Financial Inclusion - News and Views - January 2013
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January 2013 |
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The monthly newsletter from the Indicus Centre for Financial Inclusion documents the latest news and views in the financial inclusion space, to provide a knowledge base that will help build understanding around how to accelerate the poor’s access to high-quality financial services. This month we focus on the Indian government’s recent announcement to fast track direct cash transfers through Aadhaar-linked bank accounts. This move can have profound implications for expanding financial inclusion in India. The lead stories include a) two articles that bring out the link between the direct cash transfer scheme and financial inclusion and b) a research study by Zimmerman, Ravi and Tosh of the New America Foundation that looks at global experiences in creating financially-inclusive G2P models. Lead Stories From Cash Transfers to Inclusion This two part series by Sumita Kale explains the link between the programme of direct cash transfers and inclusion and examines the business case for banks in providing government payments. From Protection to Investment: Understanding the Global Shift to Financially-Inclusive Social Protection Payment Systems This paper by Jamie M. Zimmerman, Anjana Ravi and Nicole Tosh provides an overview and initial assessment of the largest and most detailed global data set on financially-inclusive G2P models. It also offers a preliminary analysis of opportunities, challenges and recommendations to enable and encourage asset building among cash-transfer recipients. Section I: Policy – the latest from India’s policymakers Contemporary Issues in Banking: Reflections on Viewpoints of a Bank Economist Dr. K. C. Chakrabarty, Deputy Governor, RBI, December 30, 2012. Notification by Department of Financial Services, Ministry of Finance, December 20, 2012. Technology Enabled Transformation in the Financial Sector Mr. G. Padmanabhan, Executive Director, Reserve Bank of India, December 17, 2012. Mid-Year Economic Analysis 2012-2013 Department of Economic Affairs, Economic Division, Ministry of Finance, December 17, 2012. Transit Path for Indian Economy: Six Steps for Transforming the Elephant into a Tiger Dr. K. C. Chakrabarty, Deputy Governor, Reserve Bank of India, December 7, 2012. Section II: News and Views Digest – the latest from India and abroad India Government aims at complete financial inclusion Go to any bank to put money in your account Govt mulls financial inclusion through CSCs India has not scored well on financial inclusion of the poor, says RBI Deputy Governor Saral Money a step towards cash transfers, UID & financial inclusion IDBI Bank launches 'Urban Financial Inclusion Programme' at Dhobi Ghat Everyone has right to banking, says FM Banks look to counter cash subsidy rush with ATMs 100% financial inclusion in Pondy? The cost of financial inclusion AP Grameena Vikas Bank's financial inclusion drive Rockstar of financial inclusion: Business Correspondent model of India International Mobile banking to plug gaps in financial inclusion "Momentum behind financial inclusion," says Ehrbeck Section III: Research – surveys and studies on expanding access to financial services A Digital Pathway to Financial Inclusion Daniel Radcliffe and Rodger Voorhies, December 2012, Bill and Melinda Gates Foundation. The Foundations of Financial Inclusion : Understanding Ownership and Use of Formal Accounts Franklin Allen, Asli Demirguc-Kunt, Leora Klapper and Maria Soledad Martinez Peria, Policy Research Working Paper 6290, December 2012, The World Bank. Fraud in Mobile Financial Services Joseck Luminzu Mudiri, November 2012, MicroSave. |
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