Thursday, March 31, 2011

financial inclusion in India

Financial inclusion is the delivery of financial services at affordable costs to sections of disadvantaged and low income people of society. It is essential that availability of banking and payment services to the entire population without discrimination is the prime objective of public policy.its motive is to teach and use of banking and financial service in villages.This includes
  • Savings facility
  • Credit and debit cards access
  • Electronic fund transfer
  • All kinds of commercial loans
  • Overdraft facility
  • Cheque facility
  • Payment and remittance services
  • Low cost financial services
  • Insurance (Medical insurance)
  • Financial advice
  • Pension for old age and investment schemes
  • Access to financial markets
  • Micro credit during emergency
  • Entrepreneurial credit