financial literacy_case of india_gpf 2011
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financial literacyTRANSCRIPT
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Financial Literacy & Inclusion - The Indian Way
BIPIN NAIRASSISTANT GENERAL MANAGERRURAL PLANNING & CREDIT DEPARTMENT
AFI GPF Mexico 2011
AFI GPF Mexico 2011
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India- Some factsAFI GPF Mexico 2011
AFI GPF Mexico 2011
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Policy InitiativesBank led model adopted to achieve planned, sustained and structured financial inclusion Banks mandated to provide access to financial services in nearly 74000 villages with population over 2000 by March 2012.Three year Board Approved Financial Inclusion Plan by banks to be rolled out by March 2013 for extending financial unbanked villages.Business Correspondent/ Business Facilitator Model - Availability of Door-Step banking services to all 600 thousand villages in the country- Next 3-5 yearsRegulatory norms on KYC relaxed.Simplified branch authorisation. Mandatory opening of 25 % of new branches by banks in unbanked rural centers.Include criteria regarding Financial Literacy and Inclusion in performance evaluation of the staff.Availability of minimum four banking products under Financial Inclusion is being ensured .
AFI GPF Mexico 2011
AFI GPF Mexico 2011
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Policy InitiativesNearly 250 Outreach Programs involving participation of senior executives from RBI conducted across the country. Nearly 200 remote unbanked villages adopted by RBI for transformation into model villages characterized by 100% financial inclusion. State Governments to include Financial Literacy as part of the school curriculum.Issuance of unique identification numbers (AADHAR) to beneficiaries for rolling out social security payments through the banking channel.
AFI GPF Mexico 2011
AFI GPF Mexico 2011
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Project Financial LiteracyAFI GPF Mexico 2011
AFI GPF Mexico 2011
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ACHIEVEMENTS under FINANCIAL INCLUSIONAFI GPF Mexico 2011Total Number of villages covered 99840Villages covered through branches 22684Villages covered through BCs 76801Villages covered through other modes 355Number of No Frill Accounts 74.39 mioNumber of Agricultural Credit Cards 22.49 mioNumber of General Credit Cards0.95 mio
AFI GPF Mexico 2011
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Way Forward -Coordinated National Strategy
The key is establishing an appropriate Business Delivery Model through the involvement of all stakeholders to make Financial Inclusion a reality.A National Level Strategy for Financial Literacy is the need of the hour.Coordination with Central and State Governments as well as with Global Organisations.
AFI GPF Mexico 2011
AFI GPF Mexico 2011
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Thank you.
[email protected] GPF Mexico 2011
AFI GPF Mexico 2011
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