BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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RRBs
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NABARD
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SBI
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RBI
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Detailed explanation-1: -Financing of JLGs was introduced as a pilot project in 2004-05 by NABARD in 8 States with the support of 13 RRBs. The scheme was later mainstreamed for the banking system in the year 2006.
Detailed explanation-2: -The SHG-Bank Linkage Programme (SBLP) was initiated as an action research by the National Bank for Agriculture and Rural Development (NABARD) in 1989 and was subsequently crystallized into a pilot project in 1992.
Detailed explanation-3: -We can trace the origin of the concept of SHGs in Bangladesh. Bangladesh has been acknowledged as a pioneer in the field of micro-finance. Dr. Mehmud Yunus, Professor of Economics in Chitgaon University of Bangladesh, was an initiator of an action research project ‘Grameen Bank’.
Detailed explanation-4: -The origin of SHGs is the brainchild of Grameen Bank of Bangladesh, which was founded by Prof. Mohammed Yunus. SHGs were formed in 1975. In India, National Bank for Agricultural and Rural Development (NABARD)
Detailed explanation-5: -NABARD, in 1992, formed the SHG Bank Linkage Project, which is today the world’s largest microfinance project. From 1993 onwards, NABARD, along with the Reserve Bank of India, allowed SHGs to open savings bank accounts in banks.