Which initiatives strengthened the government's resolution to go cashless.
(A) Jan Dhan accounts.
(B) Aadhar enabled payment systems.
(C) E-Wallets.
(D) National financial Switch.
Choose the correct answer from the options given below:
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (B), (C) and (D)
The government has been investing in reforms for greater financial inclusion, that is, bringing more people into the banking system. In the last few years, all four of these initiatives have strengthened its resolve to go cashless: (A) Jan Dhan accounts, (B) Aadhar enabled payment systems, (C) E-Wallets and (D) National financial Switch.
Mobile and smart phones have helped to make financial inclusion a realistic aim.
NCERT (2026-27): “…Some countries have made an attempt to move towards an economy which use less of cash and more of digital transactions. A cashless society describes an economic state whereby financial transactions are not connected with money in the form of physical bank notes or coins but rather through the transfer of digital information (usually an electronic representation of money) between the transacting parties. In India government has been consistently investing in various reforms for greater financial inclusion. During the last few years’ initiatives such as Jan Dhan accounts, Aadhar enabled payment systems, e –Wallets, National financial Switch (NFS) and others have strengthened the government resolve to go cashless. Today, financial inclusion is seen as a realistic dream because of mobile and smart phone penetration across the country.” |