Scribd
Upload
78 views8 pages

Prof - Deeksha Suneja: JSPM Narhe Technical Campus

The document discusses financial inclusion in India. It defines financial inclusion as delivering affordable financial services to all individuals, including lower income groups. It notes that initiatives like Jan Dhan Yojana have increased bank account ownership from 65% to 15-20%. The benefits of financial inclusion include increased lending, economic stability, and development. It helps individuals save money and access loans instead of relying on money lenders. The government and RBI have taken steps like Jan Dhan Yojana, Mudra Yojana, and easing KYC norms to promote financial inclusion.

Uploaded by

Er Amol Rathod
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
78 views8 pages

Prof - Deeksha Suneja: JSPM Narhe Technical Campus

The document discusses financial inclusion in India. It defines financial inclusion as delivering affordable financial services to all individuals, including lower income groups. It notes that initiatives like Jan Dhan Yojana have increased bank account ownership from 65% to 15-20%. The benefits of financial inclusion include increased lending, economic stability, and development. It helps individuals save money and access loans instead of relying on money lenders. The government and RBI have taken steps like Jan Dhan Yojana, Mudra Yojana, and easing KYC norms to promote financial inclusion.

Uploaded by

Er Amol Rathod
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 8

MINI PROJECT

ON

FINANCIAL INCLUSION

Submitted By

Mr.Rohit Ranzunjare

Mr.Akshay Doiphode

MBA 1St year

Submitted to

Prof.Deeksha Suneja

JSPM NARHE TECHNICAL CAMPUS


What is financial inclusion
 Is the delivery of financial services at affordable cost to
lower income groups or financial services to those who
cannot afford
 Honestly now a days its even more than this and can be
called as to delivery of financial services to every
individual in the society.
1. Access
2. Affordability
3. Simplicity
4. Appropriateness (example language barriers)
5. Quality
6. Financial education
7. Innovation
8. Flexible
9. Speed
Some facts
 Around 15-20% people does not have bank accounts earlier it was 65%
before jan dhan yojana.

 30-40% India's poor depend on local money lenders on unreasonable rates


like lagaan system during British period

 People taking insurance is very low in number

 Only cash transactions in rural area


Benefits to country economy
 More money in banks helps providing loans to people and business on lower
interest rates

 Financial stability to economy in times of depression

 Cashless economy

 Higher and better productivity and enabling competition which lowers the
rates of products ultimately

 Overall development or we can say widespread development in all area


enabling faster growth in economy

 Global recognition and reduction of poverty

 Increase in national income

 Increase in employment and income opportunity or jobs

 Correction of leakage in demand and supply(example implementation of


schemes, subsidy transfer, distribution channels leakage etc)

 No middle agent
Benefits to individual
 Making habit of people to save money and get interest from banks

 Helping people by giving loans from banks in which they have deposited
money instead going over to the people in the society like money lenders
and people which exploit them on the basis of interest rates or lagaan.
(Microfinance)

 Filling the gaps and leaks in welfare schemes and subsidies.

 Day to day transactions easier and on paper

 Plan and pay recurring expenses like telephone bill, school fees etc or we
can say manage your expenses easily

 Improvement in overall welfare by increase in purchasing power of


individual and mitigating shocks

 Removing inequality by having more opportunities in many areas

 Increasing risk taking ability and self esteem

 Insurance through jan dhan yojana and sense of security for family

 Subsidy in accounts i.e demand is equivalent to supply

 Empowerment of women
Steps taken by central government
 Pradhan Mantri Jan Dhan Yojana

 Gold Monetization

 Mudra Yojana

 Direct Benefit Transfer(DBT)

 Demonetization

 Pushing of cashless transaction by mobile banking and Aadhar enabled


banking system

 Providing Rupay debit cards to farmers


Steps taken by RBI
 Easing the KYC norms(People getting credit cards in a easier way)

 Banking services reaching door to door via business correspondents(Bank


personnel organising camps in villages)

 Electronics benefits transfer (NEFT\RTGS) later on NPCI handling IMPS


and UPI services

 Allowing technology to have key role

 Allowing more banks license

 Allowing banks to open branches in rural areas


Win-Win Situation

You might also like