Abstract Final
2
Financial Inclusion &Stability PRIYA SAHNI EMAIL: [email protected] (M): 8109151645 The essence of financial inclusion is in trying to e nsure that a range of appropriate financial services is available to every individual and en abling them to understand and access those services. 1.Creating the platform for inculcating the habit to save money 2. providing the formal credit avenues 3.Plug gaps & leaks in public subsidies & welfare programme . n order to achieve a c omprehensive financial inclusion! a slew of initiatives have been taken by "overnment of ndia! #$ and %$#'. (o me of the important initiatives include) (*"+$ank ,inkage programme! opening of %o -rills ccounts! mobile banking! isan Credit Cards /CC0 P#'*% %T# % '*% 4% etc. . The 5uestion now is do we can either continue with our traditional ways of ensuring financial inclusion or look at new methods a nd opportunities that is available to us because of technology ndia has made rapid strides in technolog y and it is important to now look at financial inclusion through the prism of the digital economy. 6se of technology7 #ecogni8ing that technology has the potential to address the issues of outreach and credit delivery in rural and remote areas in a viable manner!banks have been advised to make effective use of information and co mmunications technology /CT0! to provide doorstep banking services through the $C model where the accounts can be operated by even illiterate customers by using biometrics! thus ensuring the security of transactions and enhancing confidence in the banking system. $enefits of -inancial nclusion -inancial inclusion enables good financial decision making through financial literacy and 5ualified advice as also access to financial services for all! particularly the vulnerable groups such as weaker sections! minorities! migrants! elderly! micro entrepreneurs and low income groups at an affordable cost so as to enable them to
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7/17/2019 Abstract Final
http://slidepdf.com/reader/full/abstract-final-5691032a238e4 1/2
Financial Inclusion &Stability
PRIYA SAHNIEMAIL: [email protected]
(M): 8109151645
The essence of financial inclusion is in trying to ensure that a range of appropriate financial
services is available to every individual and enabling them to understand and access those
services.
1.Creating the platform for inculcating the habit to save money
2. providing the formal credit avenues
3.Plug gaps & leaks in public subsidies & welfare programme .
n order to achieve a comprehensive financial inclusion! a slew of initiatives have been taken by
"overnment of ndia! #$ and %$#'. (ome of the important initiatives include) (*"+$ank
,inkage programme! opening of %o -rills ccounts! mobile banking! isan Credit Cards /CC0
P#'*% %T# % '*% 4% etc.
.
The 5uestion now is do we can either continue with our traditional ways of ensuring financialinclusion or look at new methods and opportunities that is available to us because of technology
ndia has made rapid strides in technology and it is important to now look at financial inclusion
through the prism of the digital economy.
6se of technology7 #ecogni8ing that technology has the potential to address the issues of
outreach and credit delivery in rural and remote areas in a viable manner!banks have been
advised to make effective use of information and communications technology /CT0! to provide
doorstep banking services through the $C model where the accounts can be operated by even
illiterate customers by using biometrics! thus ensuring the security of transactions and enhancing
confidence in the banking system.
$enefits of -inancial nclusion
-inancial inclusion enables good financial decision making through financial literacy and
5ualified advice as also access to financial services for all! particularly the vulnerable groups
such as weaker sections! minorities! migrants! elderly! micro entrepreneurs and low income
groups at an affordable cost so as to enable them to
7/17/2019 Abstract Final
http://slidepdf.com/reader/full/abstract-final-5691032a238e4 2/2
a0 manage their finances on day to day basis confidently! effectively and securely)
b0 Plan for the future to protect themselves against short term variations in income and
e9penditure and for wealth creation and gaining from financial sector developments) and
c0 deal with financial distress effectively thereby reducing their vulnerability to the une9pected.
