The Govt of India in general and the Banks in particular are very much after Financial Inclusion. a goal which both of them wish to achieve as early as possible. What is the actual meaning of Financial Inclusion? [OBC 2008]begin{enumerate}item Each and every individual above the age of 21 years should have an employment and/or independent source of income enough for him/her to sustain.item It is a concept which envisages that maximum people in India should have access to banking services.item Banking services should be provided only to those who have a valid and legal source of income as Govt of India wants each and every person in the income tax net irrespective of the level of their income.end{enumerate}

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

The Govt of India in general and the Banks in particular are very much after ‘Financial Inclusion’. a goal which both of them wish to achieve as early as possible. What is the actual meaning of “Financial Inclusion"? [OBC 2008]

A	Only 1 is true
B	Only 2 is true
C	Only 3 is true
D	All the above are true

Explanation:

Detailed explanation-1: -Financial inclusion will enable banks to provide credit to vulnerable groups such as weaker sections and low-income group at a reasonable cost. It will also help banks to provide financial products to such sections and enable them to understand the importance of saving and investing money.

Detailed explanation-2: -Detailed Solution. The correct answer is Lead Banking Scheme. Key Points Lead Banking Scheme. The Lead Bank Scheme is a scheme that aims at providing adequate banking and credit in rural areas through a ‘service area approach’, with one bank assigned for one area.

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