BANKING AFFAIRS

Detailed explanation-1: -Swabhiman is a scheme aimed to bring banks to rural areas and hence promote financial inclusion. MGNREGA provides livelihood guarantee by generating 100 days of wage employment. It is based on the principle of ‘right to work’ and promotes inclusiveness.

Detailed explanation-2: -The swabhiman movement facilitate opening of bank accounts, provide need based credit, remittance facilities and help to promote financial literacy in rural India using various models and technologies including branchless banking models through Business correspondents.

Detailed explanation-3: -The Correct answer is PMJDY. PMJDY: Stands for Pradhan Mantri Jan Dhan Yojna. It is a National Mission for Financial Inclusion to ensure access to financial services, namely, Banking/ Savings & Deposit Accounts, Remittance, Credit, Insurance, Pension in an affordable manner.

Detailed explanation-4: -Financial inclusion is a method of offering banking and financial services to individuals. It aims to include everybody in society by giving them basic financial services regardless of their income or savings. It focuses on providing financial solutions to the economically underprivileged.