The document discusses financial inclusion in India. It provides background on the meaning of financial inclusion and its importance in India. Some key points:
- Financial inclusion refers to ensuring access, availability, and usage of formal financial services by all members of an economy.
- It facilitates efficient resource allocation, helps manage finances, and promotes savings, investment, and economic growth.
- Only 60% of India's rural/urban population has a bank account and credit access is low.
- The RBI adopted a bank-led model using non-bank entities to expand access through new branches, business correspondents, and relaxed KYC norms.
- The Nachiket Mor Committee's 2014 recommendations included
With the help of this presentation you will be able to know the financial inclusion status in india. Stats from RBI and Inclusix index also had been included in presentation.
This presentation is based on Financial Inclusion, Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players.
Financial inclusion is a buzzword now and has attracted the global attention in the recent past. As the approach of 12th five year plan (2012-2017) is faster, sustainable and more inclusive growth, the issue of financial inclusion is emerging as the new paradigm of economic growth. Financial inclusion plays a major role in driving a way the poverty from the country. The main focus of financial inclusion in India is to promote sustainable development and generating employment in rural areas for the rural population. C.Rangarajan Committee (2008) defined financial inclusion as, “The process of access to financial services, and timely and adequate credit needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.” The purpose of financial inclusion is to provide equitable opportunities to every individual to avail the facility of formal financial channels for better life, better living and better income. It can be described as the provision of affordable financial services, viz., access to payments and remittance facilities, savings, loans and insurance services by the formal financial system to those who are excluded. Though there are few people who are enjoying all kinds of services from savings to net banking, but still in our country around 40% of people lack access to even basic financial services like savings, credit and insurance facilities. Financial inclusion is the road that India needs to travel towards becoming a global player. This paper attempts to study the overview of financial inclusion in India.
With the help of this presentation you will be able to know the financial inclusion status in india. Stats from RBI and Inclusix index also had been included in presentation.
This presentation is based on Financial Inclusion, Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players.
Financial inclusion is a buzzword now and has attracted the global attention in the recent past. As the approach of 12th five year plan (2012-2017) is faster, sustainable and more inclusive growth, the issue of financial inclusion is emerging as the new paradigm of economic growth. Financial inclusion plays a major role in driving a way the poverty from the country. The main focus of financial inclusion in India is to promote sustainable development and generating employment in rural areas for the rural population. C.Rangarajan Committee (2008) defined financial inclusion as, “The process of access to financial services, and timely and adequate credit needed by vulnerable groups such as weaker sections and low income groups at an affordable cost.” The purpose of financial inclusion is to provide equitable opportunities to every individual to avail the facility of formal financial channels for better life, better living and better income. It can be described as the provision of affordable financial services, viz., access to payments and remittance facilities, savings, loans and insurance services by the formal financial system to those who are excluded. Though there are few people who are enjoying all kinds of services from savings to net banking, but still in our country around 40% of people lack access to even basic financial services like savings, credit and insurance facilities. Financial inclusion is the road that India needs to travel towards becoming a global player. This paper attempts to study the overview of financial inclusion in India.
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” in a fair and transparent manner by mainstream institutional players”
The Committee on Financial Inclusion
(Chairman: Dr. C. Rangarajan, 2008)
In advanced economies, Financial Inclusion is more about the knowledge of fair and transparent financial products and a focus on financial literacy.
In emerging economies, it is a question of both access to financial products and knowledge about their fairness and transparency.
100 marks topics for banking and insurance projectsbanking-insurance
Complete topics for 100 marks project for banking and insurance
http://www.managementparadise.com/forums/banking-insurance-final-100-marks-projects/16283-topics-100-marks-project-banking-insurance.html
What is a regional rural bank ? What is the shareholding pattern of RRB? What are its role and functions ? The organizational structure of RRBs. List and objectives of RRBs. It is a presentation presented by 5 .
This article analyzes the impact of Microfinance in the different parts of the world including India, Malaysia, Nepal, Bangladesh, Maldives, Africa and others.
In order to access the level of financial inclusion in New Delhi, a survey was conducted in area of Govindpuri, Kalkaji, CR park (South Delhi) through a questionnaire.
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” in a fair and transparent manner by mainstream institutional players”
The Committee on Financial Inclusion
(Chairman: Dr. C. Rangarajan, 2008)
In advanced economies, Financial Inclusion is more about the knowledge of fair and transparent financial products and a focus on financial literacy.
In emerging economies, it is a question of both access to financial products and knowledge about their fairness and transparency.
100 marks topics for banking and insurance projectsbanking-insurance
Complete topics for 100 marks project for banking and insurance
http://www.managementparadise.com/forums/banking-insurance-final-100-marks-projects/16283-topics-100-marks-project-banking-insurance.html
What is a regional rural bank ? What is the shareholding pattern of RRB? What are its role and functions ? The organizational structure of RRBs. List and objectives of RRBs. It is a presentation presented by 5 .
This article analyzes the impact of Microfinance in the different parts of the world including India, Malaysia, Nepal, Bangladesh, Maldives, Africa and others.
In order to access the level of financial inclusion in New Delhi, a survey was conducted in area of Govindpuri, Kalkaji, CR park (South Delhi) through a questionnaire.
Financial Inclusion in India - FIIB Finance Conclave 2013Dhruv Mahajan
The presentation includes everything about Financial Inclusion in India, the history of Financial Inclusion, meaning and objectives of Financial Inclusion, reasons for financial exclusion, measures taken by the government and the road ahead.
Participate in a discussion regarding financial literacy program components designed for your community as well as an introduction to a proven financial literacy curricula - MoneySmarts.
Financial inclusion – objectives - Micro finance as a Development Tool - The Indian Experience - Evolution and Character of micro finance in India - Micro finance Delivery Methodologies and models- Legal and Regulatory Framework- Impact of Micro finance - Revenue Models of Micro finance- Profitability, Efficiency and Productivity Emerging issues
Starting of Financial Inclusion in India
Banking and financial services at an affordable cost to the vast sections of disadvantaged and low income groups.
Important step towards inclusive growth
Micro-Finance has huge potential to increase Financial Inclusion. This presentation covers the Basics of Micro-finance, its usefulness in improving Financial inclusion and problems the sector faced in the past.
India’s economic growth rates higher than most developed countries in recent years, a
majority of the country’s population still residue unbanked. Financial Inclusion is a relatively
new socio-economic concept in India that aspire to change this dynamic by providing
financial services at affordable costs to the underprivileged, who might not otherwise be
aware of or able to afford these services. Global trends have revealed that in order to achieve
inclusive development and growth, the expansion of financial services to all sections of society
is of utmost importance. As a whole, financial inclusion in the rural as well as financially
backward pockets of cities is a win-win opportunity for everybody involving – the
banks/NBFC’s intermediaries, and the left-out urban population. Banks will handle core
infrastructure and services while intermediaries known as Business Correspondents (BC’s)
will be the executors and act as the face of these banking & financial institutions in dealing
with end-users. Therefore, it is assumed that financial inclusion can initiate the next
revolution of growth and prosperity. In the 21st century, India has been pulling all the right
levers to advance financial inclusion and economic citizenship by channelling its own
transactions to lubricate the system. India’s journey towards economic ascension relies on
how the 65% unbanked population of India (conservative 2012 estimate by World Bank) is
enabled with financial infrastructure.
A study of correlation among major stock market indices of the world (only re...Gagan Varshney
Portfolio means a mix of assets (both real and financial) invested in and held by an investor. Diversification is the act of holding many securities to lessen risk.
The age-old wisdom about not putting ―all your eggs in one basket‖ applies very much in the case of portfolios. Portfolio risk (generally defined as the standard deviation of returns) is not the weighted average of the risk (standard deviation) of individual assets in the portfolio. This gives rise to opportunities to eliminate the risk of assets, at least partly, by combining risky assets in a portfolio.
This study aims to find out the degree of existence of such opportunities which can minimise the portfolio risk. It tries to answer the question,
―Can there be such opportunity present in the International Equity market which is not corrected by arbitragers?‖
―Are diversification benefits still to be found in international investing?‖
This study also tries to find out degree of interdependence among world‘s major stock exchanges. Pearson Correlation Coefficient has been used to find out the relation between the monthly returns of world‘s major stock indices.
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
what is the future of Pi Network currency.DOT TECH
The future of the Pi cryptocurrency is uncertain, and its success will depend on several factors. Pi is a relatively new cryptocurrency that aims to be user-friendly and accessible to a wide audience. Here are a few key considerations for its future:
Message: @Pi_vendor_247 on telegram if u want to sell PI COINS.
1. Mainnet Launch: As of my last knowledge update in January 2022, Pi was still in the testnet phase. Its success will depend on a successful transition to a mainnet, where actual transactions can take place.
2. User Adoption: Pi's success will be closely tied to user adoption. The more users who join the network and actively participate, the stronger the ecosystem can become.
3. Utility and Use Cases: For a cryptocurrency to thrive, it must offer utility and practical use cases. The Pi team has talked about various applications, including peer-to-peer transactions, smart contracts, and more. The development and implementation of these features will be essential.
4. Regulatory Environment: The regulatory environment for cryptocurrencies is evolving globally. How Pi navigates and complies with regulations in various jurisdictions will significantly impact its future.
5. Technology Development: The Pi network must continue to develop and improve its technology, security, and scalability to compete with established cryptocurrencies.
6. Community Engagement: The Pi community plays a critical role in its future. Engaged users can help build trust and grow the network.
7. Monetization and Sustainability: The Pi team's monetization strategy, such as fees, partnerships, or other revenue sources, will affect its long-term sustainability.
It's essential to approach Pi or any new cryptocurrency with caution and conduct due diligence. Cryptocurrency investments involve risks, and potential rewards can be uncertain. The success and future of Pi will depend on the collective efforts of its team, community, and the broader cryptocurrency market dynamics. It's advisable to stay updated on Pi's development and follow any updates from the official Pi Network website or announcements from the team.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins on Bitmart crypto exchangeDOT TECH
Yes. Pi network coins can be exchanged but not on bitmart exchange. Because pi network is still in the enclosed mainnet. The only way pioneers are able to trade pi coins is by reselling the pi coins to pi verified merchants.
A verified merchant is someone who buys pi network coins and resell it to exchanges looking forward to hold till mainnet launch.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
If you are looking for a pi coin investor. Then look no further because I have the right one he is a pi vendor (he buy and resell to whales in China). I met him on a crypto conference and ever since I and my friends have sold more than 10k pi coins to him And he bought all and still want more. I will drop his telegram handle below just send him a message.
@Pi_vendor_247
Empowering the Unbanked: The Vital Role of NBFCs in Promoting Financial Inclu...Vighnesh Shashtri
In India, financial inclusion remains a critical challenge, with a significant portion of the population still unbanked. Non-Banking Financial Companies (NBFCs) have emerged as key players in bridging this gap by providing financial services to those often overlooked by traditional banking institutions. This article delves into how NBFCs are fostering financial inclusion and empowering the unbanked.
how can i use my minded pi coins I need some funds.DOT TECH
If you are interested in selling your pi coins, i have a verified pi merchant, who buys pi coins and resell them to exchanges looking forward to hold till mainnet launch.
Because the core team has announced that pi network will not be doing any pre-sale. The only way exchanges like huobi, bitmart and hotbit can get pi is by buying from miners.
Now a merchant stands in between these exchanges and the miners. As a link to make transactions smooth. Because right now in the enclosed mainnet you can't sell pi coins your self. You need the help of a merchant,
i will leave the telegram contact of my personal pi merchant below. 👇 I and my friends has traded more than 3000pi coins with him successfully.
@Pi_vendor_247
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
Financial inclusion in india
1. Financial Inclusion
in India
Presented By
Gagan Varshney (12MBA-08)
And Others
Department of Business Administration
Faculty of Management Studies and Research
Aligarh Muslim University
Under the supervision of
Dr. Saboohi Nasim (Asst Professor)
2. Contents
• Introduction to Financial Inclusion
• Meaning
• FI in India : History
• Need of FI in India
• RBI’s Approach toward Financial Inclusion
• Financial Inclusion Vs Financial Literacy
• Set up of Institutional Mechanism by RBI in India
• RBI’s Policy Initiatives toward FI
• Recommendations of Nachiket Mor Committee
• Critical Review of the Recommendations
3. Meaning
Financial inclusion refers to a process that ensures
the ease of access, availability and usage of the
formal financial system for all members of an
economy.
In Indian Context:
“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.”
4. Important Milestones
• 1904 Setting up of Rural Cooperatives
• 1960 Social control of Banks
• 1969 Nationalization of 14 major Commercial Banks
• 1975 Setting up of Regional Rural Banks
• 1990s Self Help Group
• 2005 RBI advised banks to open no frill accounts
• 2006 RBI allowed BC/BF to act as agents of banks
• Sept. 2010 RBI allowed for - profit companies (excluding NBFC) to
act as Business Correspondent
• 2011 National Payment Corporation of India (NPCI) launched
Interbank Mobile Payment System IMPS)
5. History
• The Reserve Bank of India setup a commission (Khan Commission) in 2004 to look
into Financial Inclusion and the recommendations of the commission were
incorporated into the Mid-term review of the policy (2005-06).
• In the report RBI exhorted the banks with a view of achieving greater Financial
Inclusion to make available a basic "no-frills" banking account.
• In India, Financial Inclusion was first introduced in 2005.
• In January 2006, the Reserve Bank permitted commercial banks to make use of the
services of non-governmental organizations, micro-finance institutions and other
civil society organizations as intermediaries for providing financial and banking
services.
• emphasizes on the access to basic formal financial services at an affordable cost in
a sustainable manner for the vulnerable people (NABARD, 2008).
• The bank asked the commercial banks in different regions to start a 100% Financial
Inclusion campaign on a pilot basis
6. Need of Financial Inclusion
An inclusive financial system has several merits
• It facilitates efficient allocation of productive resources, and
thus can potentially reduce the cost of capital.
• Easy access to appropriate financial services, which can
significantly improve the day-to-day management of
finances.
• help in reducing the growth of informal sources of credit
• an all-inclusive financial system enhances efficiency and
welfare by providing avenues for secure and safe saving
practices and by facilitating a whole range of efficient
financial services.
7. Need of Financial Inclusion
Some Facts about FI in India,
• 90% of small businesses have no links with formal financial institutions.
• About 60% of the rural and urban population does not even have a
functional bank account.
• Bank-credit to GDP ratio in the country, as a whole, is a modest 70%.
• In Bihar, Bank-credit to GDP ratio is even lower, at 16%.
• Saving as a proportion to GDP has fallen from 36.8% in 2007-08 to 30.8%
in 2011-12
-source: Nachiket Mor Committee’s report on FI
8. Measures for Financial Inclusion
• Providing basic banking services to population without
discrimination
• Making the banking system self sustaining
• leads to increase in savings, investment and thereby, spurs the
processes of economic growth
• Increasing the habit of saving in lower income group
• creates avenues of formal credit to the unbanked population
• Increasing entrepreneurial spirit
• Making available the formal remittance facilities to lower income
group
10. RBI’s Approaches to Fi. Inc.
• Approach towards FI by focusing on both the
demand and supply side constraints.
• To Increase Demand = Financial Literacy
– i.e. creating a demand for the financial products and
services by making people aware about their easeness
to use & its advantage.
• To Increase Supply = Financial Inclusion
– i.e. for creating access to the financial services
11. RBI’s Approaches to Fi. Inc.
• Adopted a bank-led model with non-bank entities
• Encouraged banks to pursue FI as a commercial activity
• Encouraged banks to leverage technology while keeping the cost of
providing financial services to the minimum.
• Banks should adopt innovative business models and delivery
channels to expand their FI efforts.
• Considers financial Literacy is an important adjunct
• Create a conducive regulatory environment and providing
institutional support to banks in their FI efforts
12. Institutional Mechanism by RBI
• Separate Technical Group on Financial Inclusion and
Financial Literacy under the aegis of FSDC (Financial
Stability and Development Council)
• RBI has constituted a Financial Inclusion Advisory
Committee (FIAC) under the Chairmanship of a Deputy
Governor from RBI.
• State Level Bankers Committees (SLBC) in all the states.
• Lead District Managers in all the 659 districts
• About 700 financial literacy centres have been set up by
banks
• Rural Self-Employment Training Institutes (R-SETI)
13. RBI Policy Initiatives
• Branch expansion in rural areas
– Banks need not to require prior permission to open branches in
centres with population less than 1 lakh
– Banks have been mandated to open at least 25 per cent of their new
branches in unbanked rural centres
• Agent Banking - Business Correspondent/ Business Facilitator
Model
– RBI permitted banks to utilise the services of intermediaries
– This model allows banks to do ‘cash in - cash out’ transactions at a
location much closer to the rural population,
• Relaxed KYC norms
– Small accounts can be opened with self certification in the presence of
bank officials
– RBI has allowed ‘Aadhaar’ card
14. RBI Policy Initiatives
• Roadmap for Banking Services in unbanked Villages
– In 1st phase, banks were advised to draw up a roadmap for
villages having a population of over 2,000
– In 2nd phase, Roadmap has been prepared for covering
remaining unbanked villages i.e. with population less than 2000
• Bouquet of Financial services
– To meet all customer needs, banks have to offer a minimum of
four basic products
• A savings cum overdraft account
• A pure savings account
• A remittance product to facilitate EBT and other remittances,
• Entrepreneurial credit products like GCC, KCC
15. Committee on FI
The RBI appointed a Committee on
Comprehensive Financial services for Small
Businesses and Low-Income Households under
the Chairmanship of Shri Nachiket Mor, member
on the Central Board of Directors, RBI in the
month of Sep 2013.
16. Motive of the Panel
• To frame a clear and detailed vision for financial
inclusion and financial deepening in India.
• Designing principles for achievement of financial
inclusion and financial deepening across the
country.
• Development of comprehensive framework to
monitor the progress of financial inclusion.
18. RECOMMENDATIONS OF
NACHIKET MOR COMMITEE
• At its core the Committee’s recommendations argue that in order to
achieve the vision of full financial inclusion and financial deepening in a
manner that enhances systemic stability, there is a need to move away
from a limited focus on any one model to an approach where multiple
models and partnerships allowed to emerge, particularly between national
full-service banks, regional banks of various types, non-bank finance
companies, and financial markets.
• In the spirit of the RBI’s approach paper on differentiated Banks, the
Committee recommends that the RBI may also seriously consider licensing,
with lowered entry barriers but otherwise equivalent treatment, more
functionally focussed banks like Payments Banks, Wholesale Consumer
Banks, and Wholesale Investment Banks.
19. SOME IMPORTANT SUGGESTIONS
• By 1 January 2016 each resident of India, above
the age of 18, would have an individual, full-
service, safe, and secure electronic bank account
• Every Indian resident should be issued an account
at the time of receiving Aadhaar number by a
bank.
• Aadhaar card should be used automatically to
open a bank account.
20. • Facility for withdrawal, payment and deposit should be
set up within a 15-minutes walking distance anywhere
in the country.
• ‘Payments Banks’ should be set up to “provide
payment services and deposit products to small
businesses and low-income households” with a
maximum balance of Rs 50,000 per customer. These
banks can be set up with minimum capital requirement
of Rs 50 crore, one-tenth of the Rs 500 crore required
for full-service bank.
21. • Interest subsidies and loan waivers should be
abolished. Instead govt. should transfer benefits
directly to farmers.
• Statutory liquidity ratio has outlived its utility for both
Banks and NBFCs and eventually needs to be removed.
• Banks should do away with the system of lending
below their respective base rates to the farm sector.
22. • All type of Insurance products should be made
available to the poor at reasonable prices.
• Bank interest rates should be over and above the
prevailing rate of Wholesale Inflation
• NBFCs (non-banking financial companies) should
be appointed as agents of banks and their
services should be taken in increasing financial
inclusion