this answer?.
When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. 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 When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. 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 When was Lead Bank Scheme introduced to promote the role of banks in the overall development of the rural sector under the recommendation of Prof. D. R. Gadgil Study group and Bankers committees?a)1960b)1969c)1972d)1980e)1989Correct answer is option 'B'. Can you explain this answer?.
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