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Financial inclusion: Niti pitches for district-level mechanism

Press Trust of India  |  New Delhi 

The Aayog has made a case for setting up an effective enforcement mechanism at the district level to promote financial inclusion.

In its presentation made at the conference on transformation of aspirational districts last week, it suggested the creation of a fixed regulatory framework for QR codes.

The think-tank said there should be zero charges for transfer to accounts through BHIM/

Financial inclusion requires an effective enforcement mechanism at the district level, according to the presentation which was released today.

To promote transaction, it also suggested citizen-transactions through means only and ensuring each becomes a 'panchayat' that has an ATM/correspondent.

The presentation noted that tremendous progress in the field of payments and Payments will provide last mile connectivity and can be a game-changer.

Increasing awareness and financial literacy is required and there is also need to increase ratio of settlement against claims, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, January 11 2018. 22:35 IST