Women Business Correspondents for Financial Inclusion

GS Paper 3  Syllabus: Economy: Financial Inclusion   Source: Hindu Business Line  Context: The State Bank of India’s economic research department suggests that increasing the number of women business correspondents (BC) by implementing a 33% reservation could significantly impact India’s socio-economic fabric.   What is Financial Inclusion? Financial inclusion refers to the effort to provide …

DPI achieves an 80% financial inclusion rate in India

GS Paper 3  Syllabus: Financial Inclusion    Source: PIB  Context: India’s use of Digital Public Infrastructure (DPI) has achieved an 80% financial inclusion rate in just six years, according to a World Bank report. A feat that would have taken nearly five decades without a DPI approach   The article should be read in continuation …

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 …

Breaking barriers, building inclusion

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 …

MFIs to play a leading role in India’s economic growth: Study

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 …

Financial Inclusion

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 …

World Bank releases Global Findex database 2021

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 …

SANSAD TV: MILESTONES SERIES- NATIONALIZATION OF BANKS

  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 …

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.

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 …

India still has a long way to go to bridge the gender gap in access and use of financial services. Comment

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 …

Insights into Editorial: How to boost financial inclusion

    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 …

General Studies – Daily Answer Writing Challenge Day – 104

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 …