The lead bank scheme was introduced in which year?
Show answer & explanation
Correct answer: A
Explanation
The correct answer is option 1 i.e. 1969.
The Lead Bank Scheme (LBS) was introduced by the Reserve Bank of India in December 1969, based on the recommendations of the Gadgil Study Group and the Nariman Committee. Under this scheme, specific districts are assigned to public or private sector banks to act as a "Lead Bank." The primary objective is to improve rural banking, coordinate between financial institutions, and ensure integrated credit planning to boost the local economy at the district level.