CURRENT AFFAIRS

2020

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

National Strategy for Financial Inclusion report has recently been released by which authority?

A	Ministry of Finance
B	RBI
C	NITI Aayog
D	Supreme Court

Explanation:

Detailed explanation-1: -The strategy was prepared by the RBI with inputs from the central government and financial sector regulators (Securities and Exchange Board of India, Insurance Regulatory and Development Authority of India and Pension Fund Regulatory and Development Authority of India).

Detailed explanation-2: -The Reserve Bank of India has released the Financial Inclusion Index for 2022, underlining how well financial products and services can be accessed by the general population.

Detailed explanation-3: -It is an ambitious strategy which aims to strengthen the ecosystem for various modes of digital financial services in all Tier-II to Tier VI centres to create the necessary infrastructure to move towards a less-cash society by March 2022.

Detailed explanation-4: -The Committee on Financial Inclusion (Chairman: Dr. C. Rangarajan, RBI, 2008) explicitly included ‘timely and adequate credit at an affordable cost’ for vulnerable groups in the definition of the financial inclusion.

There is 1 question to complete.