Deepak Mohanty committee recommendations
Q. Which of the following is/are recommendations of Deepak Mohanty committee on medium turm path on financial inclusion?
1. Focus on mobile technology by banks
2. Phasing out of universal insurance scheme for all crops.- Published on 30 Dec 15a. Only 1
b. Only 2
c. Both
d. None
ANSWER: Only 1
Recommendations of Deepak Mohanty committee:
- The committee has recommended phasing out interest subsidy on farm loans, and move towards universal insurance scheme for all crops.
- Universal crop insurance scheme covering all crops should be introduced starting with small and marginal farmers with a monetary ceiling say of Rs 200,000. The insurance should be mandatory for all agricultural loans
- It further said commercial banks may be enabled to open specialised interest-free windows with itimsimple products like demand deposits and to offer products based on cost plus financing and deferred payment, deferred delivery contracts on the asset side.
- Installing more ATMs in rural and semi-urban centres will create more touch points for customers.
