With reference to India, Consider the following: 1. Nationalization of Banks 2. Formation of Regional Rural Banks 3. Adoption of villages by Bank Branches Which of the above can be considered as steps taken to achieve the financial inclusion in India.

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Q: 78 (IAS/2010)
With reference to India, Consider the following:
1. Nationalization of Banks
2. Formation of Regional Rural Banks
3. Adoption of villages by Bank Branches
Which of the above can be considered as steps taken to achieve the “financial inclusion” in India.

question_subject: 

Economics

question_exam: 

IAS

stats: 

0,133,57,23,29,5,133

keywords: 

{'regional rural banks': [0, 0, 2, 1], 'financial inclusion': [0, 0, 1, 6], 'banks': [5, 6, 5, 25], 'bank branches': [0, 0, 1, 0], 'villages': [2, 0, 3, 14], 'nationalization': [0, 0, 1, 0], 'india': [8, 1, 7, 13], 'adoption': [0, 0, 1, 2]}

All the options given in the question can be considered as steps taken to achieve financial inclusion in India.

1. Nationalization of Banks: In 1969, the government of India nationalized 14 commercial banks to increase banking penetration in rural and semi-urban areas, provide banking services to the unbanked and under-banked population, and promote financial inclusion.

2. Formation of Regional Rural Banks: In 1975, Regional Rural Banks (RRBs) were established to provide credit and other banking facilities to rural areas, especially the small and marginal farmers, agricultural laborers, and rural artisans.

3. Adoption of villages by Bank Branches: Under the “Adopt a Village” program, each bank branch in India is required to adopt at least one village and provide basic banking facilities, credit, and other financial services to the people in the village.

Therefore, the correct answer is option 4: 1, 2 and 3.