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    Question

    Read the following information carefully and answer the

    question that follows Banking reforms in India encompass a range of measures such as liberalization, deregulation and technological advancements. The adoption of technology-driven initiatives like core banking solutions, electronic fund transfers and digital payment systems promoted financial inclusion and improved operational efficiency. Which of the following will WEAKEN the argument that that Banking system in India has become an efficient system?
    A Financial technology and digital innovation have been adopted for the development of payment systems and other banking services. Correct Answer Incorrect Answer
    B Steps have been taken to the issue of nonperforming assets to expedite the resolution of stressed assets and improve recovery mechanisms. Correct Answer Incorrect Answer
    C The Prevention of Money Laundering Act (PMLA) aims to prevent money laundering by imposing obligations on the banks and financial institutions to maintain records, report transactions and verify customer identities. Correct Answer Incorrect Answer
    D Efforts have been taken to provide access of the banking services to some identified areas by not including unbanked sections of the society. Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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