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Q90 (UPPCS/2022) Economy › Schemes, Inclusion & Social Sector

L.B.S. is one of the economic measures taken by the Government of India for financial inclusion. What is L.B.S. in this context ?

Explanation

The Lead Bank Scheme (LBS) was introduced by the Reserve Bank of India (RBI) in 1969, following the recommendations of the Gadgil Study Group and the Nariman Committee. The scheme's primary objective is to enhance financial inclusion and ensure coordinated efforts by banks to meet the credit needs of the rural economy. Under LBS, a specific bank (usually a public sector bank) is designated as the 'Lead Bank' for each district. This bank acts as a leader to coordinate with other financial institutions and government agencies to prepare and implement District Credit Plans (DCP). It aims to bridge the gap in banking services and promote integrated development at the district level. Options B, C, and D are incorrect terms not associated with this specific economic measure.

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SIMILAR QUESTIONS

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