GENERAL KNOWLEDGE

Detailed explanation-1: -The Lead Bank Scheme is a scheme which aims at providing adequate banking and credit in rural areas through an ‘service area approach’, with one bank assigned for one area. It was introduced in 1969. On the recommendation of the Gadgil Study Group and Banker’s Committee, the Scheme was introduced by RBI.

Detailed explanation-2: -The genesis of the Lead Bank Scheme (LBS) can be traced to the Study Group headed by Prof. D. R. Gadgil (Gadgil Study Group) on the Organizational Framework for the Implementation of the Social Objectives, which submitted its report in October 1969.

Detailed explanation-3: -locational banking statistics (LBS) A BIS-organised data collection that details the currency and geographical composition of banks’ balance sheets. They capture outstanding claims and liabilities of banking offices located in BIS reporting countries, including intragroup positions.