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eOdisha Summit 2014 - Financial Inclusion...  - S K Kale, CGM, National Bank for Agriculture...
 

eOdisha Summit 2014 - Financial Inclusion... - S K Kale, CGM, National Bank for Agriculture...

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    eOdisha Summit 2014 - Financial Inclusion...  - S K Kale, CGM, National Bank for Agriculture... eOdisha Summit 2014 - Financial Inclusion... - S K Kale, CGM, National Bank for Agriculture... Presentation Transcript

    • FINANCIAL INCLUSION INNOVATIONS AND INITIATIVES
    • ABOUT NABARD • NABARD ESTABLISHED IN 1982 BY AN ACT OF PARLIAMENT • PUSHING RURAL ECONOMY – AUGMENTING RURAL CREDIT FLOW – SUPPORTING AND SUPERVISING RFIs – DEVELOPMENTAL AND PROMOTIONAL ROLE
    • FINANCIAL INCLUSION INCLUSIVE GROWTH • NATIONAL PRIORITY • 12 TH PLAN THEME • FINANCIAL INCLUSION MEANS TO INCLUSIVE GROWTH
    • FINANCIAL INCLUSION DEFINED • “the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.” --- C Rangarajan
    • FINANCIAL INCLUSIONI IN INDIA STATISTICS • WORLD BANK ( 2012) FINDEX SURVEY – 35 % ADULTS HAVE ACCESS TO FORMAL BANK ACCOUNT • 2% ADULT USE THEM FOR REMITTANCE • 4% USE THEM FOR GOVT. PAYMENTS • 56 % RURAL HOUSEHOLDS EXCLUDED • 42.3 % POLPULATION DO NOT AVAIL BANKING SERVICES • 51.4% of 89.3 MILLION FARMER HOUSEHOLDS ARE EXCLUDED FROM BOTH FORMAL/INFORMAL SOURCES • 66% MARGINAL FARMER HOUSEHOLD EXCLUDED
    • FINANCIAL INCLUSION – STEPS TAKEN • NEED FOR TAKING BANKING, INSURANCE, PENSION AND REMITTANCE FACILITY TO UNREACHED. • TO COVER THE UNBANKED VILLAGES WITH A BANKING OUTLET – BRICK AND MORTAR BRANCH – BC/BCA – OTHER MODE – ALLOCATION OF VILLAGES BY SLBC • POPULATION >2000 ( 1877 IN ODISHA COVERED) • POLPULATION < 2000 – 45778 IN ODISHA TO BE COVERED BY 2015 – 1870 OF TARGET 19774 COVERED AS ON 30 SEPT 2013
    • FINANCIAL INCLUSION – STEPS BEING TAKEN • • • • • • SELF TARGET OF BANKS IN FORM OF FIP MONITORING OF FIP BY RBI/NABARD ALL BANKS INCLUDING DCCBS TO MIGRATE TO CBS PLATFORM KCC IN THE FORM OF RUPAY KCC CARDS NO. OF PAYMENT OUTLETS INCREASED MOBILE TELEPHONY USED FOR REMITTANCE.
    • FI MODELS IN INDIA • FINANCIAL INCLUSION AIMED AT CONNECTING PEOPLE TO MAINSTREAM FINANCIAL INSTITUTIONS • ROAD MAP FOR BANKING SERVICES IN A STRUCTURED WAY • LEVERAGING ON TECHNOLOGY • OTHER INTERMEDIARIES AND TECHNOLOGY PARTNER WITH BANKS
    • FI MODELS IN INDIA • ICT BASED MODEL : SMART CARD • KIOSK BASED BANKING • MOBILE BANKING
    • FINANCIAL INCLUSION IN ODISHA – PROGRESS AS ON 30 SEPTEMBER 2013 • 219 BRANCHES OPENED IN FIP VILLAGES • 3443 BCs IN FIP VILLAGES • 95 LAKHS BSBDAs OPENED • 13.3 LAKHS FARMERS PROVIDED WITH KCC • 1.3 LAKHS PROVIDED WITH GCCs • 8.9 LAKH TRANSACTIONS THROUGH BC-ICT SOLUTIONS
    • INITIATIVES OF NABARD IN FINANCIAL INCLUSION • SPECIAL ATTENTION TO BOTH FINANCIAL INCLUSION AND FINANCIAL LITERACY • MANAGES TWO FUNDS W.E.F 2007-8 – FINANCIAL INCLUSION FUND • COST OF DEVELOPMENTAL AND PROMOTIONAL INTERVENTIONS – FINANCIAL INCLUSION TECHNOLOGY FUND • COST OF TECHNOLOGY ADOPTION FOR FINANCIAL INCLUSION – CHAIRMAN OF ADVISORY BOARD TO RENDER POLICY FOR MGMT OF THE FUNDS
    • INITIATIVES OF NABARD IN FINANCIAL INCLUSION • INITIATIVES ON BOTH ‘SUPPLY’ AND ‘DEMAND’ SIDE • DEMAND SIDE INITIATIVES – EDUCATION AND LITERACY INITIATIVES – PARTNER WITH BANKS, GOVT. AND NGOs – USE OF MEDIA
    • INITIATIVES OF NABARD IN FINANCIAL INCLUSION • SUPPLY SIDE INITIATIVES – FOR ACHIEVING FINANCIAL INCLUSION, USE OF TECHNOLOGY IS MAIN FACTOR – SUPPORTS CORE BANKING SOLUTIONS FOR WEAK RRBS -Rs 27.50 CRORES ( ALL ERSWHILE RRBs EXCEPT RUSIKULYA GB) – SUPPORTS ICT SOLUTIONS FOR RRBS – Rs 5.38 CRORES ( ERSTWHILE BAITARANI,UTKAL, KALINGA) – SUPPORTS ATMS OF DCCBs – SUPPORTS MOBILE VANS ( BAITARANI GB)
    • INITIATIVES OF NABARD • TRAINING STATE LEVEL TRAINERS AND DISTRICT LEVEL TRAINERS FOR TRAINING BC/BCA • TRG TO RRB AND DCCB PERSONNEL ON FI • ASSISTANCE TO DCCBs AND RRBS FOR 68 FLCS. 64 AT BLOCK LEVEL AND 4 AT DISTRICT LEVEL SO FAR • SPU-KCC. ENCOURAGE RRBs AND COOPERATIVE BANKS TO ISSUE RUPAY/KCC DEBIT CARDS.
    • INITIATIVES OF NABARD • FINANCIAL LITERACY THROUGH AUDIO-VISUAL MEDIUM- SAMBHAB • FI MESSAGES THROUGH AIR, BIG FM AND TV CHANNELS • FINANCIAL LITERACY CAMPAIGNS THROUGH STREET PLAYS, DASKATHIA, PUPPET SHOWS, PALA ETC. MORE THAN 1200 PROGRAMMES DURING LAST 3 YEARS • FINANCIAL MESSAGES THROUGH WALL PAINTINGS IN VILLAGES • VARIOUS PROGRAMMESS THROUGH DDMS • BOOKS, PAMPHLETS, CALENDARS AND FLIP CHARTS WITH FI MESSAGES
    • ISSUES IN FINANCIAL INCLUSION • UNVIABILITY OF BC MODEL • ATTRITION OF BCs • TECHNOLOGY SERVICE PROVIDERS • OPENING OF BANKING OUTLETS AS PER SLBC NOT BEING ADHERED TO • INVESTMENT IN HUMAN DEVELOPMENT AFTER IMPLEMENTATION OF CBS IN DCCBs • SUPPORT TO FLCS BY THEIR PARENT BANK
    • ISSUES IN FINANCIAL INCLUSION • LACK OF AWARENESS AMONGST PUBLIC • COORDINATED APPROACH FOR FINANCIAL LITERACY • OPENING OF ACCOUNTS TO BE FOLLOWED BY OTHER SERVICES TO ARREST DORMANCY • SUITABILITY OF PRODUCTS FOR CLIENTS • FINANCIAL SERVICES LIKE REMITTANCE, INSURANCE AND PENSION TO BE PUSHED
    • THANK YOU