financial incusion

by Vijay Mallik Raj on Friday 20 January 2012, 12:24 PM | Category: Miscellaneous| View: 1569 views
 
 
Advertisements
 

.

Across the globe, financial sector reforms that promote financial inclusion are increasingly at the core of policymakers' agendas. In India in order to foster financial inclusion the reserve bank of India made several initiatives, where the banking sector in India take the prominent role of providing a broad array of services to the underprivileged

Sections like marginal farmers, landless labours and the socially excluded groups.

 

Financial inclusion denotes delivery of financial services at an affordable cost to the vast sections of the disadvantaged and low-income groups. The various financial services include credit, savings, insurance and payments and remittance facilities.

 

Financial inclusion has become a buzzword internationally – even in developed financial

markets there are concerns about those excluded from the banking system. The barriers

to access to formal banking system have been identified as relating to culture, education

(especially financial literacy), gender, income and assets, proof of identity, remoteness of residence, and so on. Efforts are being made by the authorities- especially banking regulators to improve access to affordable financial services through financial education,

leveraging technology and generating awareness in order to create enabling conditions

such that markets become more open, more competitive, affordable and inclusive

 

Fully 2.5 billion of the world's adults don't use formal banks or semiformal microfinance institutions to save or borrow money, our research finds. Nearly 2.2 billion of these unserved adults live in Africa, Asia, Latin America, and the Middle East. Unserved, however, does not mean unservable. Financial development and improved access to credit tends not only to accelerate economic growth but to lower household poverty and inequality. For poor households, credit is not the only, or in many cases the priority, financial service they need: good savings and payments (domestic as well as international) services and insurance may rank higher

Advertisements
Print-Friendly Version Email to a Friend
 
Related to financial incusion
 
 
 
 
 
 
STATS
 
Total articles: 7587
    Total Categories: 22
    Updated in Last Week: 0
LOGIN
 
   Login Id
   Password
  Forgot Password?
    
   
SEARCH ARTICLE
 
  Enter Keywords
 
CATEGORIES
 
    Banking and Finance
    Campus Articles
    Economy
INVITE FRIENDS
 
Invite your Friends, your Colleagues, your Group Members, your Seniors, your Team mates...and others.
 
 
Advertisements


 
spacer gif
Management Paradise
spacer gif
arrow gif About Us
Press
Jobs
MBA Projects
Kartik Raichura
spacer gif
spacer gif
spacer gif
Legal
spacer gif
spacer gif Terms & Conditions
spacer gif Privacy Policy
spacer gif Disclaimer
spacer gif Copyrights
spacer gif Contact Us
spacer gif
spacer gif
spacer gif
Help
spacer gif
spacer gif Zeitgeist
Support
FAQs
Tour
Feedback
Our Network

MBA B School Blog

MBA Buy Entrance Exam Forms

MBA BMS Blog

MBA MBA Blog

MBA BMM Network

Follow
       
   

 

Copyright 2004 - 2019 Management Paradise.