GoI, NABARD and RBI Set up Financial Inclusion and Financial Inclusion Technology Fund
Q. Which among the following made the initial contribution for setting up Financial Inclusion Fund and Financial Inclusion Technology Fund?- Published on 20 Jul 15a. Government of India, NABARD and RBI
b. NABARD, UTI and RBI
c. SIDBI, Government of India and IDBI Bank
d. SIDBI, NABARD and UTI
ANSWER: Government of India, NABARD and RBI
The objectives of the FIF shall be to support developmental and promotional activities with a view to securing greater financial inclusion, particularly among weaker sections, low income groups and in backward regions/hitherto unbanked areas. The objectives of FITF shall be to enhance investment in Information Communication Technology (ICT) aimed at promoting financial inclusion, stimulate the transfer of research and technology in financial inclusion, increase the technological absorption capacity of financial service providers/users and encourage an environment of innovation and cooperation among stakeholders.
