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

The Reserve Bank of India (RBI) has come up with a National Strategy for Financial Inclusion 2019-24, aimed at providing access to formal financial services in an affordable manner. It aims to promote financial literacy among customers. 

The Financial Inclusion Advisory Committee of the RBI — in consultation with the Centre, Securities Exchange Board of India (Sebi), Insurance Regulatory and Development Authority of India (Irdai), and Pension Fund Regulatory and Development Authority of India (PFRDA) — has recommended various ways in which the objective can be fulfilled. 

The committee has recommended universal access to financial services wherein every village should have access