Social Banking in India
India adopted social banking and multi-agency approach to meet rural credit needs after which year?
- 1947
- 1969 — Correct Answer
- 1982
- 1991
Explanation:
Correct Answer Explanation
A major change occurred after 1969 when India adopted social banking and multi-agency approach to adequately meet the needs of rural credit.
Key Points:
- In 1969, 14 major commercial banks were nationalised.
- This led to the adoption of social banking approach.
- Multi-agency approach included commercial banks, RRBs, cooperatives and land development banks.
- Before 1969, moneylenders and traders exploited small and marginal farmers.
Why Other Options Are Wrong
- A (1947): Independence year; social banking was not adopted then.
- C (1982): NABARD was established this year.
- D (1991): Economic liberalisation began this year.
📚 About this Topic — CH-5: RURAL DEVELOPMENT
This multiple choice question is from CH-5: RURAL DEVELOPMENT, Indian Economic Development, NCERT Books. It has 4 options with a detailed explanation of the correct answer. Practice more MCQs from CH-5: RURAL DEVELOPMENT to strengthen your preparation.
