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Ufai   Five Goals  2013
Ufai   Five Goals  2013
Ufai   Five Goals  2013
Ufai   Five Goals  2013
Ufai   Five Goals  2013
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Ufai Five Goals 2013

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Published in: Economy & Finance, Business
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  • 1. Sanjay Bhargava [email_address] April 2009
  • 2. Five Goals for 2013
    • Every Indian individual and institution will have a bank account
    • 300000 crores will be available for unsecured lending at 15% or less to weaker sections
    • Cash transactions will reduce by 50% and be replaced by electronic transfers
    • Every Indian will have a unique national ID and a reputation score such that there are no loan addicts and systemic risk is minimal
    • Transactions will be highly secure and easy to use by honest people and will be tough for criminals and terrorists
  • 3. How much will this Cost GOI
    • A Negative Amount:
    • In Telecom GOI has made money and we are near universal Telecom Access . GOI can achieve the five goals for 2013 and make money just as it did during the telecom revolution.
  • 4. Innovation
    • ATM’s , Plastic cards were key innovations that made retail banking possible
    • The new technologies today make universal financial access possible
  • 5. Action Steps for MOF/RBI
    • Study whitepapers to see that the five goals for 2013 are like landing a man on the moon and not like boiling the ocean
    • Build a national multi partisan consensus and have an empowered mission headed by a capable and driven individual
    • Declare five goals for 2013 a national priority and invite proposals to license circles to the highest qualified bidders

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