Financial inclusion Current Affairs, GK & News

Financial Inclusion

Financial inclusion means providing to the large unbanked population of India access to financial products and services like:Bank accounts, immediate credit, savings products, remittance and payment services, insurance, mortgage, entrepreneurial credit, financial advisory services.Steps taken so far for promotion of financial inclusion have been – the cooperative movement, setting up of State Bank of India, ..

RBI introduced Financial Inclusion Index

The Reserve Bank of India introduced the financial inclusion index on August 17, 2021. Key Points The Financial Inclusion Index will be used to capture the extent of financial inclusion in India. This index was part of the announcements made in first bi-monthly monetary policy of April 2021. About Financial Inclusion Index (FI Index) Financial ..

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Basic Savings Account can be opened in Post Offices

The Ministry of Finance recently notified changes in Post Office Savings Account Scheme, 2019. The ministry notified that a beneficiary of Government welfare scheme can open a basic savings bank account with any post office in the country. What are the changes introduced? The accounts can be opened in an India Post Payment Bank or ..

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BRICS Finance Ministers Meet, 2021

India recently hosted the BRICS Finance Ministers Meet. This was the first BRICS meet under the chairmanship of India in 2021. As 2021 BRICS Chair, India aims to focus on strengthening intra-BRICS cooperation based on continuity, consolidation and consensus. Discussions held at the meet The following discussions were held by the leaders during the meet: ..

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Project Kirana launched by Mastercard and USAID

On November 19, 2020, Mastercard and United States Agency for International Development launched “Project Kirana”. The programme will enable women entrepreneurs to grow, launch and thrive. What is the plan? Under Project Kirana, a two-year programme is to be rolled out in selected cities such as Kanpur, Lucknow and Varanasi of Uttar Pradesh. The project ..

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Kris Gopalakrishnan appointed the first Chairperson of Reserve Bank Innovation Hub

On November 17, 2020, Kris Gopalakrishnan, the former co-chairman and co-founder of Infosys was appointed as the first Chairperson of Reserve Bank Innovation Hub. He was appointed by the Reserve Bank of India. The Reserve Bank Innovation Hub aims to promote innovation across financial sector. Reserve Bank Innovation Hub The RBI set up the hub ..

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