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GS Paper 3 Syllabus: Economy – Inclusive growth and associated issues/challenges Source: Business Standard Context: According to the latest Findex Report – 2021 by the World Bank, around one-third of adults still lack access to formal financial services. About financial inclusion: Financial inclusion means that individuals and businesses have access to useful and affordable …
GS Paper 3 Syllabus: Financial Inclusion Source: Economic Times Context: As per the study conducted by PricewaterhouseCoopers (PwC) and the Association of Microfinance Institutions of India, Microfinance institutions (MFI), will play a leading role in the growth process of India. What are MFIs? Microfinance institutions (MFIs) are financial companies that provide small loans to …
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GS Paper-3 Syllabus: Inclusive growth and associated issues/challenges Source: Live Mint Context: An article by David Malpass (president of the World Bank Group) on financial inclusion. *The article can be read along with one on 7th July 2022 (World Bank releases Global Findex database 2021) Data: Global Findex found that 71% of adults in …
GS Paper 3: Syllabus: Financial Inclusion Context: World Bank’s Global Findex database surveyed how people in 123 economies use formal and informal financial services e.g., cards, ATMs, mobile phones, and the internet. Global specific findings: Account ownership: Globally, in 2021, 76 per cent of adults had an account at a bank or regulated institution …
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Introduction: On July 19, 1969, Indira Gandhi who was both Prime Minister and Finance Minister at that time decided to nationalize 14 largest private banks of the country. The reason for nationalizing banks was to sync the banking sector with the goals of socialism adopted by the Indian government after independence. Factors and reasons …
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Topic: Inclusive growth and issues arising from it. 5. Enumerate the major tax reforms introduced in India in the recent times. Do you think that India should move towards a Direct Tax Code? Examine. (250 words) Difficulty level: Moderate Reference: Insights on India Why the question: The question is part of the static syllabus of …
Topic: Inclusive growth and issues arising from it. 5. India still has a long way to go to bridge the gender gap in access and use of financial services. Comment (250 words) Difficulty level: Moderate Reference: Live Mint Why the question: As per the All India Debt and Investment Survey (AIDIS), 20% of rural women …
Introduction: Financial inclusion broadens the resource base of the financial system by developing a culture of savings among large segment of rural population and plays its own role in the process of economic development. Further, by bringing low-income groups within the perimeter of formal banking sector; financial inclusion protects their financial wealth and …
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QUESTIONS: 13/11/2013 What are the determinants of population growth? Discuss comparatively the trends population growth in the developed and the developing countries of the world, mentioning the socio-economic implications of these trends in each case.(250 Words) What is BEE rating? What is it used for? (100 Words) ” The talk of financial inclusion and inclusive growth …
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