UFAI Five Goals 2013

Sanjay Bhargava [email_address] April 2009

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

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.

Innovation
ATM’s , Plastic cards were key innovations that made retail banking possible
The new technologies today make universal financial access possible

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

UFAI Five Goals 2013

by Sanjay Bhargava on Apr 07, 2009

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UFAI Five Goals 2013 — Presentation Transcript