The monthly newsletter from the Indicus Centre for Financial Inclusion documents the latest news and views in the financial inclusion space, to provide a knowledge base that will help build understanding around how to accelerate the poor’s access to high-quality financial services.
This month we focus on evolving payment mechanisms that have enabled the transition to cheaper and more efficient transactions; digital payments are a necessary condition for easing access to financial services. Our lead stories include a speech by RBI Executive Director G. Padmanabhan that has raised several issues on the transition from cash to electronic payments and a post by Daniel Radcliffe and Rodger Voorhies on the digital pathway to financial inclusion.
Random Payment System Issues of Systemic Relevance for the New Year
Shri G. Padmanabhan puts down for discussion salient issues in the changing payment systems in India. Many of these issues impact our progress towards universal financial inclusion e.g. changing ingrained consumer behaviour in line with changing technology, managing the role of non-banks in payments, consumer protection in electronic transactions etc.
A Digital Pathway To Financial Inclusion
Daniel Radcliffe and Rodger Voorhies present the four stages through which countries transit as consumers move from cash to an inclusive digital economy. An important insight from their paper is that digital financial inclusion will accelerate only when stakeholders step outside their comfort zones to test new commercial and regulatory models. It is therefore crucial to revisit long-held assumptions in financial regulation, telecommunications, and banking.
Section I: Policy – the latest from India’s policymakers
Financial Inclusion of Urban Poor in India
Dr. K. C. Chakrabarty, Deputy Governor, RBI, January 28, 2013.
Free Translation of Governor's Address at the Outreach Programme in Lalpur Karauta Village in Uttar Pradesh
Dr. Duvvuri Subbarao, Governor, RBI, January 16, 2013.
Section II: News and Views Digest – the latest from India and abroad
MIX releases India Map of Financial Inclusion with support from the Citi Foundation
Rise of the Machines: What the future holds for branch banking in India
Financial inclusion should be the focus of banking reform and guide fresh licence decisions
Financial inclusion: Bogged down by faulty execution
'Innovation will drive financial inclusion'
India Extending Inclusion Through Alternative Customer Identification
Visa claims mobile payment service stifled by telecom operators, refuse to offer USSD access
Wardha gets Skoch award for direct cash transfer project
The next step for Indian banking
Banking Bill: A game-changer for the industry
A Review of Financial Inclusion 2012: Aligning for Real Progress
What Do Practitioners Think Of Impact Research?
Growing Consensus of Financial Inclusion at Davos
‘Financial inclusion’ mooted as UN goal
Section III: Research – surveys and studies on expanding access to financial services
Policy Brief 8: What Will It Take To Deliver ‘Direct Benefits / Cash Transfer’ Programmes Successfully?
Puneet Chopra, MicroSave, January 2013.
Taking the Pulse of Branchless Banking
CGAP, January 2013.
An Overview of the G2P Payments Sector in Pakistan
CGAP, January 2013.
Banking on Change: Breaking the Barriers to Financial Inclusion
Alice Allan, Maude Massu and Christine Svarer, CARE International UK, Barclays and Plan UK, January 2013.