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Financial inclusion is the availability and equality of opportunities to access financial services. [1] It refers to processes by which individuals and businesses can access appropriate, affordable, and timely financial products and services—which include banking, loan, equity, and insurance products.
Committee on Medium-term Path on Financial Inclusion was an experts committee formed by the Reserve Bank of India (RBI) on 15 July 2015 to create a five-year plan for financial inclusion in India. It was headed by Deepak Mohanty , executive director of RBI.
Bharat Financial Inclusion Limited (formerly known as SKS Microfinance Limited) or BFIL is a banking & finance company (NBFC), licensed by the Reserve Bank of India. It was founded in 1997 by Vikram Akula , who served as its executive chair until working. [ 3 ]
TSYS Technology to Help Achieve Financial Inclusion in India TSYS solutions support people-centered payments in India COLUMBUS, Ga.--(BUSINESS WIRE)-- TSYS (NYS: TSS) technology is playing its ...
Pradhan Mantri Jan-Dhan Yojana is India's National Mission for Financial Inclusion to ensure access to financial services, namely banking savings and deposit accounts, remittance, credit, insurance and pension in an affordable manner. This financial inclusion campaign was launched by the Prime Minister of India Narendra Modi on 28 August 2014. [2]
Pradhan Mantri Jan Dhan Yojana (transl. Prime Minister's Public Finance Scheme) is a financial inclusion program of the Government of India open to Indian citizens (minors of age 10 and older can also open an account with a guardian to manage it), that aims to expand affordable access to financial services such as bank accounts, remittances, credit, insurance and pensions.
Committee on Comprehensive Financial Services for Small Businesses and Low Income Households (commonly known as the Nachiket Mor Committee) [1] was an expert committee formed by Raghuram Rajan on 23 September 2013, [2] after he was appointed as the governor of the Reserve Bank of India (RBI). It was headed by Nachiket Mor.
The institutional structure for India’s Financial Inclusion/ Literacy programme is unique as it has an apex body in the Financial Stability and Development Council (FSDC), headed by the Finance Minister of Government of India, mandated, inter alia, to focus on attaining financial inclusion/ literacy goals. [6]