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What is Financial Inclusion
- A basic no-frills banking account for making and receiving payments
- Saving products (including investment and pension)
- Simple credit products and overdrafts linked with no-frills accounts
- Remittance, or money transfer facilities
- Micro insurance (life) and non-micro insurance (life and non-life)
- Micro pension
Latest Updates on Financial Inclusion
In a series of post on X, Puri quoted data to counter Kharge's assertions saying the Modi government's inclusive development policies will make the country a developed nation by 2047
Self-regulatory organisation status for business correspondents will improve governance, bring in investments
The business correspondent channel for financial inclusion is calling for a pay raise, investments and an end to penalties
Model is critical for financial inclusion but commissions have not been revised 'in a decade'
The policy is designed to address the specific requirements of individuals with disabilities of 40% or more, including physical, sensory, or cognitive impairments
The objective is to build a public infrastructure for credit-related information, and the right information can be made available by the NFIR to lending agencies
Number of Indians with an account in a formal financial institution increased to 77% in 2021
On June 25, the DFS asked public sector banks (PSBs) to revive inoperative accounts under the Pradhan Mantri Jan Dhan Yojana
"The value of the index for March 2024 stands at 64.2 vis--vis 60.1 in March 2023, with growth witnessed across all sub-indices," the Reserve Bank of India (RBI) said in a statement on Tuesday
As part of aspirational goals for RBI's centenary, referred to as RBI@100, he said, among these targets are deepening financial inclusion and expanding credit availability
From Monetary Policy Framework review to safeguards against payment frauds & rupee internalisation, RBI lists 14 major goals
In March 2020, these states had an asset base of Rs 16,446 crore as compared to Rs 40,324 crore in March this year
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Airtel Payments Bank is dominant in rural markets, he said, adding that "rural and urban combined, we are now opening a million bank accounts a month"
Going ahead, a customer can take a wad of notes to a CRM and use UPI to activate the process of depositing it rather than insert their debit card into the slot
The revamped scheme also introduces more flexible financing options, emphasising subsidies on reimbursement basis, over traditional credit-linked approach
Some arrangements between card networks and issuers are 'not conducive' for customers, it says
Per capita investment is less than Rs 10,000 in eight of them
Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion
From Bihar govt launching a probe into Tejashwi Yadav's dept to Intel discussing financial support with US govt, catch all the latest updates from around the world