Multiple choice

Which of the following statements is/are correct?

  1. In India, the concept of 'financial inclusion' was introduced by eminent economist, Mr. Amartya Sen.
  2. The Ministry of Finance set up the Khan Commission in 2004 to look into financial inclusion.

  1. Only 1

  2. Only 2

  3. Both of these

  4. Neither of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statement 1 is wrong: Financial inclusion or inclusive financing is the delivery of financial services, at affordable costs, to sections of disadvantaged and low income segments of society. In India, financial inclusion first featured in 2005, when it was introduced by K C Chakrabarthy, the chairman of Indian Bank. Statement 2 is wrong: Khan Commission was set up by the RBI, not by the Ministry of Finance.

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