Which among the following made the initial contribution for setting up Financial Inclusion Fund and Financial Inclusion Technology Fund? Select one: a. Government of India, NABARD and RBI b. NABARD, UTI and RBI c. SIDBI, Government of India and IDBI Bank d. SIDBI, NABARD and UTI
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The answer is (a) Government of India, NABARD and RBI. Financial Inclusion Fund (FIF), and Financial Inclusion Technology Fund (FITF) is made for upgrade and support for developing and promotional activities and enhancing investment in Information Communication Technology, respectively. These loans are meant for people where banking service is generally not available, in backward regions as well as for weaker sections, low income groups.
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