Financial Inclusion

Question 1

what is financial Inclusion and what facilities under this?

Answer 1

savings product and account,
credit facility,
Enter prenuer credit,
Loans and Insurance,
Mortgage,
Financial Advice,
payment and remittance services.

It also helps in contengincy planning, credit, wealth creation

Question 2

What are the three main sources to measure financial inclusion ? And elaborate them ?

Answer 2

1. Census 2011
2. CRISIL-Inclusix
3. IMF ‘ financial access survey’.

Question 3

The major causes for financial exclusion in india are ?

Answer 3

Lack of surplus income
Not suitable to customers requirements
Lack of requisite documents
Lack of awarness about the product
Lack of trust in the system
High transcation cost
Remotness of service provider
Poor quality of service lender

Question 4

Financial inclusion measures taken but not in recent pst. What are they ?

Answer 4

1. BSBD
2. No frills account
3. Simplified KYC norms
4. Use of technology
5. Financial inclusion plans
6. General purpose credit card
7. Kisan credit cards
8. Providing banking services in villages with population more than 2000
9. Setting up ultra small branches
10. Financial inclusion fund
11. Assignment of lead bank responsibility.

Question 5

Financial inclusion measures in recent years are ?

Answer 5

1. Financial education in school
2. Training programee for BC
3. Licensing focus on rural areas
4. Establishing of payment banks
5. Small finance bank
6. RBI’s vision 2020
7. Jan dhan yojna
8. Govt flagship initiatives
9. Promotion of digital payments
10. Deepening of digital payments ecosystem
11. Expansion of financial services in rural and urban areas
12. NSFE
13. Financial literacy model
14. Lending to priority sector
15. National strategy for financial inclusion

Question 6

Describe digital payment index, NSFE, financial inclusion index

Question 7

What is financial inclusion strategy and what are its objectives and recommendations

Answer 7

1. Universal access to financial services
2. Providing basic bouquet of financial services
3. Access to livelihood and skill development
4. Financial Literacy and education
5. Customer protection and grievance redressal
6. Effective coordination

Leveraging technology and adopting a multi stakeholder approach for sustainable financial inclusion.

Question 8

Explain BC and BF model in banking and their difference , income, providers

Question 9

Explain the objectives, role, infrastructure, funding of rural self employment training institutes (RSETI) ?

Question 10

Describe the role of technology in financial inclusion? And deveopments in it ?

Answer 10

White label banks, micro atm, internet banking etc..

Question 11

Explain about NEFT, RTGS, ECS, CBS

Answer 11

Core banking solutions

National electronic funds transfer

Real time gross settlement

Electronic clearance service
Ecs credit, ecs debit

Question 12

What are the global emphasis on financial inclusion ?

Answer 12

1. Sustainable development goals
2. Commitment by G20
3. Commitment by world bank
4. Global Findex
5. Alliance for financial inclusion

Question 13

What are challenges for financial inclusion

Answer 13

1. Non universal access to bank accounts
2. Digital divide
3. Inadequate infrastructure
   4.socio cultural norms
4. Payment infrastructure
5. Informal and cash dominated economy