Indian National Strategy for Financial Inclusion, 2019–24 aims at:

A. Broadening and deepening of financial inclusion
B. Digitisation and seamless facilitation of financial transactions
C. Access to formal financial services in an affordable manner
D. Women empowerment and strengthening self-help group (SHG) ecosystems
E. Promoting financial literacy and consumer protection

Choose the most appropriate answer from the options given below:​

Correct option is D

The Indian National Strategy for Financial Inclusion (NSFI) 2019–2024, released by the Reserve Bank of India (RBI), is a comprehensive framework that outlines key pillars and strategic objectives to promote financial inclusion in India.

The main aims of this strategy are:

• (A) Broadening and Deepening of Financial Inclusion:
  It emphasizes increasing access to financial products and services across geographies, particularly in underserved areas, and extending services to all sections of society.

• (C) Access to Formal Financial Services in an Affordable Manner:
  The strategy seeks to ensure that every individual, especially the poor and marginalized, has convenient, timely, and affordable access to savings, credit, insurance, pension, and investment products.

• (E) Promoting Financial Literacy and Consumer Protection:
  The strategy gives special attention to financial awareness, ensuring people understand financial products and their rights, thereby enhancing the quality of inclusion. Consumer grievance redressal is also an important part of this.

While digitisation and SHG empowerment are important contributors to financial inclusion, the core focus areas explicitly highlighted as strategic objectives in the NSFI document are A, C, and E.

Information Booster:

The NSFI 2019–2024 was developed by RBI in consultation with several stakeholders like SEBI, IRDAI, PFRDA, NABARD, and others. Its six strategic objectives include:

• Universal Access to Financial Services

• Providing Basic Financial Services at a Reasonable Cost

• Digital Financial Literacy and Infrastructure

• Financial Literacy and Education

• Effective Grievance Redress Mechanisms

• Monitoring and Evaluation

The strategy emphasizes the responsible delivery of financial services that leads to improved financial resilience and well-being, especially for lower-income groups.

Additional Knowledge:

(B) Digitisation and seamless facilitation of financial transactions
While digital inclusion is enabler under the NSFI, it is not explicitly listed as a core aim of the NSFI 2019–24. Digitisation is a means to achieve financial inclusion rather than a direct objective.

(D) Women empowerment and strengthening SHG ecosystems
Though SHG empowerment and women's financial inclusion are supported under various government schemes like NRLM, PMMY, and Jan Dhan, this is not a direct strategic aim listed under the NSFI framework itself.