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Launching the "State of the Agent Network" report here, government's Chief Economic Advisor Arvind Subramanian said that providing essential goods and services to citizens was only the first policy step towards financial inclusion.
"One of the aims of the government policy is ensuring provision of essential goods and services. That is, of course, the first step to develop fiscal provision into something real and meaningful," Subramanian said.
"You have gas cylinders but you need consistent gas off-take; you have bank accounts but you need to make genuine inclusion; your toilets are built, but are they used? I think that's the next stage we need to work on," he said.
"That is why, the banking correspondents story needs more work," he said.
According to the report released by MicroSave and Bill and Melinda Gates Foundation, while women hold about 45 per cent of the accounts opened under the Prime Minister's flagship Jan-Dhan Yojana, only about 8 per cent of the banking agents in India are women.
"We need more women agents if we are to sustainably offer services to women clients, especially in rural areas," the report said.
It added that average daily transactions points had also increased by 140 per cent from 13 in 2015 to 31 in 2017.
"Government subsidy payouts and enrolment into government schemes have helped drive this number," the report read.
"Agents' median earnings and profits in 2017 ($93 and $31, respectively) have more than doubled from 2015 levels. This is the highest amongst Asian countries (Bangladesh, Indonesia and Pakistan)," it added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)