Which of the following statement/statements are true?
Statement 1: There is a move towards making Indian economy a cashless society.
Statement 2: Financial inclusion is seen as a realistic dream because of digitalisation.
Answer & explanation
Correct answer: option 1
The correct answer is option 1:Both the statements are true
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Statement 1: There is indeed a move towards making the Indian economy a cashless society. Initiatives such as digital payment systems, mobile banking, and government policies aim to reduce the reliance on cash and promote electronic transactions.
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Statement 2: Financial inclusion is increasingly seen as a realistic goal due to digitalization. The growth of digital banking, mobile wallets, and other financial technologies has made it easier for a broader segment of the population to access financial services.