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UFAI Five Goals 2013


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A very short five slide presentation on how every person in India can have access and use financial services as one more weapon in the fight against poverty and despair

Published in: Economy & Finance, Business
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UFAI Five Goals 2013

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