• 9964432222
  • Mail Us
  • Appointment
  • Locate Us
  • Chat Now
  • Courses
  • Login
  • Register
Manifest IAS
JournalsOfIndia
Manifest Learning Academy
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
  • Home
  • SNIPPETSfor Prelims
  • ARTICLESfor Mains
  • BROWSEBY SOURCE
  • DOWNLOADS
No Result
View All Result
JournalsOfIndia
No Result
View All Result
Home Economy

Financial Inclusion Advisory Committee

March 30, 2020
in Economy, Society
Reading Time: 2 mins read
0
1k
VIEWS
Share on WhatsAppShare on TelegramShare on Facebook
image_pdfMake PDF

Source: Kurukshetra & RBI

Background 

Seven of the United Nations Sustainable Development Goals (SDG) of 2030 view financial inclusion as a key enabler for achievi0ng sustainable development worldwide. Hence Reserve Bank of India under the aegis of Financial Inclusion Advisory Committee initiated the process of formulation of  National Strategy for Financial Inclusion (NSFI) for the period of 2019-2024.

Reserve Bank of India (RBI) has reconstituted the Financial Inclusion Advisory Committee (FIAC) with the following terms of reference:

  • Monitoring of the Financial Inclusion Plan progress submitted by banks and evaluation of its impact through the conduct of study/surveys;
  • Monitoring of the Financial Literacy progress reported by banks and evaluation of its impact through the conduct of study/surveys;
  • Preparation of National Strategy for Financial Inclusion which will be the convergence of the Financial Inclusion efforts of various stakeholders including the PMJDY and monitoring of the progress made under the same.

A brief note on National Strategy for Financial Inclusion (NSFI) 

The NSFI sets forth the vision and key objectives of the Financial Inclusion policies in India to expand the reach and sustain the efforts through a broad convergence of action involving all the stakeholders in the financial sector.

  • The NSFI for India 2019-2024 has been prepared by RBI under the aegis of the Financial Inclusion Advisory Committee.
  • It is based on the inputs and suggestions from Government of India and Financial Sector Regulators like SEBI, IRDA and PFRDA.
  • It aims to strengthen the ecosystem for various modes of digital financial services in all Tier-II to Tier VI centres to create the necessary infrastructure to move towards a less-cash society by March 2022.

Strategic Pillars of NSFI:

  1. Universal Access to Financial Services
  2. Providing Basic Bouquet of Financial Services
  3. Access to Livelihood and Skill Development
  4. Customer Protection and Grievance Redressal
  5. Effective Coordination

 

image_pdfMake PDF
Tags: Prelims

Related Posts

What are Multilateral Development Banks?

What are Multilateral Development Banks?

March 31, 2023
Tamil Nadu announces Universal Basic Income scheme

Tamil Nadu announces Universal Basic Income scheme

March 30, 2023
New rules on UPI transactions

New rules on UPI transactions

March 30, 2023
GST Appellate Tribunal (GSTAT)

GST Appellate Tribunal (GSTAT)

March 28, 2023
Rubber board’s mobile app–CRISP

Rubber board’s mobile app–CRISP

March 28, 2023
IMF bailout

IMF bailout

March 28, 2023
Government removed the LTCG tax benefit from debt mutual funds

Government removed the LTCG tax benefit from debt mutual funds

March 25, 2023
Impact of Fed rate on the Economy

Impact of Fed rate on the Economy

March 24, 2023
World Happiness Report 2023

World Happiness Report 2023

March 23, 2023
Mundra Petrochemical project

Mundra Petrochemical project

March 21, 2023
Please login to join discussion

Our Offline Classroom Student

CONGRATULATIONS TO 2021 TOPPERS !!!

Rank 171 Kumar Shivashish
Rank 250 Sahithya
Rank 263 Sumit Kumar Thakur
Rank 311 Deepak Ramachandra Shet
Rank 455 Ravinandan B M

April 2023
MTWTFSS
 12
3456789
10111213141516
17181920212223
24252627282930
« Mar    

Browse by Category

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tags

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana
JournalsOfIndia

Our vision is to orient the readers to grasp the facts objectively and analyse critically. In the rush of reaching first to the readers, the websites miss the balanced opinion, which is the need of the hour. We aim to reach the readers with more crispness, preciseness and relevance. We bring the articles in UPSC way for the civil services aspirants and the Wisest Way for general readers.

Categories

  • Agriculture
  • Disaster Management
  • Economy
  • Environment
  • Ethics
  • Foreign Affairs
  • Geography
  • Governance
  • History
  • Law & Policy
  • Opinion
  • People in News
  • Places in News
  • Science & Tech
  • Security
  • Society
  • Sports
  • Uncategorized

Browse by Tag

AIR All India Radio BBC Business Line Business Standard dow Down to Earth DownToEarth DTE Economic Times ET FAO Financial Express GS-1 GS-2 GS-3 GS-4 Hindustan Times IE India & the world Indian express Indiatoday India today Kurukshetra Livelihoods portal LiveMint Mains News Newspaper News Paper PIB Prelims PRS India RSTV Science Reporter Survey The Hindu The India Express The Indian Express The Print the wire Times of India TOI TOPPERS Yojana

Newsletter

The most important UPSC news and events of the day.

Get Journals daily newsletter on your inbox.

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

  • Login
  • Sign Up
  • Home
  • SNIPPETS
  • ARTICLES
  • BROWSE
  • DOWNLOADS
No Result
View All Result

© 2020 JournalsOfIndia - A free initiative by Manifest Team.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In