Passage

In the last decade, the banking sector has been restructured with a high degree of automation and products that mainly serve middle-class and upper middle-class society. Today there is a need for a new agenda for the banking and non-banking financial services that does not exclude the common man.

QUESTION

CSAT

Medium

Comprehension

Prelims 2016

Which one of the following is the message that is essentially implied in the above passage?

Select an option to attempt

Explanation

Statement A is incorrect. The passage mentions that banking has already undergone a high degree of automation. However, the issue highlighted is the exclusion of the common man, not the need for further automation.

Statement B is incorrect. The passage does not discuss the need for radically restructuring the entire public finance system. Instead, it focuses on making banking and financial services more inclusive.

Statement C is incorrect. While non-banking financial institutions are mentioned, the passage does not emphasize their integration with banking institutions as the core message.

Statement D is correct. The passage clearly states that the existing banking system mainly serves the middle-class and upper middle-class society, and there is a need for an agenda that does not exclude the common man. This directly points to financial inclusion, making it the most appropriate answer.

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