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FINANCIAL INCLUSION AND DEVELOPMENT
What is the definition of financial inclusion as adopted by the Reserve Bank of India?
Financial inclusion is the process of ensuring access to appropriate financial products and services needed by vulnerable groups at an affordable cost in a fair and transparent manner by mainstream institutional players.
What is the FI-Index composite score range published by RBI annually?
0 to 100, with 100 representing full financial inclusion
Which committee first formally recommended financial inclusion as a policy objective in India?
The C. Rangarajan Committee on Financial Inclusion (2008) formally recommended a national financial inclusion strategy, emphasizing credit, savings, and insurance access for the unbanked population.
What is the minimum balance requirement for a Basic Savings Bank Deposit Account?
Zero minimum balance is required for BSBD accounts
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