Financial Inclusion is about ensuring access to financial services like deposits, fund transfer, loans etc. to each and every member of the society.
Measures taken to Promote Financial Inclusion
1. Pradhan Mantri Jan-Dhan Yojana (PMJDY)
Achievements
Issues/Challenges
2. Business Correspondent Model
Against this backdrop, several policy measures were initiated during the year to ensure last mile access to financially excluded sections. To strengthen the business correspondent (BC) model, the Reserve Bank developed a framework for the BC registry. This registry shall capture information on both existing and potential business correspondents and will help in the effective monitoring and oversight of BC operations. This should help to further strengthen the BC eco-system through appropriate policy initiatives.