Financial inclusion strategy for 2024
RBI chalks out financial inclusion strategy for 2024
WHY IN NEWS:
Aims at universal mobile access to financial services
SYLLABUS COVERED: GS 3:RBI
For PRELIMS this is a very important RBI featured schema .
For MAINS well , Less cash society vs digital India campaign has to be studied.
National Strategy for Financial Inclusion (NSFI)
OBJECTIVE : Increasing outreach of banking outlets of to provide banking access to every village within a 5-km radius or a hamlet of 500 households in hilly areas by March 2020.
RBI said that the aim was also to see that every adult had access to a financial service provider through a mobile device by March 2024.
With the aim of providing basic of financial services, a target has been set that every willing and eligible adult, who has been enrolled under the Prime Minister Jan Dhan Yogana, be enrolled under an insurance scheme and a pension scheme by March 2020.
Financial inclusion is increasingly being recognised as a key driver of economic growth and poverty alleviation the world over.
SOURCES: THE HINDU