Business Standard
What is Financial Inclusion

Financial Inclusion

About Financial Inclusion

What is Financial Inclusion

Financial inclusion is a method of offering banking and financial services to individuals. It aims to include everybody in society by giving them basic financial services regardless of their income or savings. It focuses on providing financial solutions to the economically underprivileged. The term is broadly used to describe the provision of savings and loan services to the poor in an inexpensive and easy-to-use form. It aims to ensure that the poor and marginalised make the best use of their money and attain financial education. With advances in financial technology and digital transactions, more and more startups are now making
...
Read More

Latest Updates on Financial Inclusion

Boots on the ground: Businesses correspondent model needs mending

The business correspondent channel for financial inclusion is calling for a pay raise, investments and an end to penalties

Image
Updated On : 22 Sep 2024 | 10:42 PM IST

Group representing business correspondents seeks raise, writes to govt

Model is critical for financial inclusion but commissions have not been revised 'in a decade'

Image
Updated On : 20 Sep 2024 | 8:35 AM IST

Star Health introduces braille insurance policy for visually impaired

The policy is designed to address the specific requirements of individuals with disabilities of 40% or more, including physical, sensory, or cognitive impairments

Image
Updated On : 05 Sep 2024 | 1:27 PM IST

Bill for NFIR likely to be introduced in next session, says DEA Secretary

The objective is to build a public infrastructure for credit-related information, and the right information can be made available by the NFIR to lending agencies

Image
Updated On : 28 Jul 2024 | 3:38 PM IST

In India's goal of financial inclusion, banks make 'remarkable progress'

Number of Indians with an account in a formal financial institution increased to 77% in 2021

Image
Updated On : 26 Jul 2024 | 9:44 AM IST

Increase participation in financial inclusion schemes: FinMin to pvt banks

On June 25, the DFS asked public sector banks (PSBs) to revive inoperative accounts under the Pradhan Mantri Jan Dhan Yojana

Image
Updated On : 09 Jul 2024 | 10:09 PM IST

Financial inclusion index rises with growth across all segments, says RBI

"The value of the index for March 2024 stands at 64.2 vis--vis 60.1 in March 2023, with growth witnessed across all sub-indices," the Reserve Bank of India (RBI) said in a statement on Tuesday

Image
Updated On : 09 Jul 2024 | 5:26 PM IST

SLBCs can boost financial inclusion if synergy with govt improves: RBI DG

As part of aspirational goals for RBI's centenary, referred to as RBI@100, he said, among these targets are deepening financial inclusion and expanding credit availability

Image
Updated On : 24 Jun 2024 | 5:07 PM IST

A model for Global South: RBI lays down goals for its 100th year

From Monetary Policy Framework review to safeguards against payment frauds & rupee internalisation, RBI lists 14 major goals

Image
Updated On : 07 Jun 2024 | 10:07 PM IST

Share of North East in MF assets more than doubles to Rs 40,324 cr in 4 yrs

In March 2020, these states had an asset base of Rs 16,446 crore as compared to Rs 40,324 crore in March this year

Image
Updated On : 14 May 2024 | 12:24 AM IST

Protecting Streedhan, tailored dressing: Top personal finance stories

Our top stories this week tell you about a woman's inalienable financial right and why tailored clothes are better than readymade

Image
Updated On : 03 May 2024 | 8:03 AM IST

Fin inclusion, digital growth to drive momentum: Airtel Payments Bank CEO

Airtel Payments Bank is dominant in rural markets, he said, adding that "rural and urban combined, we are now opening a million bank accounts a month"

Image
Updated On : 02 May 2024 | 7:51 PM IST

There is money coming in: How cash recyclers are set to get a big leg up

Going ahead, a customer can take a wad of notes to a CRM and use UPI to activate the process of depositing it rather than insert their debit card into the slot

Image
Updated On : 07 Apr 2024 | 11:19 PM IST

Govt revamps pharma scheme, entails financial assistance to drug cos

The revamped scheme also introduces more flexible financing options, emphasising subsidies on reimbursement basis, over traditional credit-linked approach

Image
Updated On : 11 Mar 2024 | 5:07 PM IST

Banks must give customers choice to select credit card network: RBI

Some arrangements between card networks and issuers are 'not conducive' for customers, it says

Image
Updated On : 07 Mar 2024 | 12:50 AM IST

Majority of states, union territories have single-digit MF penetration

Per capita investment is less than Rs 10,000 in eight of them

Image
Updated On : 06 Mar 2024 | 10:15 AM IST

What makes Indian fintech fast and furious, but also a little fraudulent?

Know-your-customer, or KYC, regulations aren't easy anywhere. But fintech adoption in India has done more than just open the floodgates to financial inclusion

Image
Updated On : 22 Feb 2024 | 7:15 AM IST

Highlights of the day: Investments are inclined towards India, says FM

From Bihar govt launching a probe into Tejashwi Yadav's dept to Intel discussing financial support with US govt, catch all the latest updates from around the world

Image
Updated On : 17 Feb 2024 | 10:47 PM IST

450 mn Jan Dhan accounts have accumulated Rs 2.1 trillion: Anurag Thakur

Addressing an audience of the officials and employees of the bank, the Minister at the very outset, congratulated Federal Bank for an all-time high share price

Image
Updated On : 17 Feb 2024 | 8:19 AM IST

Bill for NFIR almost ready; may be introduced in next session: DEA secy

The objective is to build a public infrastructure for credit-related information and the right information can be made available by the NFIR to lending agencies

Image
Updated On : 04 Feb 2024 | 10:20 PM IST