The correct answer is C. 1 & 3 only.
The government’s goal of achieving 100% financial inclusion is to ensure that all Indians have access to basic financial services, such as savings accounts, loans, and insurance. This is a complex and challenging goal, and there is no single solution that will guarantee success. However, the three suggestions listed in the question are all potentially helpful in achieving this goal.
Consolidating public sector banks could help to improve efficiency and reduce costs. This could lead to lower fees and better service for customers. However, it is important to ensure that consolidation does not lead to job losses or a decrease in competition.
Providing new licenses to private players could help to increase competition and innovation in the financial sector. This could lead to better products and services for customers. However, it is important to ensure that new entrants are properly regulated to protect consumers.
Supporting cooperative banks could help to reach underserved communities. Cooperative banks are often well-positioned to serve rural and low-income areas. However, it is important to ensure that cooperative banks are financially sound and well-managed.
In conclusion, all three of the suggestions listed in the question could potentially help to achieve the government’s goal of 100% financial inclusion. However, it is important to carefully consider the potential risks and benefits of each approach before implementing any changes.