WBCS.LIVE practice question

What type of new Public Sector Bank is proposed to be set up in the 2013-14 Union Budget of India?

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

Answer options

  1. Agricultural Bank
  2. Industrial Bank
  3. Commercial Bank
  4. Women’s Bank

Correct answer and explanation

Correct answer: Women’s Bank

Explanation: ✅ Correct Answer: D. Women’s Bank 📚 Explanation: In the 2013-14 Union Budget, the Indian government proposed setting up the first public sector bank exclusively for women, called the 'Bharatiya Mahila Bank'. The goal was to promote financial inclusion and empowerment for women. The bank was inaugurated later that year and focused on providing loans and financial services to women entrepreneurs. it was eventually merged with the State Bank of India in 2017.