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Towards Financial Inclusion in India
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Towards Financial Inclusion in India

First Edition
  • K. G. Karmakar - Managing Director, National Bank for Agriculture and Rural Development (NABARD).
  • G. D. Banerjee - formerly at National Bank for Agriculture and Rural Development, Mumbai
  • N. P. Mohapatra - National bank for Agriculture and Rural Development, Mumbai


September 2011 | 596 pages | SAGE Publications Pvt. Ltd
Towards Financial Inclusion in India is a treatise on ‘inclusion of the Last, the Lost and the Least’. It provides an in-depth analysis of the various pillars of financial inclusion such as micro-remittance, micro-savings, micro-credit and micro-insurance.

The book stresses on financial literacy and counselling, which are core to the achievement of financial inclusion. The authors dwell upon the difficulties faced by vulnerable groups like women, tribals, weavers and rural populace while trying to access financial services. The book also analyzes inclusion measures like ICT interventions, post office model and payment mechanisms.

Striking a balance between pragmatic policy-making and a genuine social security mechanism, the book emphasises that financial services should be cost-effective and easily affordable to the vast majority of disadvantaged and low-income groups.

The roadmap for financial inclusion drawn by the authors, if adopted, will go a long way in addressing the needs and demands of last-mile clients, especially the vulnerable groups.
 
I: FINANCIAL INCLUSION ANALYSED
Financial Inclusion Defined

 
The Long March since 1793

 
Resource-poor Regions and Financial Inclusion

 
Women Empowerment and Sustainable Livelihoods

 
Strategy to extend Financial Services to Vulnerable Groups

 
Financial Inclusion - Index for Rural India

 
Institutional Changes Required for Financial Inclusion

 
 
II: MAPPING DEMAND SIDE REQUIREMENTS
Role of Savings

 
Micro-insurance Innovations

 
Safe Remittances for the Poor

 
Understanding Rural Debt

 
Emerging Trends in Microfinance

 
Financial Inclusion in Tribal Areas

 
Inclusion Techniques for Farmers

 
Technology Options and Inclusion

 
 
III: SUPPLY SIDE INNOVATIONS
Reducing Transaction Costs for Banks and Their Clients

 
Business Correspondent and Business Facilitator Outreach Model for Banks

 
The Post Office model

 
Financial Literacy and Counselling

 
Micro Pension: A Safety Net for Rural India

 
Joint Liability Groups for Farmers

 
Rural Infrastructure: The Missing Link

 
Joint Liability Groups for Handloom Weavers

 
 
IV: CHALLENGES FOR THE FUTURE
Inclusive Growth through Rural Employment

 
The Micro-enterprises Model

 
Unique Identification Number and Financial Inclusion

 
Social Audit Systems: A Need

 
Best Practices in Financial Inclusion and Case Studies

 
Initiatives for Financial Inclusion: The Road Map

 
 
Foreword K C Chakrabarty
 
Glossary
 
Index

The book under review has the merit of being authored by persons who, by virtue of holding senior positions in NABARD — an institution that played a crucial role in expanding and deepening financial inclusion — have had the advantage of closely observing and even participating in the process, and gaining access to the findings of field surveys and the official data based on them. It not only presents in detail the role played by the main actors but also draws upon the experiences of other countries in this regard. The book is highly informative and should serve as a useful guide to what has been happening and, more importantly, what needs to be done.

The Hindu

The book is interesting…It has numerous examples in each and every idea, thanks to Nabard’s rich and vast experiences in this field. Also, rather than being recommendatory, it is filled with real examples for the reader to identify with…. the book is written in more of a regulator’s officialese with a lot of points and subpoints — much like a detailed textbook. It is, hence, a good compendium of everything on the subject… a wholesome treatise.

Businessworld

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ISBN: 9788132105848
£47.99