Read the following information carefully and answer the question that follows

Banking reforms in India encompass a range of measures such as liberalization, deregulation and technological advancements. The adoption of technology-driven initiatives like core banking solutions, electronic fund transfers and digital payment systems promoted financial inclusion and improved operational efficiency.

Which of the following will WEAKEN the argument that that Banking system in India has become an efficient system?

Given:

Banking reforms in India encompass a range of measures such as liberalization, deregulation and technological advancements. The adoption of technology-driven initiatives like core banking solutions, electronic fund transfers and digital payment systems promoted financial inclusion and improved operational efficiency.

Now, we check each options.

Option (a): The Prevention of Money Laundering Act (PMLA) aims to prevent money laundering by imposing obligations on the banks and financial institutions to maintain records, report transactions and verify customer identities.

This strengthens regulation and doesn't weaken efficiency. It ensures better compliance and security.
Does NOT weaken the argument.​

Option (b): Steps have been taken to the issue of nonperforming assets to expedite there solution of stressed assets and improve recovery mechanisms.

This also supports the idea of improved financial health and efficiency.

Does NOT weaken the argument.

Option (c): Efforts have been taken to provide access of the banking services to some identified areas by not including unbanked sections of the society.

This directly contradicts the idea of financial inclusion, which is a key part of the argument.
This WEAKENS the argument.

Option (d): Financial technology and digital innovation have been adopted for the development of payment systems and other banking services.

This supports the claim of efficiency and technological advancement.
Does NOT weaken the argument.​

Thus, correct option is (c).