Financial Inclusion in Action

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Draft Branchless Banking Regulations in Indonesia – A Review

The Government of Indonesia has been proactive in its efforts to extend formal financial access to the unbanked and under-banked sections of the society. The release of draft regulations on branchless financial services for financial inclusion by Otoritas Jasa Keuangan (OJK – the financial services authority that regulates and supervises financial services activities in banking,… Continue reading

Does the New Inclusion Scheme Risk Adding a Rs. 1,000 Billion Subsidy Burden?

The Prime Minister is all set to announce a mega new programme on financial inclusion on India’s Independence Day. The Department of Financial Services, Ministry of Finance, is busy shaping the ‘Sampoorn Vittiyea Samaveshan (SVS)’ (Comprehensive Financial Inclusion) scheme in consultation with bankers. Anyone closely associated with the financial inclusion space will worry that without very… Continue reading

The Mor Committee Report – Will Payment Banks Be Revolutionary or Evolutionary?

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One of the more debated aspects of the Mor Committee’s report on “Comprehensive Financial Services for Small Businesses and Low Income Households” is the proposal for the new class of banks, in particular the “Payments Banks”. While it is probably a stretch to assert that this is an “incremental step” from the existing (Pre-Paid Instrument… Continue reading

Insights from the Field: Financial Capability via Listening & Learning

Here is what we already know: most people at all income levels learn more from their first-hand experience with various financial services (formal and informal) than from “expert” or outside advisors. And sharing that learning with immediate friends, colleagues, and family carries more trust and has more impact than any brochure or video or special… Continue reading

The Aadhaar Way

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Opposition to cash substitution for public services has delved, to an extent, on the not-so-widely tried Aadhaar enabled system for identification. However, work done by MicroSave, examining the implementation of the Aadhaar enabled schemes using the Unique Identification of India (UIDAI) platform shows there is much evidence to suggest that the system could, indeed, work.… Continue reading