Page 6 - Latest Updates on Financial Inclusion
SBI to raise share of financial inclusion to 20% by March 2022
To cut C/I ratio to 38%; hive off client servicing to BC channel
 "SBI to raise share of financial inclusion to 20% by March 2022")
Farming, fin inclusion weakest spots in aspirational districts plan: study
Most districts are 40-90% off target; Initiatives on water resources and skill development also need much attention
 "Farming, fin inclusion weakest spots in aspirational districts plan: study")
Digital payments in India likely to grow to Rs 7,092 trn by 2025: Report
By 2025, wallets are expected to have a higher penetration and lower-income would eventually drive multiple small-ticket transactions
 "Digital payments in India likely to grow to Rs 7,092 trn by 2025: Report")
RBI frames plan for financial education among school students, communities
The 'National Strategy for Financial Education 2020-2025' suggests a multi-stakeholder-led approach for creating a financially aware and empowered India
 "RBI frames plan for financial education among school students, communities")
RBI to set up innovation hub for financial inclusion, efficient banking
The hub aims to bring solutions to the financial sector by tapping into areas such as cybersecurity, data analytics, delivery platforms, and payment services
 "RBI to set up innovation hub for financial inclusion, efficient banking")
Start-ups to get priority sector tag as RBI revises lending norms
It intends to align them with emerging national priorities and bring a sharper focus to inclusive development
 "Start-ups to get priority sector tag as RBI revises lending norms")
RBI to set up 'Innovation Hub' for financial inclusion, efficient banking
The Hub will act as a centre for ideation and incubation of new capabilities
 "RBI to set up 'Innovation Hub' for financial inclusion, efficient banking")
RBI unveils 5-yr financial inclusion strategy: Here're key recommendations
Under the national strategy, the committee has recommended new entrants to the financial system - eligible and willing to undergo any livelihood/skill development programme
Budget 2020 will have plan of action on economy: Prakash Javadekar
Javadekar also slammed critics of the National Popular Register exercise, saying that it was done during the Congress-led govt as well
 "Budget 2020 will have plan of action on economy: Prakash Javadekar")
This former Flipkart CTO brings financial inclusion to rural Indians
Davinta, an NBFC launched by Ravi Garikipati and Raj Vattikuti, uses AI to provide banking services to the un-banked
 "This former Flipkart CTO brings financial inclusion to rural Indians")
Momentum generated by PM's Jan Dhan Yojana needs to be taken forward: RBI
The Pradhan Mantri Jan Dhan Yojana (PMJDY), launched in August 2014, was a "watershed" in the financial inclusion movement in the country, the RBI said
 "Momentum generated by PM's Jan Dhan Yojana needs to be taken forward: RBI")
Wave and pay with SoftPos
A new wave of technology is now ready to change the mobile based payment system once again
Deposits under PM Modi's flagship Jan Dhan Yojana cross Rs 1 trillion
The PMJDY was launched on August 28, 2014, with an aim to provide universal access to banking facilities to the people in the country.
 "Deposits under PM Modi's flagship Jan Dhan Yojana cross Rs 1 trillion")
The five-year track record of NDA govt's financial inclusion drive
Apart from bringing the deprived into the financial mainstream, various schemes of the govt have also plugged pension leakages and fostered direct benefit transfers
 "The five-year track record of NDA govt's financial inclusion drive")
Financial inclusion providing entire range of banking services: SBI chief
Financial inclusion Arundhati Bhattacharya said has four key aspects -- accessibility, affordability, quality and usability
 "Financial inclusion providing entire range of banking services: SBI chief")
Regulators team up for financial inclusion
An inter-regulatory coordination group, plus an outside group of experts is busy creating the plan
 "Regulators team up for financial inclusion")
Small finance banks seek relaxed norms to meet financial inclusion goals
Unlike universal banks, SFBs require prior approval from RBI for opening bank branches
 "Small finance banks seek relaxed norms to meet financial inclusion goals")
Odisha wants swift roll out of bank branches in un-banked regions
Of 6,238 gram panchayats in the state, 4,597 were un-banked in 2014; two years since, only 186 branches have been opened
 "Odisha wants swift roll out of bank branches in un-banked regions")
Sumita Kale: Don't undermine the strides made by Jan-Dhan
Paucity of information regarding the progress of financial inclusion in India has been a major challenge. The situation is now changing, with data being made available online, says the writer in the f