Talk:Financial inclusion: Difference between revisions
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I have reverted the latest edits to this article for several reasons, chief among them that they turned the rather concise, descriptive lede of the article into a gigantic, near-impenetrable wall of text. There are also sourcing and verifiability issues; that being said, it looks like there's something of value here. I've placed the removed text in a collapsible box, and I'd like to make it into something workable here on the talkpage. [[User:The Blade of the Northern Lights|The Blade of the Northern Lights]] ([[User talk:The Blade of the Northern Lights|<font face="MS Mincho" color="black">話して下さい</font>]]) 23:18, 15 October 2011 (UTC) |
I have reverted the latest edits to this article for several reasons, chief among them that they turned the rather concise, descriptive lede of the article into a gigantic, near-impenetrable wall of text. There are also sourcing and verifiability issues; that being said, it looks like there's something of value here. I've placed the removed text in a collapsible box, and I'd like to make it into something workable here on the talkpage. [[User:The Blade of the Northern Lights|The Blade of the Northern Lights]] ([[User talk:The Blade of the Northern Lights|<font face="MS Mincho" color="black">話して下さい</font>]]) 23:18, 15 October 2011 (UTC) |
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:I've removed the material Blade is referring too as a possible copyvio; see [[WP:IEP]] for the background to this. All information provided by the students in that program that does not appear to be correctly sourced and rephrased is being removed as the likelihood of copyvio is high. In this case a scan of the website provided did not seem to give quite the same information as the text showed; searching for some key terms such as "oral lessees" found nothing in the source. [[User:Mike Christie|Mike Christie]] ([[User_talk:Mike Christie|talk]] - [[Special:Contributions/Mike_Christie|contribs]] - [[User:Mike Christie/Reference library|library]]) 03:40, 11 November 2011 (UTC) |
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The major reason why Financial Inclusion should be implemented in an economy are that firstly it would help to reduce the high transaction costs of the borrowers,the high transaction costs of the savers, the high transaction costs of the banks, the high risk costs and would help excluding the inappropriate products. The major sections of the people who get excluded here, are the marginal and the landless farmers, the oral lessees, the self employed, the urban slum developers,the migrants, the minorities, the socially excluded groups, the senior citizens, and in some cases women. It's major intention is to propagate an inclusive growth system in the economy, for it to progress. It does not only mean the opening of a short-term bank account in the name of the under-privileged class. Growth would mean nothing if the account was then only used to put in a lump sum amount just as a proof of any amount of loan given, and then later closing the account once the loan is withdrawn or leaving the account dormant, once the loan is repaid or the subsidies get adjusted. Financial inclusion should not only be a one time thing or a seasonal event. For a financial inclusion system to be successfully called one it should be able to provide regular credit access to the under-privileged classes as long as they abide by the terms on which such a relationship is established. If an economy really has to promote growth it should move from just 'opening an account' to the actual access of loans by the under-privileged and to promote the habit of saving amongst them. If this meaning of the word financial inclusion is to be accepted then all the schemes that have been accepted right from the pre-IRDP times to the SGSY today, the SHG Bank Linkage Programme is the only programme that regards the financially excluded people as its regular customers who have an access to loans whenever required, as against the people who only have their one-time benefits from any sort of government schemes. Although NGOs and private banks have made an effort to achieve this goal, but the data to this is yet not fully available and the outreach of these schemes have not been too great too. So, the major measures for the promotion of Financial Inclusion schemes would be the opening of a no-frill account, getting the KYC norms simplified, introduction of the GCC, and an OTS for loans that are overdue by Rs. 25,000 or so and a KCC. Use of intermediaries is also another solution to this problem, like the linkage of the SHGs with the banks, a linkage of the MFIs with the banks, business facilitators and a correspondence model. IT solution for financial inclusion could also be given a thought, along with credit counseling and financial education and the revamping of RRBs and co-operative banks. Usually for the implementation of the Financial Inclusion schemes funds are rarely available, so the various sources which can be used in this case are the micro finance development and equity funds, financial inclusion funds for developmental and promotional interventions and financial inclusion technology funds to meet the cost of technology. Yet there are many challenges that are being faced today for the implementation of such financial inclusive strategies, they are a holistic approach, its viability, scalability, the adoption of technology and the use of intermediate agencies.<ref>http://www.myrada.org/rms/rms46.htm</ref> |
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Revision as of 03:40, 11 November 2011
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I have reverted the latest edits to this article for several reasons, chief among them that they turned the rather concise, descriptive lede of the article into a gigantic, near-impenetrable wall of text. There are also sourcing and verifiability issues; that being said, it looks like there's something of value here. I've placed the removed text in a collapsible box, and I'd like to make it into something workable here on the talkpage. The Blade of the Northern Lights (話して下さい) 23:18, 15 October 2011 (UTC)
- I've removed the material Blade is referring too as a possible copyvio; see WP:IEP for the background to this. All information provided by the students in that program that does not appear to be correctly sourced and rephrased is being removed as the likelihood of copyvio is high. In this case a scan of the website provided did not seem to give quite the same information as the text showed; searching for some key terms such as "oral lessees" found nothing in the source. Mike Christie (talk - contribs - library) 03:40, 11 November 2011 (UTC)