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In this year's Budget, the Finance Minister had proposed a high-level committee on 'Banking for Viksit Bharat', to comprehensively review the sector and align it with India's next phase of growth
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The government's focus on 'Banking for Viksit Bharat' is in line with the vision of the National Financial Switch (NFS) for a digital and inclusive financial system, as outlined in the National Digital Payment Policy.
Prelims Practice MCQs
Consider the following statements regarding High-Level Committee on Banking: 1. The Finance Minister proposed a high-level committee on 'Banking for Viksit Bharat' in last year's Budget. 2. The committee will review the banking sector and align it with India's next phase of growth. 3. The committee is a low-level panel. How many of the above statements are correct?
Statement 1 is false because the fact list states that the Finance Minister proposed the committee in this year's Budget (statement 6). Statement 2 is true because the fact list states that the committee will review the banking sector (statement 4) and align it with India's next phase of growth (statement 5). Statement 3 is false because the fact list states that the committee will be a high-level panel (statement 3).
Consider the following two statements: Statement-I: The committee on 'Banking for Viksit Bharat' will review the banking sector. Statement-II: The committee on 'Banking for Viksit Bharat' is proposed in this year's Budget. Which one of the following is correct in respect of the above statements?
Statement 1 is true because the fact list states that the committee will review the banking sector (statement 4). Statement 2 is true because the fact list states that the committee is proposed in this year's Budget (statement 6). Statement 2 explains why Statement 1 is true because the committee's purpose of reviewing the banking sector is a direct consequence of it being proposed in this year's Budget.