General Studies · Critical Reasoning
Read the following information carefully and answer the question that follows: Banking reforms in India encompass a range of measures such as liberalization, deregulation and technological advancements. The adoption of technology-driven initiatives like core banking solutions, electronic fund transfers and dig ital payment systems promoted financial inclusion and improved operational efficiency. Which of the following will WEAKEN the argument that the Banking system in India has become an efficient system?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Financial technology and digital innovation have been adopted for the development of payment systems.
- 2Efforts have been taken to provide access to banking services to some identified areas by excluding unbanked sections of society.✓
- 3Steps have been taken regarding non-performing assets to expedite the resolution of stressed assets.
- 4The Prevention of Money Laundering Act (PMLA) aims to prevent money laundering by imposing obligations on banks.
Correct answer
Efforts have been taken to provide access to banking services to some identified areas by excluding unbanked sections of society.
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