Successfully reported this slideshow.
Your SlideShare is downloading. ×

Financial Inclusion Sep 27, 2021.pptx

Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Ad
Loading in …3
×

Check these out next

1 of 14 Ad

More Related Content

Recently uploaded (20)

Advertisement

Financial Inclusion Sep 27, 2021.pptx

  1. 1. Role of RBI in Financial Inclusion & Financial Literacy
  2. 2. https://forms.office.co m/r/xm1AVYQvbS
  3. 3. Main Functions  Monetary Authority:  Formulates, implements and monitors the monetary policy.  Objective: maintaining price stability while keeping in mind the objective of growth.  Regulator and supervisor of the financial system:  Prescribes broad parameters of banking operations within which the country's banking and financial system functions.  Objective: maintain public confidence in the system, protect depositors' interest and provide cost-effective banking services to the public.  Manager of Foreign Exchange  Manages the Foreign Exchange Management Act, 1999.  Objective: to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India.
  4. 4. Continue…  Issuer of currency:  Issues and exchanges or destroys currency and coins not fit for circulation.  Objective: to give the public adequate quantity of supplies of currency notes and coins and in good quality.  Developmental role  Performs a wide range of promotional functions to support national objectives.  Regulator and Supervisor of Payment and Settlement Systems:  Introduces and upgrades safe and efficient modes of payment systems in the country to meet the requirements of the public at large.  Objective: maintain public confidence in payment and settlement system  Related Functions  Banker to the Government: performs merchant banking function for the central and the state governments; also acts as their banker.  Banker to banks: maintains banking accounts of all scheduled banks.
  5. 5. Overview of FIDD
  6. 6. Financial Inclusion & Financial Literacy- Perspectives
  7. 7. The process of ensuring access to financial services, timely and adequate credit for vulnerable groups such as weaker sections and low-income groups at an affordable cost”. Financial Inclusion Index- RBI (March 2021)53.9
  8. 8. Understanding the excluded – Insights from Global Findex 2017  Access to Financial Services  Globally 1.7 billion adults unbanked (Half in Bangladesh, China, India, Indonesia, Mexico, Nigeria, Pakistan)*  Share of adults owning an account-69% (2014-62%, 2011-51%)*  Between 2014 and 2017, 514 million people obtained accounts.
  9. 9. Financial Inclusion -A Global Perspective Eliminating Extreme Poverty Reducing Hunger and promoting food security Achieving Good Health and Well-being Promoting Gender Equality Building resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation Full and productive employment and decent work Reducing income inequality within and among countries Seven of the seventeen United Nations Sustainable Development Goals (SDG) of 2030 view financial inclusion as a key enabler for achieving sustainable development worldwide by enhancing the quality of lives of poor and marginalized sections of the society
  10. 10. Financial Literacy- Perspective
  11. 11. Financial Literacy Financial Literacy is defined as a combination of financial awareness, knowledge, skills, attitude and behaviour necessary to make sound financial decisions and ultimately achieve individual financial well-being. According to the NCFE report of 2019 all India financial literacy is 27%. Rajasthan has financial literacy of 28%.
  12. 12. Financial Literacy • Why Bank account • Not to share account related information • Why Insurance • Risk & Return • Long term Financial goals. • Saving/investing in multiple options • Credit from formal financial institutions. • Timely payment of loans. • Inflation effect
  13. 13. Financial Literacy-Benefits •Promotes financial inclusion. •Saves from exploitation of money lenders. •Prevention of frauds. •Helps in making sound financial decisions. •Helps in Crisis.
  14. 14. Thank you

×