Dr. M S Moodithaya in ISME Bangalore on 24th February talked about– The Challenge of Financial Inclusion in India. It was a great exposure for the finance students to understand the real challenges of financial inclusion in India. He talked on the topic “RURAL INDIA IS REAL INDIA”. It is the real side of India and we learn more from it.
He talked about real India. More than 60% population in India is employed by primary sector. Almost 70% of the population is living in 638,365 villages. He explained financial inclusion is that all people, where ever they stay. All people require financial services which are timely, reliable, safe and cost effective. He talked about challenges of financial inclusion and shows the real bank picture in India and how many people have bank accounts. Even issues like Illiteracy, social, and linguistic barriers are making financial inclusion challenging.
He also talked about Government initiative, innovation in financial inclusion and the branchless banking in India. He explained more on Banking sector and what are the problems faced the by rural people as they have no bank accounts. He believed all the people in the world deserve equal access to financial services which are timely, reliable, safe and cost effective.
I personally believed that this lecture was of more help for a finance student. According to my view, the financial inclusion and opportunity in rural India is much more. In rural area people also require financial services. But today, rural people are the target and opportunities for the banking sector. The guest lecture told that “RURAL INDIA IS REAL INDIA” because in rural India, opportunities are more. He also stressed on the delivery of the banking services outside the conventional brick and mortar model.
“Reaching the unreached” was the point he made.
By : Vadodariya Nilesh Rameshbhai
(Student, ISME Bangalore)