Drishtikon: A Management Journal

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Financial Inclusion – The Outlook, the Concerns and the Road Ahead


Affiliations
1 Lecturer, Department of Management Studies, Vaish College of Engineering, Rohtak
2 Student, Department of Management Studies, Indian Institute of Technology, Delhi
     

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According to Rangarajan Committee, Financial Inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. This paper broadly covers 3 dimensions of financial inclusion. Firstly, the outlook of financial inclusion; to find out existing structure, policies and practices after looking from both demand and supply side factors like penetration, availability, cost, usage, timeliness, social aspects etc. Secondly, the concerns regarding current situation of financial inclusion, citing facts from different surveys, researches etc. Finally, the Road Ahead for 100% financial inclusion taking clues from Rangarajan Report, UNDP Report, UNCDF-DESA Report and World Bank Report mentioning roles for regulators, development, banks, government etc. and ending the note with the contextual recommendations for improvements in various context of current situations of financial inclusion

Keywords

Financial Inclusion, Insurance
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  • Rangarajan , C. Report of the Committee on Financial Inclusion, http://www.nabard.org/report_comfinancial.asp

  • "Building Inculsive financial sector for development”, United Nations Department of Economic and Social Affairs (DESA) and United Nations Capital Development Fund http://www.uncdf.org/english/microfinance/pubs/bluebook/pub/index.php?get_page=contents

  • "Finance for all-Policies and Pitfalls in Expanding Access” World Bank Policy Research Report, www.worldbank.org/financeforall, DOI: 10.1596/978-0-8213-7291-3

  • Agrawal. A (2008). The need for Financial Inclusion with an Indian perspective, IDBI Gilts Limited, http://www.oecd.org/dataoecd/16/55/40339652.pdf

  • Sarma, M. (2008), Index of Financial Inclusion, ICRIER Working Paper, August 2008.

  • Readings on Financial Inclusion”, Indian Institute of Banking & Finance, Taxmann Publication


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  • Financial Inclusion – The Outlook, the Concerns and the Road Ahead

Abstract Views: 295  |  PDF Views: 0

Authors

Rohit Bansal
Lecturer, Department of Management Studies, Vaish College of Engineering, Rohtak
Rahul Garg
Student, Department of Management Studies, Indian Institute of Technology, Delhi
Rakesh Kumar
Student, Department of Management Studies, Indian Institute of Technology, Delhi

Abstract


According to Rangarajan Committee, Financial Inclusion may be defined as the process of ensuring access to financial services and timely and adequate credit where needed by vulnerable groups such as weaker sections and low income groups at an affordable cost. This paper broadly covers 3 dimensions of financial inclusion. Firstly, the outlook of financial inclusion; to find out existing structure, policies and practices after looking from both demand and supply side factors like penetration, availability, cost, usage, timeliness, social aspects etc. Secondly, the concerns regarding current situation of financial inclusion, citing facts from different surveys, researches etc. Finally, the Road Ahead for 100% financial inclusion taking clues from Rangarajan Report, UNDP Report, UNCDF-DESA Report and World Bank Report mentioning roles for regulators, development, banks, government etc. and ending the note with the contextual recommendations for improvements in various context of current situations of financial inclusion

Keywords


Financial Inclusion, Insurance

References