economics medium MCQ

The 'Swabhiman' initiative, launched by the Government of India and the RBI, was primarily focused on:

  1. Providing free life insurance to all rural citizens
  2. Ensuring financial inclusion by extending banking facilities to unbanked rural habitations
  3. Digitizing all land records in rural India
  4. Providing interest-free loans to women self-help groups

Answer: Ensuring financial inclusion by extending banking facilities to unbanked rural habitations

Launched in 2010, the Swabhiman campaign aimed to provide basic banking services to habitations with a population above 2,000. It utilized the Business Correspondent (BC) model and ICT-based accounts to bring the unbanked rural population into the formal financial fold, laying the groundwork for later schemes like PMJDY.

Topic Banking - Financial Inclusion
Exam Relevance Banking, SSC, UPSC
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