"93. Financial inclusion is the process of ensuring access to timely and adequate credit
and financial services by vulnerable groups at an affordable cost. The Committee on
Financial Inclusion has given an interim report. While we await the final report,
Government has decided to implement, immediately, two recommendations.
The first is
to establish a Financial Inclusion Fund with NABARD for meeting the cost of
developmental and promotional interventions. The second is to establish a Financial
Inclusion Technology Fund to meet the costs of technology adoption. Each fund will
have an overall corpus of Rs.500 crore, with initial funding to be contributed by the
Central Government, RBI and NABARD." |