Question

Public sector banks introduced the scheme of Differential Rate of Interest in the year

• A. 1971
• B. 1972
• C. 1973
• D. 1974

Answer 1

Answer:

B. 1972

The Differential Rate of Interest (DRI) Scheme was introduced by public sector banks in 1972. Objective: To provide cheap credit to the weaker sections of society, such as small farmers, artisans, and small borrowers, at subsidized interest rates. Under this scheme: Loans are given at a lower interest rate than the normal lending rate. It helps promote financial inclusion and support for low-income groups.