Advancing Financial Inclusion in India Beyond the Jan-Dhan Yojana
Ravi, S & Gakhar, S (2015). Advancing Financial Inclusion in India beyond the Jan-Dhan Yojana. Brookings India IMPACT Series. Brookings Institution India Center.
15 Pages Posted: 25 Sep 2017
Date Written: January 16, 2015
This paper recommend that the Indian Government:
Promote financial savings of poor households through innovative product design that matches their specific needs. Bring indigenous 'bottom-up' financial institutions such as registered Chit Funds, and the extensive postal network into the fold of national financial inclusion strategy for greater impact. Extend effort to pilot innovative insurance products and scale up successful insurance instruments. Encourage technology solutions that reduce operating costs of selling small ticket financial instrument and support innovations in management practices of financial institutions to enable sustainable and robust financial inclusion. Galvanize financial literacy and awareness for better utilization of financial instruments and to reduce risks of dubious schemes.
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