General Intelligence · Critical Reasoning
Read the following information carefully: 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 digital payment systems promoted financial inclusion and improved operational efficiency. Which of the following statements 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 and other banking services.
- 2Efforts have been taken to provide access to banking services in certain areas while systematically excluding unbanked sections of society.✓
- 3Steps have been taken regarding non-performing assets to expedite the resolution of stressed assets and improve recovery mechanisms.
- 4The Prevention of Money Laundering Act (PMLA) aims to prevent money laundering by imposing obligations on banks to verify customer identities.
Correct answer
Efforts have been taken to provide access to banking services in certain areas while systematically excluding unbanked sections of society.
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