Financial Inclusion, Inclusive Growth and the Poor

2014 ◽  
Vol 1 (1) ◽  
Author(s):  
Ms. Rinku Minocha
Keyword(s):  
Financial Inclusion ◽  
Inclusive Growth ◽  
The Poor

 

scholarly journals FINANCIAL INCLUSION AND AGRICULTURAL DEVELOPMENT IN INDIA

2018 ◽  
Vol 6 (9) ◽  
pp. 421-433
Author(s):  
Semanti Choudhury
Keyword(s):  
Rural Economy ◽  
Agricultural Development ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Social Sector ◽  
The Poor ◽  
The Many ◽  
Economic Transaction ◽  
Made In

In most parts of the world, especially in the developing nations, the poor face challenges that impair their conditions and limit their opportunities. In order for growth to be inclusive, it should benefit all sectors of the economy while reducing the disadvantages faced by the poor and the underprivileged, as well as ensuring equitable opportunities for all economic participants. In the context of a developing country like India where a major portion of the population is dependent on agriculture for their livelihood, agricultural development forms an important part of any growth measure. One of the many alternative strategies for attaining inclusive growth is through developing an inclusive financial system. Financial inclusion is instrumental to facilitate economic transaction, manage day-to-day resources, protect against vulnerability, improve quality of life, make productivity-enhancing investments and leverage assets. However, in the Indian agricultural scenario, financial inclusion is faced by various impediments. This paper analyses the significance of financial inclusion and social sector expenditure in the rural economy in promoting agricultural development and inclusive growth in India, and infers with the help of a proposition made in a constructed general equilibrium model. It also offers certain policy prescriptions in this domain.

scholarly journals FINANCIAL INCLUSION AND INCLUSIVE GROWTH: A CROSS-PROVINCE ANALYSIS IN INDONESIA

2016 ◽  
Vol 18 (3) ◽  
pp. 281-306 ◽  
Author(s):  
I Made Sanjaya ◽  
Nursechafia Nursechafia
Keyword(s):  
Financial Services ◽  
Financial Sector ◽  
Financial Inclusion ◽  
The Other ◽  
Average Level ◽  
Inclusive Growth ◽  
Positive Correlation ◽  
The Poor ◽  
Other Hand ◽  
Equity Index

This paper computes and analyzes the degree of financial inclusion and the inclusive growth in Indonesia. Using provincial data, we calculate the Index of Financial Inclusion (IFI) based on the accessibility, the availability, and the usage of the financial services. On the other hand, the Index of Inclusive Growth (IIG) is developed through the method of social opportunity function by increasing the average level and equity index of opportunities. The result shows that the financial inclusion in Indonesia is largely determined by the accessibility, while the availability and the usage play only small portion. This leads to a conclusion that the group of the poor is limited on using the financial services. Furthermore, we use social opportunity function to measure the inclusive growth, and find a positive correlation with the financial inclusion. These findings call the attention from regulators to push the financial sector to extend their services further beyond their existing market target

scholarly journals Micro Insurance as a Dimension for Financial Inclusion in India through Jansuraksha Scheme: An Empirical Analysis of Statistical Evidence

2016 ◽  
Vol 2 (12) ◽  
Author(s):  
Rajitha Ramachanran ◽  
Dr. Ps Anuradha
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Financial Inclusion ◽  
Inclusive Growth ◽  
Allocation Of Resources ◽  
Poor Growth ◽  
The Poor ◽  
Poor Households ◽  
Micro Insurance ◽  
The Government

Christ University, India Abstract: - Inclusive growth entails comprehensive growth, shared growth, and pro-poor growth. It lessens the fast growth rate of poverty in a country and upsurges the participation of people into the development of the country. Inclusive growth infers an impartial allocation of resources with benefits incurred to every section of the society. But the allocation of resources must be focused on the intended short and long term benefits of the society. Micro insurance is considered as an important instrunment for inclusive growth. With the outset of the Pradhan Mantri Jan Dhan yojana when the government launced the insurance and pension schemes it was considered as a success for the upliftment of the poor and infusing insurance into the lives of the poor. A key aspect of the interest in micro-insurance is to explore ways of significantly increasing the number of poor households belonging to various communities that have access to insurance while enhancing the benefits. This paper is a study to understand how the Pradhan Mantri Suraksha Bima Yojana and Pradhan Mantri Jeevan Jyothi Bima yojana is considered as a success for the upliftment of the poor. It analyses how the progress of both these schemes in terms of the growth and progress has increased the inclusiveness of financial services like micro insurance has increased the outreach of these schemes. It is a statistical analysis of the secondary data on the gross enrollment and how it shows that micro insurance still be considered as a important dimension of financial inclusion.

Fintech For The Poor: Do Technological Failures Deter Financial Inclusion ?

2021 ◽  
Author(s):  
Padmanabhan Balasubramanian ◽  
S V Ravi Chandra ◽  
Aditya Murlidharan ◽  
Prasanna L. Tantri
Keyword(s):  
Financial Inclusion ◽  
The Poor

Stakeholders and opportunities of debt settlement as a values-based banking activity in Hungary

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Zsuzsanna Győri ◽  
Borbála Benedek
Keyword(s):  
Research Question ◽  
Good Practice ◽  
Banking System ◽  
Financial Inclusion ◽  
Stressful Situation ◽  
Content Type ◽  
Main Research ◽  
The Poor ◽  
Lessons Learnt

Purpose The purpose of this paper is to discuss the stakeholders of debt settlement programmes in general and some lessons learnt from the most significant debt settlement programmes of recent years in Hungary. The study also presents a planned debt settlement programme in Hungary. The paper explores and details behaviours and motivations of different stakeholders in debt settlement in general and also with reference to a specific case study. As for its main research question, the paper seeks to identify the preconditions of a successful debt settlement programme with specially emphasis on the poor. Design/methodology/approach Data from semi-structured in-depth expert interviews, documents and former research papers were collected for identifying previous Hungarian debt settlement programmes and potential lessons learnt. After a general discussion, based on primary and secondary sources, a case study is presented to obtain a more comprehensive understanding of opportunities and challenges of debt settlement. Findings Six preconditions of successful debt settlement targeting the poor are identified. In the case study, the existence and relevance of these preconditions are tested: the main finding is that they all are important for solving the situations, so a partial solution is not sufficient. In the scope of the case study, more precisely within the planned innovative banking solution, the motivations of the bank and the coordinator NGO are identified. On the part of the bank, motivations for solving social problems (both as far as business and moral issues are concerned) are relevant, while – as for the other party – the situation of the debtor is important to understand so that opportunities of cooperation can be identified. In addition, as other stakeholders also influence the potentials of the programme, their cooperative attitude is also needed. Research limitations/implications Limitations consist in generalisation: the study presents some cases from one single country and finally it focuses only on one specific case in one specific social and economic context in Hungary. Having recognized this risk, the author opted for basing research questions on theory, documented the process in detail, and also used triangulation through applying a multiple data collection (interview, content analysis, literature review) method. Practical implications Besides presenting an academic understanding of the phenomena, the goal of the study is to contextualize and interpret the case, to help the realization of currently frozen initiatives and to promote similar future ones. Social implications Indebtedness is a stressful situation affecting families, smaller communities and broader society as well. The planned cooperation of BAGázs and MagNet tries to help people excluded from the banking system. So that a deeper debt trap can be avoided, the goal of this programme is to purchase, partially discharge and reschedule pre-accumulated debts of carefully selected people who have regular income and are willing to undertake bearable repayment. The idea is very innovative with literally no good practice to follow. The research seeks to clarify the pitfalls and opportunities to help the realization of the project and similar future ones. Originality/value A certain form of values-based banking concerns the financial inclusion of the poor, e.g. debt settlement. Nevertheless, over-indebtedness and the settlement of existing debts as well as the relevance of such issues to the financial inclusion are not emphasized enough in the literature or in practice. Besides presenting an academic understanding of the phenomena, the goal of the study is to contextualize and interpret the case, to help the realization of currently frozen initiatives and to promote similar future ones.

scholarly journals Challenges Facing Financial Inclusion Due to the COVID-19 Pandemic

2020 ◽  
Vol 3 (2) ◽  
pp. 50
Author(s):  
Tea Kasradze
Keyword(s):  
Low Income ◽  
Small And Medium Enterprises ◽  
Financial Inclusion ◽  
Financial Resources ◽  
Financial Products ◽  
The Poor ◽  
Wide Range ◽  
Medium Enterprises ◽  
The Impact ◽  
Poor Population

Financial inclusion is often considered as an access to financial resources for the wide public and small and medium-sized businesses, although it is a much broader concept and includes a wide range of access to quality financial products and services, including loans, deposit services, insurance, pensions and payment systems. Mechanisms for protecting the rights of consumers of financial products and services are also considered to be subject to financial inclusion. Financial inclusion acquires great importance during the pandemic and post-pandemic period. The economic crisis caused by the pandemic is particularly painful for low-income vulnerable population. A large part of the poor population who were working informally has lost source of income due to lockdown from the pandemic. Remittances have also been reduced / minimized, as the remitters had also lost jobs and are unable to send money home. Today, when people die from Coronavirus disease, it may be awkward to talk about the financial side of a pandemic, but the financial consequences can be far-reaching if steps are not taken today to ensure access to and inclusion of financial resources. The paper examines the impact of the pandemic on financial inclusion and the responses of the governments and the financial sectors to the challenge of ensuring the financial inclusion of the poor population and small and medium enterprises.

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