On 24th Feb 2012, there was a guest lecture by Dr. Moodithaya, an ISME Board Member and an accomplished scholar and advisor to the Government of India. He spoke on the topic “Challenges of Financial inclusion in India”.
He started off with the real picture of India i.e. The Rural India and he also explained how the concept of inclusive growth can be achieved through financial inclusion. Financial inclusion means that all people, anywhere in the world, deserve equal access to financial services which are timely, reliable, safe and cost effective.
Further, he pointed out the statistical data on the banking conditions in rural areas and also explained the current situation of the Indian banking sector. In his slides with pictorial representation he showed us the penetration of banking sector in the rural areas, coping with the rules and regulations. He explained the challenges of financial inclusion along with some measures to be taken to overcome the problem. He also gave a brief on what all government is doing in this regard, what plans and policies government have made to help banks reaching out the unreached. He also spoke about the target that the government is eying to achieve by 2015.With tabular presentation he showed the progress of financial inclusion in every part of India and at last he talked about the innovations that are undergoing in financial inclusion in different parts of the world.
Students were greatly helped by the lecture and they finished the session embracing lot of knowledge which is current and relevant.
By: Harshil Himmatramka.