Banks urged to implement financial inclusion strategy
GS3Economy · S&T · Environment · Security· Employment & inclusive growth· Prelims + Mains·
Why in news
DFS Director Manasa Gangotri Kata urged banks in Telangana to prioritize last-mile access and women's financial inclusion under the National Strategy for Financial Inclusion 2025–30.
Background
The National Strategy for Financial Inclusion 2025–30 aims to improve last-mile access and women's financial inclusion. Recommendations include ensuring at least 30% of Bank Correspondents are women and enhancing DBT linkages and PMJDY account usage.
Facts for Prelims
- SchemeNational Strategy for Financial Inclusion 2025–30: A framework to improve last-mile access and women's financial inclusion.
- FactProposed target: At least 30% of Bank Correspondents should be women.
- FactDBT: Direct Benefit Transfer, a mechanism to transfer subsidies directly to beneficiaries' bank accounts.
For Mains
Q. Discuss the role of Bank Correspondents and gender-specific strategies in achieving the objectives of the National Strategy for Financial Inclusion 2025–30.
Dimensions to cover in your answer
- Last-mile connectivity: Bridging the urban-rural divide through decentralized banking agents
- Gender-centric inclusion: Addressing socio-cultural barriers to women's participation in formal credit systems
- MSME credit flow: Addressing liquidity constraints in the MSME sector to drive grassroots economic growth
Keywords: Financial Inclusion · Last-mile access · Direct Benefit Transfer · Priority Sector Lending · Bank Correspondents
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