WBCS.LIVE practice question

The 'Lead Bank Scheme' was introduced based on the recommendations of?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. Narasimham Committee
  2. Hilton Young Commission
  3. Gadgil Study Group
  4. Verma Committee

Correct answer and explanation

Correct answer: Gadgil Study Group

Explanation: āœ… Correct Answer: C) Gadgil Study Group šŸ“š Explanation: The Lead Bank Scheme was introduced by the RBI in 1969 based on the recommendations of the Gadgil Study Group and the Nariman Committee. Under this scheme, a specific bank is assigned a 'lead' role for a district to coordinate the efforts of all credit institutions. The objective is to ensure adequate credit flow to the rural economy and achieve financial inclusion.