Which of the following is not true about financial inclusion in India?
RBI had introduced 'no-frills' accounts in 2005 to provide basic banking facilities to poor and promote financial inclusion. The accounts could be maintained without or with very low minimum balance.
With a view to easing difficulties faced by common persons while opening bank accounts and during periodic updating, guidelines on KYC have been simplified by RBI
Supervisory Review Process is related to implementation of Basel II framework in the bank and has nothing to do with BC model
SHG-Bank linkage programme was launched by NABARD in 1992 and as per lastest estimates of NABARD about 80 lakhs SHGs have been financed by banks covering about 10 crore households.