Study the following table, figure, and passage, and answer the questions given below it.
| Commercial banks act as intermediaries in the country's financial system to bring savers and investors together. They are profit-seeking financial institutions. Due to bank nationalisation in 1969, there was an increase in Loan disbursement in urban and rural areas. Agriculture and retail traders started getting more loons. Those sectors which were not getting Loons before 1969, started getting loons in post nationalisation period. After the nationalisation of the bank branch expansion took place. There has been diversification in the functions of banks. Commercial Banks are providing different types of services like safe deposit lockers, D-mat facilities, internet banking, mobile banking, etc. |
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| Write any two benefits of bank nationalisation. |
| Write various services provided by banks. |
| Write your opinion about the above passage. |
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Start your 14-day free trial to unlock the full solution →Two benefits: credit reached neglected sectors and branches expanded to rural areas; banks offer lockers, D-mat, internet and mobile banking; in my view nationalisation made banking more inclusive.
(a) Any two benefits of bank nationalisation:
- Wider Credit / Priority-Sector Lending — After the 1969 nationalisation, loan disbursement rose in both urban and rural areas, and sectors like agriculture and retail traders that were ignored before began receiving loans.
- Branch Expansion — Nationalisation led to a large expansion of bank branches, especially in rural and semi-urban areas, spreading the banking habit and mobilising more savings.
(b) Various services provided by banks:
Modern commercial banks provide diversified services such as safe deposit lockers, D-mat (dematerialised securities) facilities, internet banking, mobile banking, along with the traditional functions of accepting deposits, granting loans and remitting funds.
(c) My opinion about the passage: …
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