A FINANCIAL INCLUSION
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Free sample — 8 of 66 rapid-fire Q&A cards.
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.
What is a Basic Savings Bank Deposit Account (BSBDA)?
BSBDA is a zero-balance savings account with no minimum balance requirement, designed to bring unbanked individuals into the formal banking system under RBI guidelines.
Under which scheme was the Jan Dhan Darshak app launched to help people locate banking services?
Jan Dhan Darshak app was launched under PMJDY scheme.
What is the maximum cash withdrawal allowed per week in a BSBDA Small Account?
A BSBDA Small Account permits cash withdrawals not exceeding Rs. 10,000 per month, with a maximum balance of Rs. 50,000 at any point in time.
What is the annual premium for Pradhan Mantri Suraksha Bima Yojana (PMSBY)?
Annual premium for PMSBY is Rs. 20 per year.
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