BANKING AFFAIRS

Detailed explanation-1: -Hence, Nachiket committee recommends a new type of banks called the “wholesale bank”, so that large NBFCs can be turned into wholesale banks and brought under the regulation of RBI. District-level inclusion metrics: such as credit-GDP ratio for monitoring of financial inclusion.

Detailed explanation-2: -Several recommendations were made by the Nachiket Mor Committee, one of which was to provide a universal bank account to all Indians above 18 years of age by January 01, 2016. Emphasised the importance of Aadhaar as the main force behind the process of increasing the number of bank accounts.

Detailed explanation-3: -It was headed by Nachiket Mor. The objective of the panel was to study various aspects of financial inclusion in India.

Detailed explanation-4: -The Nariman Committee in 1969 recommended a scheme to unite the commercials banks co-operative banks and government and semi-government agencies to work together for the socio-economic growth of the country. The Lead Bank Scheme was also introduced.