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How to achieve financial inclusion.....
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TOPIC: How to achieve financial inclusion.....

How to achieve financial inclusion..... 5 years, 8 months ago #278

  • poojad
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In order to compete countries like china we need to achieve financial inclusion but what are different ways in which we can achieve it. Indian government has launched some initiatives but they seems to be futile
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Re: How to achieve financial inclusion..... 5 years, 8 months ago #279

  • amolia
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wat is financial inclusion!? can u plz tell!

Re: How to achieve financial inclusion..... 5 years, 8 months ago #280

  • poojad
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Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low income segments of society. It means that every citizen in India should have access to banks, loan facility and other financial services offered...

Re: How to achieve financial inclusion..... 5 years, 8 months ago #281

RBI in of the steps taken to improve financial inclusion, has asked the leading banks in each district to draw a roadmap for ensuring that all villages with a population of over 2,000 will have access to financial services through a banking outlet, not necessarily a bank branch, by March 2012.Banks will have to harness technology and innovate low cost business models to accomplish this.

Re: How to achieve financial inclusion..... 5 years, 8 months ago #282

When we are talking about financial inclusion, why are we concentrating only on supply side factors. We are asking banks to provide roadmaps, open branches in rural areas but have thought about any of the demand side factors. Do our people understand what is finacial inclusion. we will have to change the mindset of the people by explaining them the need of financial services. We will have to recognize that financial literacy and education should be developed hand in hand with improving access to financial services.

Re: How to achieve financial inclusion..... 5 years, 8 months ago #289

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Financial literacy is a good point...Inclusion comes with potential dangers. Recent experiences in India in the microfinance arena show that poor people take loans that they have no capacity to service. Farmers have also taken loans that they have not been able to repay. Many have been driven to suicide because of debt problems. Unless financial literacy goes hand in hand with financial inclusion, there could be a dangers ahead. The mortgage crisis in the U.S proved that we did not have a handle on how poorly educated consumers taking the loans, and agents offering the loans, really were...

Re: How to achieve financial inclusion..... 5 years, 8 months ago #291

One more example can be farmer suicides....In the recent times we have seen many farmer suicides. They could not bear the burden of debt. These farmers have access to loans, but if their crop fails, they have no means to repay them. Here comes the importance of agriculture insurance. We have to make farmers financially literate and make them understand the importance of mitigating financial risks. Mere financial inclusion will not help....
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