Financial Inclusion - News And Views - May 2017


Last month, the RBI released a Discussion Paper on Wholesale & Long-Term Finance Banks. Yet, even as innovative banking models are being discussed, regulation is slow to adapt to the changing landscape. For instance, the Internal Working Group on Rationalisation of Branch Authorisation Policy submitted its report last October, but decisions are pending on crucial recommendations i.e. moving away from the emphasis on brick-and-mortar branches, expanding the definition of a banking outlet and redefining an unbanked rural area. Meanwhile Small Finance Banks report finding it difficult to fulfil the mandate of setting up 25% of their branches in unbanked rural areas in the first year. See Small finance banks seek relaxed norms to meet financial inclusion goals.

Regulators have to learn to be nimbler, and the RBI has to prepare itself to meet evolving technology. So far, apart from issuing a warning to the public regarding risks of virtual currency, there has been no word from the RBI on the possibility of regulating cryptocurrencies in the future. The Watal Committee on Digital Payments had recommended evaluating the possibility of RBI issued digital currency and testing a proof of concept. The time has come for more open discussion to gear India up to emerging opportunities. Read Casey Hynes on How Cryptocurrencies & Blockchain Could Solve Asia's Financial Inclusion Issue.

All eyes are on Wednesday 10th May when the Supreme Court’s judgement on the constitutional validiity of Section 139AA of the Income Tax Act is due – while the government’s decision to link Aadhaar to the PAN has been passed by Parliament, petitioners have contested this raising issues of privacy and data sharing. What the Supreme Court says may have implications restricting the current spate of authorities and private parties using Aadhaar. See Govt’s stand on Aadhaar for PAN could ‘dilute civil liberties’: Supreme Court told.

A Bank Should Be Something One Can “Bank” Upon: Dr. Viral V Acharya, Deputy Governor, RBI, 28 April 2017


Pradhan Mantri Jan - Dhan Yojana
ATM Progress for the quarter ending December, 2016
Position of Bank Mitra Infrastructure
Monthly Report sent to PMO for the month of March, 2017 on DBT
• MGNREGS:Grievance Redressal Rules formation concerning 10 States
Financial Literacy Week



India Stack: Major Potential, but Mind the Risks
Digital India: P2P lending can play a pivotal role in financial inclusion
Business correspondents, bank network vital for financial inclusion
Cash-Mukt Bharat Still Faces Several Challenges
How to transform India from cash to cash-less: Paradigm shift in thought process required
India Post Payment Bank to open 650 branches this year
Aditya Birla Idea Payments Bank to open first branch by first half of 2017
Making payments pay
Aircel may approach RBI for Payments Bank licence
Airtel Payments Bank gets 1000 villages to go digital
Paytm to pump in Rs 10000 crore into banking, financial services
Janalakshmi Financial Services gets final nod for SFB
NPCI CEO A.P. Hota says number of digital transactions declining



From OTC to Mobile Accounts: Easypaisa’s Journey
Designing User-Friendly USSD Interface for Digital Financial Services
Do Financial Service Providers Really Understand Savings Group Members?
Digital Credit’s Evolving Landscape: 3 Things You Need to Know
Making Markets Work for the Poor — Science, Art or Speculation?
Decoding QR Codes: Are they useful for merchant payments in emerging markets?
Should Other Countries Build Their Own India Stack?
Bangladesh recognised for financial inclusion
6 challenges to financial inclusion in South Africa

Aadhaar: Inclusive by Design – A Look at India’s National Identity Programme and its Role in the JAM Trinity,GSMA, 27 March 2017
Global Mobile Money Dataset, GSMA, 26 April 2017
Digitizing Value Chain Finance for Smallholder Farmers, Max Mattern and Rossana M. Ramírez, CGAP, 20 April 2017
Mystery Shopping for Digital Financial Services,Michelle Kaffenberger and Danielle Sobol, CGAP, 19 April 2017
The Business Case for Customer Centricity,Lisa Stahl, Barbara Magnoni and Gerhard Coetzee, CGAP, 18 April 2017
Digital Rails, Olga Morawczynski et al, CGAP, 18 April 2017
Fraud in Mobile Financial Services, Mercy Buku and Rafe Mazer, 17 April 2017


Monitoring the Progress of Financial Inclusion in India - Policy Brief March,2017
Solving the USSD imbroglio - Policy Brief November,2016
India's financial inclusion update The Indicus Centre for Financial Inclusion was launched in 2011 to distil and disseminate information on accelerating the poor’s access to high-quality financial services. ©Indicus Centre for Financial Inclusion. All rights reserved. 4thMay 2017

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