Some glittering examples of financial inclusion models from around the world and our take on whether they will work in India. Read more on Forbes India
YSP Thorat: The Poor Do, Indeed, Save
The bulk of the success in financial inclusion so far has come from extending credit to the poor. It has been traditionally difficult to provide savings and insurance to them. There are different ways to explain this. Read more: Forbes India
C Rangarajan: The Two Pillars of Financial Inclusion
The nationalization of major commercial banks in 1969 was an important landmark in the history of financial inclusion. It was felt that the nationalized banks can make a big push into the rural areas. To some extent, this has happened. But the fact remains that… Read more on Forbes India
4 Ideas to Shape the Future of Finance
The Idea: Rajan outlines a new approach to extend savings and credit services for the financially excluded — “Small Finance Banks”. These banks would be localized in all regards — from hiring staff to decision making to wages — in order to promote flexible, innovative processes. However, they would be linked to large financial institutions in order to benefit from the economies of scale for certain ‘commoditized’ products such as checking accounts. Read more on Forbes India
