With respect to Lead bank scheme of RBI which of the following statements is/are correct?

  1. The scheme is applicable only to public sector banks
  2. The Lead Bank Scheme (LBS) was applicable to all districts in the country except districts in metropolitan areas
  3. Lead District Manager of the district is the Chairman of the Block Level Bankers’ Committee and District Collector as chairman for District Consultative Committee (DCC)

Select the correct option from the codes given below:

Answer: [B] Only 2 & 3

First statement is incorrect, as Lead bank scheme is applicable to both public sector bank and private bank. Metropolitan areas were kept out of the Lead Bank Scheme as the reach of banking network in metropolitan areas was quite high in comparison to rural and semi-urban areas in the country.

This question is a part of GKToday's Integrated IAS General Studies Module