Review of Measures taken by the Government and the
Banking Regulator for Successful Transition to a Financially
Inclusive Economy Cover Image

Review of Measures taken by the Government and the Banking Regulator for Successful Transition to a Financially Inclusive Economy
Review of Measures taken by the Government and the Banking Regulator for Successful Transition to a Financially Inclusive Economy

An Empirical Study of India

Author(s): Reena Agrawal
Subject(s): Economy
Published by: Institut ekonomskih nauka
Keywords: financial inclusion;mobile money;digital financial inclusion;branchless banks;

Summary/Abstract: The current study was done to evaluate the measures used by the Government of India and IndianBanking Regulator ‐Reserve Bank of India to promote financial inclusion in India. The study aimed atreviewing the impact of the initiatives on financial inclusion. The paper also intended to explore theimpact of increasing penetration of mobile phone and internet on financial inclusion. The studyrevealed that government initiatives like Pradhan Mantri Jan Dhan Yojana (PMJDY), Aadhar EnabledPayment Systems (AEPS) and Direct Benefits Transfer; regulatory reforms by Reserve Bank of Indiasuch as Immediate Payment Service (IMPS), Prepaid Payment Instruments, differentiated banks;digital revolution and active participation of private technology companies, are facilitating insuccessful transition into a financially inclusive economy.

  • Issue Year: 52/2019
  • Issue No: 1
  • Page Range: 81-96
  • Page Count: 16
  • Language: English