Question

Consider the following statements about Swabhimaan:
1. It is a scheme of the Ministry of Finance.
2. It is a financial security programme to ensure banking facilities in habitation with a population in excess of 2000.
Which of the statements given above is/are correct?

• A. 1 only
• B. 2 only
• C. Both 1 and 2
• D. Neither 1 nor 2

Answer 1

The correct option is B 2 only

Swabhimaan is a nationwide financial security/ financial inclusion programme launched by the GoI in 2011. Its objective is to ensure banking facilities in habitation with a population in excess of 2000. It was launched by Ministry of Labour and Employment. This initiative enables small and marginal farmers to obtain credit at lower rates from banks and other financial institutions.