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16 A FINANCIAL INCLUSION
What is the primary objective of Financial Inclusion as defined by RBI?
Financial Inclusion aims to provide access to appropriate financial products and services to all segments of society, especially the underprivileged and low-income groups, at an affordable cost and in a fair and transparent manner.
What is the National Strategy for Financial Inclusion (NSFI) and which body releases it?
RBI's roadmap to expand financial services access to all citizens.
Which RBI committee first formally recommended a comprehensive approach to Financial Inclusion in India?
The C. Rangarajan Committee on Financial Inclusion (2008) provided a comprehensive framework, recommending measures to bring unbanked populations into the formal financial system.
What is the minimum balance requirement for a Basic Savings Bank Deposit Account (BSBDA)?
Zero minimum balance; no charges for non-maintenance.
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