Banks must transmit rates for fruitful financial inclusion
Banks not passing on rate cuts points to a lack of intensity in price competition and calls for increasing the number of lenders
Financial Inclusion: Indian Women Have Something to Bank On
For the first time, the majority of Indian women have been financially included. Fresh data show that the proportion of Indian women with individual accounts in formal financial institutions (primarily banks) reached 61% in 2015, a sharp increase from 48% in 2014, lagging men by only eight percentage points.
Local address proof no longer a hurdle for unbanked Indians
Imagine you are a labourer in a village in Odisha and have painstakingly completed your Aadhaar formalities (for which you gave a proof of permanent address and your fingerprints).
Digital Deception: Navigating the maze of social engineering frauds in the age of instant transactions
These fraudulent messages have proliferated during the pandemic, where fraudsters induce panic or excitement that impairs the customers’ ability to think clearly.
Let’s not conflate microfinance with self-help-group financing
The microfinance industry has witnessed moves by the Reserve Bank of India (RBI) to revise the regulatory framework (March 2022) for it and also caution it against an exclusive focus on business growth (November 2022).
Tackling customer protection issues in life insurance for low-income households
Insurance companies should align their sales practices to generate the best outcomes for low income households by ensuring easy access to a variety of products with disclosures that provide accurate information.
G20 meeting echoed importance of digital public infrastructure but there are four challenges
The promise of SP-ODEs is compelling but it is worth reiterating that deploying them would not automatically translate into better welfare delivery.
Financial Services Can Be More Humane
Tremendous efforts have gone into creating new authoritiessuch as the Central Consumer Protection Authority.
Why financial service providers, policy makers must evolve to better serve low-income households
Low-income households work with irregular income inflows, resulting in shrinking financial planning horizon and necessitating frequent decisions in response to frequent changes.
What Findex 2021 Tells Us About Financial Inclusion in India
Indian households and businesses hold their wealth primarily in physical assets like real estate, gold, and durables, while barely investing in any financial assets.