Bhattacharya on the Civic Role of Financial Institutions

The video discusses the role of the State Bank of India in promoting financial inclusion in India. It highlights the importance of financial inclusion for economic growth and job creation, especially given India's large and young population. The speaker explains the concept of financial inclusion, emphasizing accessibility, affordability, quality, and usability. The India Stack initiative, including Aadhaar authentication and digital banking, is introduced as a key driver of financial inclusion. The JAM Trinity, comprising Jandan accounts, Aadhaar, and mobile technology, is highlighted for its impact. Challenges such as commercial viability and the need for collaboration among government, banks, and technology providers are also discussed.

What percentage of banking transactions in India is handled by the State Bank of India?

• 10%

• 50%

• 23%

• 75%

Which of the following is NOT a component of financial inclusion as discussed in the video?

• Accessibility

• Affordability

• Complexity

• Quality

What is the primary purpose of the Aadhaar authentication in the India Stack?

• To open bank accounts

• To offer insurance

• To identify individuals

• To provide loans

Which layer of the India Stack allows for seamless real-time transactions?

• Paperless layer

• Presence-less layer

• Digital layer

• Cashless layer

What does the 'J' in JAM Trinity stand for?

• Jeevansathi

• Janata

• Jeevan

• Jandhan

How many accounts were opened under the JAM Trinity initiative?

• 100 million

• 200 million

• 300 million

• 400 million

What is the role of mobile phones in the JAM Trinity?

• To deliver banking services

• To track expenses

• To offer entertainment

• To provide internet access

What is the expected transaction value through the newly opened accounts in a year?

• $1 billion

• $5 billion

• $10 billion

• $18 billion

What is a major challenge in the initial stages of financial inclusion accounts?

• Excessive regulations

• Commercial viability

• Lack of government support

• High profitability

Why is collaboration necessary for the success of financial inclusion initiatives?

• To improve technology

• To reduce costs

• To increase competition

• To ensure sustainability