Financial Inclusion - News And Views - October 2016


October 2016

India’s Finance Minister, Mr. ArunJaitley, recently reiterated the government’s commitment to more efficient targeting of benefits through its Direct Benefit Transfer (DBT) programme, noting that it would be the “rule in future” (“ Digital Payments: Inclusion, Growth and Opportunities” conference organised by the Better than Cash Alliance and Observer Research Foundation on 1st October). Currently, there are 75 schemes (including DBT-Pahal for LPG) under the DBT programme, with 31.94 crore beneficiaries registered; during the month of August, Rs. 3459.20 crores was disbursed (Monthly Report sent to PMO for the month of August, 2016 on DBT). The government aims to expand DBT to a total of 147 schemes by March 2017.

In a two part policy brief set, “Designing Beneficiary-Centric ‘Direct Benefit Transfer Programmes- Lessons from India’, MicroSave lays out the current DBT environment in India (Part I) and highlights seven steps for operationalising an effective DBT programme (Part II). The note examines the issues to be addressed under each of the steps: Deciding the mode of benefit transfer suitable for the subsidy – cash or kind; Beneficiary identification; Beneficiary enrolment;Delivery channel; Programme communication; Pilot roll out, testing and scale-up; Grievance redressal mechanism. Each step calls for detailed preparatory work, that will work towards ensuring smooth implementation and reducing teething troubles.


Digital Financial Inclusion: Agenda For India
Policy Brief July,2016

Closing the Gender Gap in Financial Inclusion
Policy Brief June,2016

Building the Agent Network for Financial Inclusion
Policy Brief April,2016

In the Media

Why cheap data won't be enough
Mint, 20 September 2016

Time to move beyond the numbers game
Business Standard, 15 September 2016


Connectivity remains a challenge for Digital Financial Inclusion
How digital finance could boost growth in emerging economies: McKinsey Report

Section I: Policy – the latest from India’s policymakers

Setting The Priorities Right
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India, September 28, 2016

Financial Inclusion in India – The Journey so far and the Way Ahead
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India, September 19, 2016

Information Technology & Cyber Risk in Banking Sector – The Emerging Fault lines
Shri S. S. Mundra, Deputy Governor, Reserve Bank of India, September 7, 2016



Pradhan Mantri Jan - DhanYojana  
Trend of Zero Balance Accounts under PMJDY
Position of Overdraft
Position of Bank Mitra Infrastructure


Section II: News and Views Digest – the latest from India and abroad


Digital finance to add $700 billion to India’s GDP, create 21 million jobs by 2025: McKinsey
Financial inclusion: Indian women have something to bank on
Challenges to financial inclusion
ET By Invite: Digital India is banking on post bank
Last mile banking
'Digital finance is $700 billion opportunity for India'
Paytm to use data to power financial inclusion idea factory
Financial inclusion: Biometric banking and the $600 billion opportunity
Almost every household has a bank account: Labour Bureau
1.05 bn Aadhar cards issued, challenge to enrol remaining 20 crore:
RBI official for improving financial literacy
Kotak acquires microfin co
SAARC countries reach out to NPCI for payments switch
New avatar for the old India Post
‘Regulators have done well in ensuring e-transaction safety'
Indian companies eager to join payments bank foray
Paytm banks on Aadhaar for its new payments bank arm
Decoding Unified Payments Interface system: A step towards cutting cash in the economy
Digital Social Payments in India: Can the Challenges Be Overcome?


Delivering on Education for All: The Role of Mobile Money
Those Star-Ratings Do Matter for Financial Inclusion
Headwinds and Tailwinds in Banking Small Businesses
The Role of Financial Services in Reducing Hunger
Better Understanding the Demand for Islamic Microfinance
Pakistan’s Gender Gap in Financial Inclusion
Beyond Credit: Risk Management as a Strategy for Economic Growth
Advancing Financial Inclusion to Improve Access to Education
Protecting Digital Financial Data: What Standard-Setters Can Do
A Tale of Two Markets

Section III: Research – surveys and studies on expanding access to financial services

The monthly newsletter from the Indicus Centre for Financial Inclusion documents the latest news and views in the financial inclusion space. Editor: Sumita Kale can be contacted at 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. The Centre is supported by the Bill & Melinda Gates Foundation.

©Indicus Centre for Financial Inclusion. All rights reserved. 4th October 2016

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