FINANCIAL INCLUSION AND DEVELOPMENT
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Central Banking (Elective) — CAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
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
What is the Pradhan Mantri Jan Dhan Yojana (PMJDY) and when was it launched?
PMJDY is a national financial inclusion mission launched on August 28, 2014, aiming to provide universal banking access with zero-balance accounts, RuPay debit cards, and overdraft facilities to unbanked households.
What is the maximum monthly withdrawal limit allowed under a BSBD account?
Four withdrawals per month including ATM withdrawals
What is a Basic Savings Bank Deposit (BSBD) account and what are its key features?
A BSBD account is a no-frills, zero-minimum-balance account mandated by RBI to promote financial inclusion, allowing four free withdrawals per month and offering basic banking services without any charges.
Which institution manages the SHG-Bank Linkage Programme in India?
NABARD manages and promotes the SHG-Bank Linkage Programme
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