Q.State the reasons for nationalization of commercial banks.

The correct option is (c) 2015: MUDRA Bank was launched in 2015.

The MUDRA (Micro Units Development and Refinance Agency) Bank was launched in April 2015 under the Pradhan Mantri MUDRA Yojana to provide credit and refinance support to small and micro business units, which are a major source of non-farm rural and self-employment.

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Under the Kisan Credit Card (KCC) scheme, farmers get credit through all three — RRBs, public sector banks and cooperative banks.

The KCC scheme was launched to give farmers flexible, timely and low-cost short-term credit for cultivation and allied needs. It is implemented across the entire rural banking network — Regional Rural Banks, Public Sector (commercial) Banks and Cooperative Banks — so a farmer can access KCC credit through any of these. Hence the correct choice covers all of them. Rural cr …

The statement about the Indian farmer being born, living and dying in debt was made by Sir Malcolm Darling.

The deep, chronic indebtedness of Indian cultivators was vividly captured by Sir Malcolm Darling in the words, "An Indian farmer is born in debt, lives in debt, dies in debt and bequeaths debt." It highlights how limited access to institutional credit historically pushed farmers into the grip of moneylenders. This problem of rural indebtedness is disc …

Poverty is a cause of rural indebtedness in India.

Rural indebtedness arises when farmers repeatedly borrow and are unable to repay. The root cause is poverty: low and uncertain farm incomes leave little savings, so rural households borrow for cultivation costs, consumption, social ceremonies and emergencies, often at high interest from moneylenders. High productivity and full em …

The SHG-Bank Linkage Programme started in (c) 1992.

The Self Help Group (SHG)-Bank Linkage Programme was launched by NABARD in 1992 as a pilot project. Its aim was to link informal Self Help Groups of the rural poor - especially women - with the formal banking system so that they could obtain small loans and savings facilities without collateral. It has since become one of the largest microfinance programmes in the world and an important source of rural credit.

Why the others are wrong: …