BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Government of India
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IRDA
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RBI
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None of the above
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Detailed explanation-1: -(iii) Pursuant to the above recommendations, the Lead Bank Scheme was introduced by the Reserve Bank of India in December 1969.
Detailed explanation-2: -Detailed Solution. The correct answer is option 3. The Lead Bank Scheme, introduced towards the end of 1969, envisages the assignment of lead roles to individual banks (both in the public sector and private sector) for the districts allotted to them.
Detailed explanation-3: -Nariman (Nariman Committee) endorsed the idea of an ‘Area Approach’ in its report (November 1969), recommending that in order to enable the Public Sector Banks to discharge their social responsibilities, each bank should concentrate on certain districts where it should act as a ‘Lead Bank’.
Detailed explanation-4: -Pursuant to the above recommendations, the lead bank scheme was introduced by RBI in December 1969. The lead bank scheme assigned lead role to individual banks in the public sector and private sector for the districts allotted to them.