FINANCIAL INCLUSION

MORE UPDATE SOON

RBI POLICY AND INITIATIVES FOR FI: 

FINANCIAL INCLUSION MEANS ADD MORE PEOPLE WITH BANKING SYSTEM SOTHATGOVT CAN TRANSFER BENIFIT DIRECTLY TO THE CUSTOMERS ACCOUNT.IF PEOPLE CAN USE MAX AMOUNT FOR THEIR NEED THEN AFTER SOME TIME THEY BECOME PERFORMING FOR OUR COUNTRY.

NO FRILLS ACCOUNT(WHICH IS CONVERTED TO BSBDA ACCOUNT IN 2012).

BSBDA (BASIC SAVING BANK DEPOSIT ACCOUNT):OPNED WITH ZERO BALANCE.

RELAXED AND SIMPLIFIED KYC NORMS: ONLY ONE ID AND ADDRESS PROOF

SIMPLIFIED BRANCH AUTHORIZATION POLICY: LESS DOCUMENTATION.

COMPULSORY REQUIREMENTS OF OPENING BRANCHES IN UN-BANKED VILLAGES

FINANCIAL LITERACY CENTER: MAKE THEM AWARE ABOUT HOW TO INVEST ,SAVE AND USE OF LOAN MONEY.

LICENCING OF NEW BANK: INTRODUCE NEW BANK FOR GREATER REACH TO PEOPLE.

ATM NETWORK: ACCESSABLE TO ALL PEOPLE.

MOBILE BANKING: FOR FAST FUND TRANSFER.

EBT (ELECTRONIC BENEFIT TRANSFER): MONEY DIRECTLY SEND TO ACCOUNT.

WHITE LEVEL ATM: ATM SET UP BY NBFC (NON BANKING FINANCIAL COMPANIES.)

SHG BANK  LINKAGE ( SELF HELF GROUP): GROUP OF SOME PEOPLE ,WHO GET EASY LOAN FO COMMON EMPOWERMENT.

PRADHAN MANTRI JAN DHAN YOJANA  :INITIATIVE TAKEN BY GOVT FOR FINANCIAL INCLUSION. 


MOTIVES :

BANKING ,CREDIT , INVESTMENT AND INSURENCE FOR ALL PEOPLE.

PRADHAN MANTRI JAN-DHAN YOJANA

PRADHAN MANTRI JAN-DHAN YOJANA

FINANCIAL INCLUSION MEANS ADD THOSE PEOPLE WHO DONT HAVE ACCOUNT WITH BANK.

PMJDY WERE INTRODUCED IN 25 AUG 2014.

PREVIOUSLY KNOWN AS NO FRILLS ACCOUNT CONVERTED AS BSBDA (BASIC SAVING BANK DEPOSIT ACCOUNT) IN 2012.

NO FRILLS ACCOUNT WAS INTRODUCED IN 2005.

IN BSBDA PEOPLE CAN OPEN HIS ACCOUNT WITH NO BALANCE OR ZERO BALANCE.

PRESENTLY 12.54 CR ACCOUNT WERE OPENED UNDER PMJDY.

11.07 CR RUPAY DEBIT CARD WERE ISSUED TILL DATE.

10.49 THOUSAND CR WERE DEPOSITED UNDER PMJDY.

RUPAY CARD HOLDER CAN GET ACCIDENT  BENEFIT  UP TO 30 THOUSAND.

A PERSON CAN GET PASSBOOK, ATM, PIN UNDER THIS ACCOUNT.

A PERSON CAN USE HIS CARD IN CASH WITHDRAW, BALANCE EN-QUERY,POINT OF SALE, E-COMMERCE ETC.

A PERSON CAN TRANSFER HIS MONEY THROUGH MOBILE BANKING.

UNDER DBT (DIRECT BENEFIT TRANSFER),THE SUBSIDY WILL BE TRANSFER TO HIS BANK ACCOUNT LIKE GAS OR WAGES OF 100 DAYS WORK. 

IF A PERSON OPERATE HIS ACCOUNT PROPERLY THEN HE CAN GET OVERDRAFT UPTO 5 THOUSAND.

MINIMUM DOCUMENT REQUIRED FOR ACCOUNT OPENING LIKE ADHAR CARD OR MGNREGA CARD.

NO LIMIT FOR DEPOSIT BUT MAX 4 FREE WITHDRAWALS  FROM BSBDA ACCOUNT.

AT LEAST ONE ACCOUNT IN EVERY HOUSEHOLD.

 HOUSEHOLD COVERAGE INCREASED TO 89% AND ABOUT 2.18CR HOUSEHOLDS STILL UNCOVERED.

BANK MITRAS TO HELP PEOPLE IN DIFFERENT ASPECT (MAKE PEOPLE AWARE HOW  ACCOUNT HELPS THEM).

MAKE IN INDIA PROJECT

                                    MAKE IN INDIA

1. Make in India helps in more productivity in low cost (like China) and sell it to World.

2. 128 crore peoples’ huge need attract many Foreign company to serve in India and production in India reduces its (Excise duty) cost which will rise employment and Tax revenue.

3. Greater revenue reduce our foreign borrowing where we can reduce our Interest payments.

4. Less subsidy will help Govt. to use its extra funds for fast poverty eradication and rapid growth.

5. Pure competition reduce the monopoly and give better services like in telecom sector. Some Public company give better services due to heavy competition from Private sector where people get better services by greater choice.

6. We have most valuable resources which is human resource. If we use it properly then we produce lot and if we sell it to other country our valuation of Rupees will rise.

7. We need joint research which will enhances efficiency in scientific research and development.

8.  If employment rise then the use of subsidy will reduces, which Govt. can use in literacy rise, reduce child labor problem, helps BPL families and in health care.

SAARC

                                               SAARC

1.THE SOUTH ASIAN ASSOCIATION FOR REGIONAL CO-  OPERATION FOCUSED ON    ECONOMIC AND  GEOPOLITICAL DEVELOPMENT BY EIGHT COUNTRIES.  AFGHANISTAN, PAKISTAN, INDIA,BANGLADESH,  BHUTAN,MALDIVES,NEPAL AND  SRILANKA.

2. FIRST SAARC SUMMIT WAS HELD IN DHAKA ON DEC    1985.

3. RECENTLY 18TH SUMMIT OF SAARC WAS HELD IN  KATHMANDU.

4. MALDIVIAN PRESIDENT MR ABDULLA YAMEEN  ABDUL OPENED THE SUMMIT.

5.THIS WAS THE THIRD TIME NEPAL'S PM SUSHIL    KOIRALA ORGANISED THE SUMMIT.

6. THIS MEETING TAKE PLACE AFTER AND INTERVAL OF      3 YRS.

7. LAST SUMMIT WAS HELD IN MALDIVES.

8. INDIA'S PM MR NARENDRA MODI FOCUSED ON FIVE  PILLARS FOR ACHIEVING THE    SUCCESS FOR  COUNTRIES THOSE ARE -TRADE,INVESTMENT,CO-  OPERATION,ASSISTANCE CO-OPERATION AND  CONNECTIVITY AMONG  PEOPLE.

9.INDIA SIGNED 12 AGREEMENT WITH NEPAL OR  TOURISM,MEDICINES ,YOUTH  EXCHANGE, PDA ( Project  Development Agreement ) FOR ARUN III,AUTOMOBILE  AGREEMENT,TWIN CITY.

10. DISASTER MANAGEMENT  CENTER  IN INDIA  ,METEOROLOGICAL RESEARCH  CENTER IN  BANGLADESH COASTAL ZONE MANAGEMENT CENTER  IN MALDIVES ,HR  DEVELOPMENT CENTER IN  ISLAMABAD .

11. GREATER FOCUS ON PROSPERITY AND  PEACE,ENERGY CO-OPERATION,RAILWAY      AGREEMENT.

12.   3-5 YRS BUSINESS VISA FOR SAARC COUNTRIES BY  INDIA.