Putting the poor on the list

Abstract

A new approach to financial inclusion using post offices The Government is making intensive efforts to extend access to financial resources such as savings accounts, credit and insurance services to unbanked sections of our society, and the knowledge and freedom to leverage them to one’s benefit. The Budget has already mentioned that the Government considers financial inclusion as an important thrust area and the Prime Minister is expected to announce a slew of measures on August 15.

India is still lagging behind in providing financial services to the masses with nearly half the households remaining unbanked, and nearly 90 per cent villages not having bank branches. More importantly, the people in these reas do not fully appreciate why they need a bank account at all. The advantages of a financially inclusive model are many fold. Read more at: https://www.thehindubusinessline.com/opinion/Putting-the-poor-on-the-list/article20834142.ece