Economics · Financial Inclusion
Based on institutional frameworks, Statement 1 outlines funding for digital infrastructure via NABARD's Financial Inclusion Fund. Statement 2 describes the '5 C' strategy from the National Strategy for Financial Education. Statement 3 focuses on consumer protection and the RBI's zero-liability framework for digital fraud. Which of the following provides the most comprehensive summary of the institutional framework for financial inclusion?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The institutional framework has shifted entirely to the private sector, leaving no regulatory or developmental role for institutions like the RBI or NABARD.
- 2Consumer protection is the only relevant part of the framework as funding and strategy are internal matters that do not affect the end consumer.
- 3The institutional framework is solely dependent on the grants provided by the Financial Inclusion Fund and lacks a strategic vision for consumer protection.
- 4The framework is a multi-layered system where funding supports infrastructure, strategy guides education, and protection ensures consumer safety.✓
Correct answer
The framework is a multi-layered system where funding supports infrastructure, strategy guides education, and protection ensures consumer safety.
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