Q. With reference to the recommendations of the Nachiket Mor Committee, consider the following statements:
1.To ensure universal access, it recommended that every Indian resident above 18 years of age should have a full-service electronic bank account by a specific date.
2.It proposed the establishment of a Public Credit Registry (PCR), a comprehensive database of all credit information, to improve the quality of lending in the economy.
Which of the statements given above is/are correct?
Answer: A
Notes:
Explanation:
Statement 1: Correct. A key recommendation of the Nachiket Mor Committee (2014) was the goal of universal electronic bank accounts by January 2016 for all citizens above 18, along with the provision of basic financial services.
Statement 2: Incorrect. The establishment of a Public Credit Registry (PCR) was a key recommendation of the Y.M. Deosthalee Committee (later reinforced by the Vishwanathan Committee), not the Nachiket Mor Committee. The Nachiket Mor Committee primarily focused on ensuring universal access, differentiated banking (Small/Payment Banks), and the use of the Aadhaar platform.
