FINANCIAL INCLUSION
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Principles and Practices of Banking — JAIIB.
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Free sample — 8 of 65 rapid-fire Q&A cards.
What is the primary objective of Financial Inclusion as defined by RBI?
Financial Inclusion aims to ensure access to affordable financial services such as savings, credit, insurance, and payments to all segments of society, especially the excluded and disadvantaged.
What is the minimum number of transactions allowed free per month in a BSBDA?
Four withdrawals per month are allowed free of charge.
Which committee first formally recommended Financial Inclusion in India?
The C. Rangarajan Committee (2008) formally recommended a comprehensive approach to Financial Inclusion, though the Khan Committee (2004) first coined the term in the Indian context.
Under PMJDY, what is the life insurance cover provided to beneficiaries?
Rs. 30,000 life insurance cover is provided under PMJDY.
What is a Basic Savings Bank Deposit Account (BSBDA)?
BSBDA is a zero-balance savings account with limited features offered to individuals without formal income proof, with no minimum balance requirement and a limited number of free transactions per month.
What is the accidental insurance cover available under PMJDY RuPay card?
Rs. 2 lakh accidental insurance cover is available under PMJDY RuPay card.
What is the maximum balance permissible in a BSBDA Small Account?
A BSBDA Small Account can hold a maximum balance of Rs. 50,000 at any point in time and allows annual credits up to Rs. 1,00,000.
What is the full form of FI-MAP in the context of Financial Inclusion?
Financial Inclusion Monitoring and Action Plan is the full form.
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