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A FINANCIAL INCLUSION
What is the primary objective of Financial Inclusion in India?
Financial Inclusion aims to provide affordable and accessible financial services such as banking, credit, insurance, and remittances to all segments of society, especially the weaker and low-income groups.
What is the minimum balance requirement for a Basic Savings Bank Deposit Account (BSBDA)?
Zero minimum balance is required for BSBDA accounts.
Which committee first formally recommended Financial Inclusion as a policy goal in India?
The C. Rangarajan Committee on Financial Inclusion (2008) formally recommended a comprehensive approach to Financial Inclusion, outlining a national strategy for the same.
What is the maximum number of withdrawals permitted per month in a BSBDA account?
Maximum four withdrawals are allowed per month in BSBDA.
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