Lead Bank Scheme was launched in which year?
1969
Understanding the Lead Bank Scheme
The Lead Bank Scheme is an important initiative in India aimed at bringing about planned development of banking and credit in rural and semi-urban areas. Under this scheme, each district is assigned to a particular bank, known as the 'Lead Bank'. This bank is responsible for coordinating the efforts of all banks and financial institutions in the district to promote financial inclusion and economic development.
Launch Year of Lead Bank Scheme
The concept of the Lead Bank Scheme was introduced in India based on the recommendations of the Gadgil Study Group and the Banker's Committee.
The Lead Bank Scheme was officially launched in the year 1969. Its primary objective was to ensure that banking services are available and accessible in all parts of the country, particularly in areas that were previously unbanked or underbanked.
The Lead Bank acts as a consortium leader for all financial institutions in its designated district. It surveys the district's resources and potential, identifies credit gaps, and prepares district credit plans to ensure coordinated lending and development activities.
Important Questions from Financial Inclusion
The Government of India has been actively working on the provisions of ‘FRDI’ Bill, 2017. What does ‘D’ stand for in ‘FRDI’?
RBI financial inclusion index (FI-Index) quality parameter captures information on which of the following:
A. Financial literacy
B. Consumer protection
C. Ease of access
D. Availability and usage
E. Inequality and deficiency in service
Choose the correct answer from the options given below:
- To support incubating startups that work in the field of livelihood, education and health Bharat Inclusion Initiative is launched. Which institute has launched this initiative?
_____________ is looking to tap into as it seeks to encourage people to gift ‘social security’ plans to their loved ones.
Accidental insurance cover in Pradhan Mantri Jan Dhan Yojna has been increased from 1 lakh to _____________ (PMJDY).
