| Consider the following: |
| 1. At present there are 27 commercial banks in public sector in the country. |
| 2. Nationalisation of banks was a part of financial inclusion. Which of these statements is/are correct? |
A) Only 1
B) Only 2
C) Both 1 and 2
D) neither 1 nor 2
Correct Answer: C
Solution :
[c] At present, there are 27 Public Sector Banks in India including SBI (plus its 5 associates) and 19 nationalized banks. Further, there are two banks which have been categorized by RBI as "Other Public Sector Banks". IDBI and Bhartiya Mahila Bank come under this category. Of course, nationalisation of banks has helped a lot in escalating the process financial inclusion, though the term financial inclusion was not used by anybody during the period of nationalisation.
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