scholarly journals Postal Bank in Ukraine: The Need and Risks of Creation

2021 ◽  
Vol 6 (521) ◽  
pp. 228-234
Author(s):  
D. M. Hladkykh ◽  
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
The State ◽  
Resource Base ◽  
Banking Services ◽  
Post Offices ◽  
Banking Market ◽  
Target Segment ◽  
Banking Institutions ◽  
Financial Monitoring

The article is aimed at substantiating the feasibility of creating a specialized postal bank in Ukraine, to define the list of related risks and possible directions for their reduction. The following key risks that hinder the establishment of a postal bank in Ukraine are identified: risk of lack of full control over the directions of investment of accumulated deposits of the population on the part of the NBU; liquidity risk; risk of non-compliance by the postal operator with economic standards that are mandatory for banking institutions; risk of capital deficit; risk of inability to support the postal operator with refinancing; risk of mass withdrawal of deposits by customers; risk of insufficient competence of «Ukrposhta» employees to comply with the requirements of financial monitoring; risks associated with the collection of large amounts of cash; risk of further growth of the share of the State-owned institutions in the banking market; risk of shortage of funds to close the agreement on the purchase of «Ukrposhta» by an already operating bank. Possible directions of minimization of these risks are proposed, in particular: implementation of key elements of successful experience in the banking services market of JSPPB «Aval»; defining as the target segment of clients of the new postal bank of the pensioners, who are currently customers of post offices, and as the basis of its resource base – the future pension and current accounts of individuals; use by «Ukrposhta» of the so-called «agency» model of financial services provision; association of «Ukrposhta» and «Oschadbank» into the State-owned Postal Bank; development of a list of key performance indicators for employees and branches of the new postal bank; development of a list of measures directed towards significantly improving the level of qualification of personnel of «Ukrposhta» branches; installation of POS-terminals and payment terminals in all post offices located in rural areas; establishment of individual economic standards for the new postal bank for the period of its full adaptation to activities in the banking market.

scholarly journals FINANCIAL INCLUSION: A PRELUDE TO ECONOMIC STATUS OF VULNERABLE GROUP

2016 ◽  
Vol 4 (12) ◽  
pp. 147-154
Author(s):  
Mukesh Kumar Sharma
Keyword(s):  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Financial Stability ◽  
Financial Inclusion ◽  
Current Status ◽  
Easy Access ◽  
Resource Base ◽  
Banking Services ◽  
The Government

India is a country where a sizeable amount of population lives in rural areas. They are engaged in agriculture and allied activities. Most of the people living in rural areas are poor. They do not have any access to the banks. The awareness and access of the poor to the banking services is important for the alleviation of the poverty. Their access to the banking services will contribute a lot to the growth and development of our country’s economy. Financial inclusion is a great weapon to overcome the financial backwardness as well as the establishment of good governance.It broadens the resource base of the financial system by developing a culture of savings among large segment of rural population, disadvantaged group and plays an essential role in the process of economic development. The Government of India and the Reserve Bank of India (RBI) have been making concentrated efforts periodically to overcome such vicious problems by promoting Financial Inclusion, being one of the important national objectives of the country. Since first phase of nationalization (1969) GoI continuously promoting financial inclusion through self-help groups, no frills account, simplification of KYC, Business correspondents etc., but no palpable effect could be seen in the plight of these financially vulnerable people. To mitigate this long drawn financial sufferings, Prime Minister Narendra Modi announced a new scheme in his Independence Day speech on 15th Aug 2014 called Pradhan Mantri Jan DhanYojana (PMJDY). Mission of PMJDY is to ensure easy access of financial services for the excluded section i.e. weaker section and the low income group. This effort will certainly go a long way in promoting economic growth and reducing poverty, while mitigating systematic risk and maintaining financial stability. This article focuses on the RBI, GoI initiatives, current status and future prospects of financial inclusion in India on the basis of facts and data provided by various secondary sources. It is concluded that financial inclusion shows positive and valuable changes.

scholarly journals INSTITUTIONAL AND FINANCIAL COMPONENTS OF UKRAINE’S EXPORT GROWTH

2018 ◽  
Vol 2018 (8) ◽  
pp. 30-49
Author(s):  
Kateryna ANUFRIIEVA ◽  
Keyword(s):  
Foreign Trade ◽  
Financial Services ◽  
International Market ◽  
The State ◽  
Schematic Model ◽  
External Trade ◽  
Resource Base ◽  
Trade Relations ◽  
The World ◽  
Credit Agency

Today, the state policy on export development is being improved and the export support tools are being implemented at the legislative level. Exporting economic entities form the demand for financial services, which would meet current conditions in the international market, as well as allow for unrestricted settlements with foreign counterparties, available financing of working capital and insurance provision of export operations in order to increase the competitiveness of such entities. The author substantiates importance of the centralized focus of export support efforts, determines the concept of “trade financing and insurance” as a source of resource and institutional support for export operations and highlights the positive aspects and problems arising from financing of export transactions and settlements with counterparties. The state of international cooperation on export issues and trends of the world trade are briefly mentioned. As is known, the Export and Credit agency (ECA), an institution for insurance and export support, has recently been established; however, its place, management, tasks and resource base are still being determined. Therefore, the article proposes a basic schematic model of the activities of this institution. The author emphasizes that increasing the competitiveness of Ukrainian exporters and strengthening their confidence in them in the international market are especially important given the world trend of “de-risking”. De-risking is the limitation of cooperation with certain categories of clients or states (which Ukraine is sometimes included in) to avoid the risk of financing illicit activities, a person under sanctions, terrorism, and the like. The focus of further research the author suggests addressing such issues: (i) interaction of the state and private sectors with support of exports; (ii) determination of the product range of financial institutions servicing the subjects of foreign trade, as well as the ECA; (iii) impact of sanctions and restrictions on Ukraine’s foreign trade relations. Accelerating the development of exports and overcoming obstacles when concluding the external trade agreements and settlements will ultimately help Ukraine to take a niche among the world’s exporters and strengthen its own financial security.

scholarly journals USO DE LOS SERVICIOS FINANCIEROS. ESTUDIO EMPÍRICO EN ESTUDIANTES UNIVERSITARIOS

2017 ◽  
Vol 2 (1) ◽  
pp. 581
Author(s):  
Milka Elena Escalera-Chávez ◽  
Esmeralda Tejada-Peña ◽  
Arturo García-Santillán
Keyword(s):  
Economic Development ◽  
Empirical Study ◽  
Financial Services ◽  
Financial Inclusion ◽  
Public And Private ◽  
Banking Services ◽  
Frequency Of Use ◽  
Banking Institutions ◽  
Upper Level ◽  
Estudiantes Universitarios

Abstract.USE OF FINANCIAL SERVICES EMPIRICAL. STUDY IN UNIVERSITY STUDENTS.The financially included population has access to banking services, hence this insertion favors the economic development of the population, however there are many people who do not use formal financial services, including students. For this reason, the objective of this work was to identify the frequency with which the upper level students of Tuxtepec Oaxaca access the financial services offered by the Banking Institutions. The sample is made up of 800 upper level students who belong to 8 public and private universities in Tuxtepec Oaxaca. The frequency of use of financial services was checked by means of the test. The results show that students use the financial services offered by Banking Institutions. However, it is important to reiterate that some students do not resort to the financial system, this proportion of the population being an area of opportunity for the process of financial inclusion in Mexico.Key Words: Use, Financial Services, University Students.Resumen.La población incluida financieramente accede a los servicios bancarios, de ahí que ésta  inserción favorece el desarrollo económico de la población, sin embargo existen muchas personas que no  utilizan  los servicios financieros formales, incluyendo a los estudiantes. Por este motivo, el objetivo de este trabajo fue identificar la frecuencia con la que los estudiantes de nivel superior de Tuxtepec Oaxaca acceden a los servicios financieros que ofrece las Instituciones Bancarias. La muestra está conformada por 800 alumnos del nivel superior que pertenecen a 8 universidades públicas y privadas de Tuxtepec Oaxaca. Se  comprobó por medio de la prueba t la frecuencia del uso de los servicios financieros. Los resultados muestran que los estudiantes usan los servicios financieros que ofrecen las Instituciones Bancaria. Sin embargo, es importante reiterar que algunos estudiantes no recurren al sistema financiero, siendo esta proporción de la población un área de oportunidad para el proceso de inclusión financiera en México.Palabras Claves: Uso, Servicios Financieros, Estudiantes Universitarios.

Role of regulators in intensifying financial access to the untouched segment of society in developing country

2020 ◽  
Vol 4 (1) ◽  
pp. 8-14 ◽  
Author(s):  
Vinay Kandpal
Keyword(s):  
Low Income ◽  
Rural Areas ◽  
Financial Services ◽  
Banking Services ◽  
Reserve Bank ◽  
Investment Opportunities ◽  
Important Barrier ◽  
Ministry Of Finance ◽  
Ease Of Access

India is a country with diversity noticeable in each division of life as well as financial services. The current study examines the initiatives taken by the Ministry of Finance and Reserve Bank of India (RBI) to intensify the accessibility to investment opportunities in financial instruments for the poor or deprived section of society, the initiatives taken in past, present scenario and to recommend the initiatives for the longer term. Households living in rural areas or having low income usually lack access to banking services or financial services. It is tough for these families to save and to arrange financial resources for the longer term. The ease of access and usage of the financial services and products influences the economic health of the individuals as well as of the state. It has been analyzed that the most important barrier towards accessibility of financial service is the psychological and the profitability of banks. There is a requirement for a robust, dynamic research-based business model with regard to an innovative, digitalized and sound economic system.

scholarly journals SOZECOM: Leveraging the Synergy between the Existing Structure and Opportunities in Digital Finance

2019 ◽  
Author(s):  
Muhammad Lawal Maidoki
Keyword(s):  
Mobile Phones ◽  
Rural Areas ◽  
Financial Services ◽  
Global Economy ◽  
The State ◽  
Collection Management ◽  
Urban Centre ◽  
The People ◽  
Land Mass ◽  
Existing Structure

Sokoto State having a land mass of 25,973 km² and located in Northwestern Nigeria has a population of about 5.7 million people. Over 80% of the people are farmers living predominantly in the rural areas. As a consequence of this they are both financially and digitally excluded from participating in the formal and increasingly digitalized global economy. Sokoto State Zakat and Waqf (Endowment) Commission (SOZECOM) Nigeria aims to drastically reduce the widespread prevalence of poverty in the state. SOZECOM utilizes an extensive network of volunteers covering all the districts in the state. Almost 50% of the rural population own or have access to mobile phones. By using this network and the access to mobile phones, SOZECOM aims to bridge the gap in financial services between the mostly rural areas and the urban centre through the development of a framework involving the use of volunteers as agents. This will greatly assist in the collection, management and distribution of both zakat and waqf funds. This paper presents the activities undertaken, for greater rural financial inclusivity and participation in the digital economy, the opportunity and constraints.

scholarly journals Assessing the Reliability of Ukrainian Banks According to V. Kromonov's Rating Methodology

2021 ◽  
Vol 7 (522) ◽  
pp. 186-194
Author(s):  
Y. M. Dziurakh ◽  
◽  
I. Y. Kulyniak ◽  
Keyword(s):  
Financial Market ◽  
Banking System ◽  
The State ◽  
Private Capital ◽  
Relevant Issue ◽  
Banking Market ◽  
Banking Institutions ◽  
Rating Model ◽  
Reliability Coefficients ◽  
Foreign Banking

Assessment of the reliability of banks and their rating is a relevant issue for all participants of the financial market. Taking into account the fact that a methodology should be based on the availability of information data, clarity and openness of the algorithm, and a limited number of analyzed indicators, the authors, for assessing the reliability of the banking system of Ukraine in separate banking groups, chose the most popular methodology of V. Kromonov. The article contains the results of assessment of V. Kromonov's rating model indicators for the period 01.01.2017–01.06.2021 for the banking system of Ukraine in general, as well as for the group of banks with the State-owned share, banks of foreign banking groups and banks with private capital. It is identified that the level of reliability of the banking system of both Ukraine and banking groups is in poor condition, since the calculated values of integral reliability coefficients do not exceed the value of 30 points, which indicates the presence of significant problems in the functioning of the banking market, imbalance of assets and liabilities, low level of solvency of banks and same for liquidity of assets. A comparative characterization showed that the reliability of Ukrainian banks with the State-owned share is significantly inferior to the reliability of banks of foreign banking groups and banks with private capital. It is determined that the amount of equity of the banking system of Ukraine is not sufficient to repay possible losses in case of non-return or return in an impairment form of a working asset. A computation of liquidity coefficients showed a tendency to reduce the level of coverage of liabilities by liquid assets of banking institutions, to reduce the solvency of the banking system and worsen the ability of banks to fulfill their obligations. Improving their reliability should be one of the primary strategic tasks of all banks.

scholarly journals Credit and Financial and Payment Infrastructure of Volgograd Region: Trends and Prospects of Development

2020 ◽  
pp. 223-233
Author(s):  
Olga Korobeynikova ◽  
Lyudmila Stefanovich ◽  
Tatiana Dugina ◽  
Aleksandr Malofeev
Keyword(s):  
Russian Federation ◽  
Financial Services ◽  
Federal District ◽  
Remote Access ◽  
Banking Services ◽  
Volgograd Region ◽  
Social And Economic Development ◽  
Banking Institutions ◽  
The Russian Federation ◽  
Legal Entities

The aim of the work is to assess the state of the main parameters of credit and financial and payment services of the economy of Volgograd region (institutional provision with banking services, indicators of attraction and investment of funds, retail payment infrastructure) and to establish trends in their dynamics in comparison with the data on Russia and the Southern Federal district. The authors establish that the territorial provision with banking services is characterized by unevenness; the reduction of banking institutions has affected Volgograd region to a greater extent; but the disproportions are partially compensated by the transformation of organizing banking activities, technology and communications according to the digital type. The assessment of indicators of credit and savings services in Volgograd region shows that the greatest credit activity is observed in the sphere of individual lending; loans to legal entities and individual entrepreneurs are declining; deposits, funds in the accounts of legal entities and individuals are growing at a higher rate than in the country as a whole. The assessment of the primary retail infrastructure of the payment market shows that in Volgograd region, in comparison with the Russian Federation, there is an exceeding growth of ATMs and electronic terminals; it is natural to reduce the number of contact imprinters with the simultaneous growth of electronic terminals, which characterizes the strengthening of innovative banking services. Territorial disproportions in the provision of the Russian Federation with credit and financial and payment infrastructure with negative dynamics of Volgograd region are found and that is one of the reasons of lagging of social and economic development of the region. The conditions of credit and financial and payment infrastructure of Volgograd region, the issues concerning mechanisms of leveling the infrastructural availability of financial services in the region due to the diffusion of technological innovations as conductors and channels of remote access to modern financial services can become the directions of further research.

scholarly journals Cyclical Fluctuations in the Banking Services Market and the Changes in the Situation of Entities from the Financial Services Sector

2019 ◽  
Vol 5 (52) ◽  
pp. 118-129
Author(s):  
Robert Skikiewicz ◽  
Józef Garczarczyk
Keyword(s):  
Financial Services ◽  
Cross Correlation ◽  
Banking Sector ◽  
Time Range ◽  
Banking Services ◽  
Services Sector ◽  
Financial Services Sector ◽  
Cyclical Fluctuations ◽  
Banking Market ◽  
Cross Correlation Analysis

Abstract Section K of the services sector includes entities conducting financial and insurance activities and, among others, banks. Fluctuations in the whole economy and its individual sectors’ situation are interrelated; hence, one may also expect similarities of cyclical fluctuations in the banking sector and in the entire financial sector. The analyses in the article concern the connections between the cyclical fluctuations on the banking services market and in the entire K section of the services sector, grouping entities conducting financial and insurance activities in Poland. The analyses proved that changes in the economic situation appear earlier in the banking sector than in section K of the services sector. The time range of analyses covered the period from the first quarter of 2003 to the first quarter of 2018. Conclusions on relationships were formulated on the basis of cross-correlation analysis and the analysis of the turning points in the time series of variables describing the cyclical fluctuations in the banking market and in the K section of the services sector.

scholarly journals STATUS OF FINANCIAL INCLUSION IN HILLY RURAL AREAS OF UTTARAKHAND: A COMPARATIVE STUDY OF PAURI, CHAMOLI AND RUDRAPRAYAG DISTRICT

2020 ◽  
Vol 15 (1) ◽  
Author(s):  
Prashant Kandari
Keyword(s):  
Rural Areas ◽  
Financial Services ◽  
Uttar Pradesh ◽  
The State ◽  
Financial Inclusion ◽  
Primary Data ◽  
Area Deprivation ◽  
Rural Regions ◽  
Financial Exclusion ◽  
The Status

Hill Rural regions of Uttarakhand are inherent part of the state and were the prominent reason on the basis of which Uttarakhand state was carved out of Uttar Pradesh. Unfortunately the underdevelopment of these regions due to the aspect of ‘Area Deprivation’ associated with them has led to emergence of prominent problems like unemployment, lack of income generating opportunities and poverty leading further to a major problem of rural outmigration from them. To raise the economic condition of households of these regions it is important to enhance the income generating opportunities and to provide financial services which could cover up the majority of population with the social security net. The major way out to achieve them is through increase in financial inclusion. The present study through help of primary data examines the level of financial inclusion in the hill rural regions of Uttarakhand for which FII is computed on the basis of 4 dimensions of financial inclusion. The FII of the rural regions of development blocks of hill districts is compared with the FII of the all Indian rural households to examine the status of financial exclusion in hill rural regions of the state.

1. Origins and function of banking

2016 ◽  
pp. 1-25
Author(s):  
John Goddard ◽  
John O. S. Wilson
Keyword(s):  
Hedge Funds ◽  
Financial Services ◽  
Balance Sheet ◽  
Investment Banks ◽  
Shadow Banking ◽  
Banking Services ◽  
Income Statement ◽  
Banking Institutions ◽  
History Of ◽  
And Function

A bank is an institution that accepts deposits from savers, extends loans to borrowers, and provides a range of other financial services to its customers. Banks are a central part of the modern financial system. ‘Origins and function of banking’ begins with a short history of banking before outlining the structure of a bank’s balance sheet and income statement. It goes on to describe the different types of bank and banking services provided by retail, corporate, and investment banks. It also explains the shadow banking institutions—such as hedge funds—which are not subject to the same supervisory and regulatory arrangements, and the payments system that has been transformed by the growth of computing technology.

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