General Studies · Financial Inclusion Initiatives
The National Strategy for Financial Inclusion (NSFI) 2019-2024 set specific targets for geographical access to financial service providers. What is the distance requirement and population criteria specified under this strategy?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Every village within a 2 km radius should have a financial service provider for all villages with a population above 2000 in plains and above 1000 in hilly areas.
- 2Every inhabitant should have access to a financial service provider within a 5 km radius or 15 minutes of travel time for all villages in plains and villages with a population of 500 households in hilly areas.✓
- 3The strategy aims to provide access to a financial service provider within a distance of 5 km for every village in the country, with special focus on providing brick and mortar branches for every village having a population over 5000.
- 4The goal is to ensure that a banking outlet is available within a 10 km radius for every village, while for hilly terrains, a mobile van facility must visit at least twice a month regardless of the village population.
Correct answer
Every inhabitant should have access to a financial service provider within a 5 km radius or 15 minutes of travel time for all villages in plains and villages with a population of 500 households in hilly areas.
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