Use financial inclusion to reduce inequality and speed up growth

GS Paper 3  Syllabus: Inclusive growth   Source: LM  Context: The article discusses financial inclusion as a tool for reducing inequality and fostering economic growth.   What is financial inclusion? It means ensuring that all individuals and businesses have access to affordable and essential financial services, such as banking, credit, savings, and insurance, regardless of …

Business Correspondents

Topics Covered: Inclusive growth and issues arising from it. Business Correspondents What to study? For Prelims: What are CSCs and who are BCs, BCs- objectives, eligibility and functions. For Mains: Significance and measures for financial inclusion. Context: SHG women working as Business Correspondents for banks (BC Sakhis) and Bank Sakhis playing a vital role in …